Omv Ag · VIE:OMV
Omv — OMV Aktiengesellschaft — Q2 2019 Earnings Presentation
17 slides from Omv's earnings presentation, Jul 31, 2019
Slide 1: OMV Q2/19 Conference Call
OMV Q2/19 Conference Call Rainer Seele Chairman of the Executive Board and CEO July 31, 2019 OMV Aktiengesellschaft
Slide 2: Disclaimer
Disclaimer This report contains forward-looking statements. Forward-looking statements may be identified by the use of terms such as “outlook,” “expect,” “anticipate,” “target,” “estimate,” “goal,” “plan,” “intend,” “may,” “objective,” “will” and similar terms or by their context. These forward-look
Slide 3: Macro environment – Improved oil prices and petrochemical margins offset by weak gas prices and refining margin
Macro environment – Improved oil prices and petrochemical margins offset by weak gas prices and refining margin Oil prices USD/bbl OMV indicator refining margin USD/bbl 80 74 75 6 5.7 69 69 5.2 5.2 63 5 60 68 66 4.0 61 62 60 4 3.2 40 3 Average Brent price 2 20 Average realized crude price 1 0 0 Q2/1
Slide 4: Key messages Q2 2019
Key messages Q2 2019 FINANCIAL STRONG DELIVERING THE PERFORMANCE OPERATIONS STRATEGY Strong earnings of > EUR 1 bn Record quarterly production of Agreed purchase price with (+44% y-o-y) in a challenging 490 kboe/d Gazprom for 24.98% interest in market environment the Achimov 4A/5A Production cost Sh
Slide 5: Clean CCS Operating Result rose substantially, supported by higher realized oil prices
Clean CCS Operating Result rose substantially, supported by higher realized oil prices and a strong operational performance Clean CCS Operating Result Clean CCS Net Income attributable Clean CCS Earnings Per Share EUR mn to stockholders EUR Upstream Corporate & Other, Consolidation EUR mn Downstream
Slide 6: Upstream – Higher sales volumes and realized oil prices, partially offset by weaker gas prices
Upstream – Higher sales volumes and realized oil prices, partially offset by weaker gas prices Q2/19 vs. Q2/18 Clean Operating Result EUR mn Realized oil price increased by 9% Realized gas price decreased by 5% +192 +42% Positive FX impact due to stronger EUR/USD Production of 490 kboe/d (up
Slide 7: Downstream – Solid operational performance and improved earnings
Downstream – Solid operational performance and improved earnings, despite lower refining margin and gas negative effects Clean CCS Operating Result Q2/19 vs. Q2/18 EUR mn Oil +27% +89 Weaker market environment 428 Refining indicator margin at USD 3.2/bbl (-39%) 12 0 Higher ethylene/propylene n
Slide 8: Increase of cash flow from operating activities excluding net working capital effects to EUR 2.2 bn in H1 2019
Increase of cash flow from operating activities excluding net working capital effects to EUR 2.2 bn in H1 2019 Organic cash flow 6m/19 Cash flows 6m/19 vs 6m/18 EUR bn Increase in cash flow from operating activities excl. net working capital effects of EUR 228 mn 2.2 EUR (536) mn net working cap
Slide 9: Healthy balance sheet and strong cash position
Healthy balance sheet and strong cash position Net debt and gearing ratio EUR bn 28% Gearing ratio Cash position 21% 21% EUR bn 1 20% 3.7 14% 13% 4.0 Undrawn revolving Net credit facilities 3.2 3.3 debt 3.0 EUR bn 1 2.0 2.0 3.1 1 As of June 30, 2019 31-Dec-15 31-Dec-16 31-Dec-17 31-Dec-18 31-Mar-19
Slide 10: Updated outlook 2019
Updated outlook 2019 2018 Outlook 2019 Brent oil price (USD/bbl) 71 65 NCG gas price (EUR/MWh) 23 <23 Total hydrocarbon production (kboe/d) 427 < 5001 (previously 500) OMV indicator refining margin (USD/bbl) 5.2 <5.0 Ethylene/propylene net margin (EUR/t) 448 448 (previously <448) Utilization rate re
Slide 11: OMV Aktiengesellschaft
OV OMV OMV Aktiengesellschaft ouv OMV
Slide 12: BACKUP
BACKUP OMV Aktiengesellschaft
Slide 13: Upstream – Higher sales volumes mainly due to additional liftings in Libya
Upstream – Higher sales volumes mainly due to additional liftings in Libya Clean Operating Result Q2/19 vs. Q1/19 EUR mn Realized oil price increased by 10% +257 Realized gas price decreased by 11% 650 Production of 490 kboe/d (+15 kboe/d) 25 Libya (+20 kboe/d) 277 Malaysia (+8 kboe/d) N
Slide 14: Downstream – Significantly higher Downstream Oil results partially offset by seasonally weaker Downstream Gas
Downstream – Significantly higher Downstream Oil results partially offset by seasonally weaker Downstream Gas Clean CCS Operating Result EUR mn Q2/19 vs. Q1/19 +53 Oil 428 0 Weaker market environment 46 Lower refining margin (-21%) Gas 374 12 19 Slightly higher ethylene/propylene net margins (
Slide 15: Operational KPIs
Operational KPIs Hydrocarbon production Refined product sales Retail sales kboe/d mn t mn t 474 490 5.38 1.60 1.63 4.98 4.79 1.45 419 Q2/18 Q1/19 Q2/19 Q2/18 Q1/19 Q2/19 Q2/18 Q1/19 Q2/19 Hydrocarbon sales Refinery utilization rate Natural gas sales mn boe % TWh 44.1 98 96 38.1 35.7 38.4 77 24.8 26.
Slide 16: Strong balance sheet
Strong balance sheet Balance sheet Jun 30, 2019 vs. Mar 31, 2019 EUR bn 38.7 38.5 38.5 38.7 Stockholders’ equity 12.3 12.4 Tangible & 20.6 20.6 intangible assets Non-controlling interests 3.7 3.8 Trade payables 3.6 4.3 Other Bonds and other 6.3 7.0 non-current assets 6.4 interest-bearing debts 6.9 I
Slide 17: Sensitivities of OMV Group in 2019
Sensitivities of OMV Group in 2019 Annual impact 1 Clean CCS Operating Operating cash flow in EUR mn Result Brent oil price (USD +1/bbl) +60 +30 OMV invoiced gas price (EUR +1/MWh) +150 +105 CEGH/NCG gas price 3 (EUR +1/MWh) +50 +25 OMV indicator refining margin (USD +1/bbl) 2 +105 +80 Ethylene/prop
OMV Aktiengesellschaft — Q2 2019 Earnings Presentation on 6ix