Slide 1: Q4 2024 Results Conference Call
Q4 2024 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO October 29, 2024
Slide 2: Disclaimer
Disclaimer © 2025 OMV Aktiengesellschaft, all rights reserved, no reproduction without our explicit consent. This presentation contains forward-looking statements. Forward-looking statements may be identified by the use of terms such as “outlook”, “believe”, “expect”, “anticipate”, “intend”, “plan”,
Slide 3: Overview Q4
Overview Q4 Operational performance Clean CCS Clean CCS EPS Cash flow from Q4 2024 vs. Q4 2023 Operating Result EUR operating activities EUR mn EUR mn Polyolefin sales volumes incl. JVs 1,432 5 -4% 1,375 2.03 -17% -6% 1,421 +16% 81 112 1.70 368 1,051 1,092 1,030 Fuel sales volumes –4% 135 204 1.06 1
Slide 4: Key messages FY 2024
Key messages FY 2024 • Polyolefin sales volumes incl. JVs +10% vs. 2023 • Stable fuel sales volumes Operations • Oil and gas production volumes –7% to 340 kboe/d • Termination of natural gas supply contract with Gazprom Export • Clean CCS Operating Result of EUR 5.1 bn (–15%), with a significant inc
Slide 5: Delivering the Strategy 2030 – Major milestones in 2024
Delivering the Strategy 2030 – Major milestones in 2024 Chemicals Fuels & Feedstock Energy • Ramp-up of the 3G Borstar® • FID for 250 kt p.a. HVO/SAF and • Divested Malaysia E&P Bay 3 plant in the US green hydrogen plant in Romania • Gas discovery in the Norwegian Sea • Mechanically completed the •
Slide 6: Chemicals – substantially increased earnings driven by improved margins and higher sales volumes
Chemicals – substantially increased earnings driven by improved margins and higher sales volumes Clean Operating Result EUR mn • Market environment +76 − Slightly lower olefin indicator margins (ethylene –3%, 81 propylene –2%) − Higher polyolefin indicator margins (PE +41%, PP +24%) 20 • Operational
Slide 7: Specialty products – growing base in our earnings, resilient over the cycle
Specialty products – growing base in our earnings, resilient over the cycle Realized polyolefin sales margin of Borealis excl. JVs EUR • Specialty products are supplied to various industries such Europe PE/PP average indicator margin, EUR/t Energy, Mobility, Health Care and Consumer Products Standar
Slide 8: F&F – significantly lower refining margins, reduced Marketing contribution and ADNOC Refining result
F&F – significantly lower refining margins, reduced Marketing contribution and ADNOC Refining result Clean CCS Operating Result EUR mn –256 • Lower refining indicator margin by USD 4/bbl due to 368 lower gasoline cracks and middle distillate cracks • Slightly higher utilization rate Europe (90%) 109
Slide 9: Energy – earnings increase mainly due to a significantly better Gas Marketing & Power result
Energy – earnings increase mainly due to a significantly better Gas Marketing & Power result Clean Operating Result EUR mn • Market environment • Lower realized crude oil price (–13%), higher realized natural gas +200 price (+14%) 1,241 169 Gas • Oil and gas production of 337 kboe/d (–27 kboe/d) 1,0
Slide 10: Group-wide efficiency measures of EUR 180 mn delivered in 2024
Group-wide efficiency measures of EUR 180 mn delivered in 2024 Impact on cash flow from operating activities1 EUR bn ≥0.5 Main initiatives in 2024 ~30% Chemicals • Maintenance efficiency • Reservoir and infrastructure ~20% F&F improvements • Net working capital 0.18 optimization ~50% Energy • Reduct
Slide 11: Strong cash flow from operations of EUR 5.5 bn
Strong cash flow from operations of EUR 5.5 bn 2024 vs. 2023 EUR bn • Significant increase in cash flow from operating activities excluding net working capital effects to EUR 5.3 bn 5.7 − Dividends received from Borouge entities of EUR 436 mn (FY 2023: 5.5 FY 2023 FY 2024 EUR 455 mn) and ADNOC Refin
Slide 12: Maintaining a low leverage ratio and high cash position
Maintaining a low leverage ratio and high cash position EUR bn, % End of Dec. 2024 9.3 OMV cash position EUR 6.2 bn 6.0 32% Net debt in EUR bn Leverage ratio End of Dec. 2024 21% 3.3 3.4 3.2 OMV undrawn committed 2.2 2.1 credit facilities 12% 12% 12% 8% 8% 4% 1.2 EUR 4.2 bn 2020 2021 2022 2023 Q1 20
Slide 13: Attractive shareholder distributions through growing regular dividend plus an additional variable dividend
Attractive shareholder distributions through growing regular dividend plus an additional variable dividend 5.05 5.05 4.75 12.7% 1 2.25 2.10 1.70 Additional variable Attractive dividend2 dividend yield 20-30% 1.85 2.30 + of CFFO3 1.50 1.75 1.75 Progressive if the leverage ratio is 3.05 1.00 1.20 2.30
Slide 14: Disciplined organic investments
Disciplined organic investments Organic CAPEX EUR bn Main organic projects • Chemicals 3.7 3.7 3.7 3.6 • Construction of PDH 2 in Kallo, Belgium • Plastic waste sorting plant in Germany together with Interzero 1.2 1.0 0.9 1.4 • Specialty polyolefins and compounding capacity increase 0.8 0.7 • F&F 1.
Slide 15: Outlook 2025
Outlook 2025 2023 2024 FY 2025 Brent oil price (USD/bbl) 83 81 ~75 THE (Trading Hub Europe) gas price (EUR/MWh) 41 35 40–45 OMV average realized gas price (EUR/MWh) 29 25 ~35 MARKET Ethylene indicator margin Europe (EUR/t) 507 505 ~520 Propylene indicator margin Europe (EUR/t) 389 384 ~385 Polyethyl
Slide 16: Appendix
OMV GROUP Appendix 16
Slide 17: Macro environment
Macro environment Oil prices Gas prices USD/bbl EUR/MWh Q4 2024 vs. Q4 2023 Average Brent price Average realized crude price Trading Hub Europe (THE) Realized gas price 41 44 28 31 35 Brent oil –11% 31 84 83 85 27 25 80 22 23 75 82 79 81 78 72 THE gas price +7% Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q4/23 Q1
Slide 18: Chemicals – lower contribution mainly driven by market environment and seasonally higher costs
Chemicals – lower contribution mainly driven by market environment and seasonally higher costs Clean Operating Result EUR mn –54 • Market environment 135 − Lower olefin indicator margins (ethylene –2%, propylene –6%) 20 17 − Slightly lower polyolefin indicator margins (PE –1%, PP –1%) 36 • Operation
Slide 19: F&F – earnings impacted by significantly lower Marketing contribution seasonally driven
F&F – earnings impacted by significantly lower Marketing contribution seasonally driven Clean CCS Operating Result EUR mn –93 • Slightly higher refining indicator margin by USD 0.9/bbl 204 28 • Higher refinery utilization rate Europe by 5 pp • Significantly lower retail performance due to seasonally
Slide 20: Energy – stronger contribution driven by higher sales in Libya and stronger Gas Marketing & Power
Energy – stronger contribution driven by higher sales in Libya and stronger Gas Marketing & Power Clean Operating Result EUR mn • Lower realized crude oil price (–8%), higher realized gas price +539 (+23%) 1,241 • Oil and gas production of 337 kboe/d (+5 kboe/d) 205 Gas − Libya (+15 kboe/d) 268 Mark
Slide 21: Strong balance sheet
Strong balance sheet Balance sheet Dec. 31, 2024, vs. Sep. 30, 2024 EUR bn 48.2 48.8 48.8 48.2 • Equity-accounted investments: significantly impacted by strengthening of USD Stockholders’ equity Tangible & and hybrid capital 17.9 17.0 • Decrease in assets and liabilities held for sale 22.2 22.4 inta
Slide 22: Sensitivities of OMV Group results in 2025
Sensitivities of OMV Group results in 2025 Annual impact excl. hedging Clean CCS Operating EUR mn Operating Result cash flow Brent oil price (USD +1/bbl) +50 +35 Realized gas price (EUR +1/MWh) +45 +30 OMV refining indicator margin Europe (USD +1/bbl) +110 +100 Ethylene indicator margin Europe (EUR
Slide 23: OMV GROUP
OMV GROUP