Omv Ag · VIE:OMV
Omv — OMV Aktiengesellschaft — Q1 2021 Earnings Presentation
25 slides from Omv's earnings presentation, Apr 29, 2021
Slide 1: OMV Q1 2021 Results Conference Call
OMV Q1 2021 Results Conference Call April 29, 2021 OMV Aktiengesellschaft Rainer Seele Chairman of the Executive Board and CEO The spoken word applies 1/25 | OMV Group
Slide 2: OMV Q1 2021 Results Conference Call, April 29, 2021 2/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 2/25 | OMV Group
Slide 3: Introduction and review of economic environment
OMV Q1 2021 Results Conference Call, April 29, 2021 Ladies and gentlemen, good morning and thank you for joining us. The first quarter of 2021 provided some positive news for our industry, with a materially better quarter-on-quarter macro environment in the Exploration & Production and Chemicals & M
Slide 4: OMV Q1 2021 Results Conference Call, April 29, 2021 4/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 4/25 | OMV Group
Slide 5: Macro environment – improved crude oil and gas prices, record high polyolefin margins
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 3: Macro environment – improved crude oil and gas prices, record high polyolefin margins Oil prices recovered in the first quarter of 2021, reaching 69 Dollars per barrel in March – a similar level last seen in January 2020. At 61 Dollars per
Slide 6: OMV Q1 2021 Results Conference Call, April 29, 2021 6/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 6/25 | OMV Group
Slide 7: Key messages
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 4: Key messages At 870 million Euros, our clean CCS Operating Result was 24 percent above the same quarter of last year and 66 percent higher than in the fourth quarter of 2020. This was mainly attributable to a substantially improved Explora
Slide 8: Page left intentionally blank
OMV Q1 2021 Results Conference Call, April 29, 2021 Page left intentionally blank 8/25 | OMV Group
Slide 9: Recycling and green hydrogen progress
OMV Q1 2021 Results Conference Call, April 29, 2021 It represents a first step towards developing highly demanding applications for various industries, such as automotive and consumer products. We currently run four mechanical recycling plants in Austria and Germany with a capacity of around 100 tho
Slide 10: OMV Q1 2021 Results Conference Call, April 29, 2021 10/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 10/25 | OMV Group
Slide 11: Clean CCS Operating Result
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 5: Clean CCS Operating Result – higher realized oil prices, record high polyolefin margins, and full consolidation of Borealis Let’s now turn to our financial performance in the first quarter of 2021. Our clean CCS Operating Result increased
Slide 12: OMV Q1 2021 Results Conference Call, April 29, 2021 12/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 12/25 | OMV Group
Slide 13: Exploration & Production – higher realized oil prices and sales volumes
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 6: Exploration & Production – higher realized oil prices and sales volumes Let me now discuss the performance of our business segments, which we are reporting for the first time under the new structure. The Clean Operating Result of Explorati
Slide 14: OMV Q1 2021 Results Conference Call, April 29, 2021 14/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 14/25 | OMV Group
Slide 15: Refining & Marketing – weaker market environment and lower sales volumes
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 7: Refining & Marketing – weaker market environment and significantly lower sales volumes due to persistent Covid-19 effects The clean CCS Operating Result in Refining & Marketing decreased significantly year-on- year to 108 million Euros, dr
Slide 16: OMV Q1 2021 Results Conference Call, April 29, 2021 16/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 xx 16/25 | OMV Group
Slide 17: Chemicals & Materials – record high polyolefin margins, stronger sales
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 8: Chemicals & Materials – record high polyolefin margins, stronger sales, and full consolidation of Borealis The clean Operating Result of Chemicals & Materials more than tripled to 442 million Euros year-on-year. This sharp increase is attr
Slide 18: OMV Q1 2021 Results Conference Call, April 29, 2021 18/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 18/25 | OMV Group
Slide 19: Cash flow from operating activities excluding net working capital effects
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 9: Cash flow from operating activities excluding net working capital effects more than doubled to EUR 1.7 bn in Q1/21 Turning to cash flow, our operating cash flow ─ excluding net working capital effects ─ more than doubled to 1.7 billion Eur
Slide 20: OMV Q1 2021 Results Conference Call, April 29, 2021 20/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 20/25 | OMV Group
Slide 21: Deleveraging well on track
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 10: Deleveraging well on track Net debt excluding leases decreased by 261 million Euros to 7.9 billion Euros. Consequently, our gearing ratio excluding leases – defined as net debt excluding leases to equity – decreased by 4 percentage points
Slide 22: OMV Q1 2021 Results Conference Call, April 29, 2021 22/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 22/25 | OMV Group
Slide 23: Update on the EUR 2 bn divestment program
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 11: Update on the EUR 2 bn divestment program Let me now give you an update on our divestment program. We are well on track and are confident that we will deliver the envisaged 2 billion Euros by end of this year. We have signed agreements so
Slide 24: OMV Q1 2021 Results Conference Call, April 29, 2021 24/25 | OMV Group
OMV Q1 2021 Results Conference Call, April 29, 2021 24/25 | OMV Group
Slide 25: Updated outlook 2021
OMV Q1 2021 Results Conference Call, April 29, 2021 Slide 12: Updated outlook 2021 Let me conclude with an update of our outlook for this year. Based on the developments we have seen so far, we have updated our oil price assumption for 2021 and now expect an average Brent price in the low sixties. W
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