Omv Ag · VIE:OMV
Omv — OMV Aktiengesellschaft — Q1 2024 Earnings Presentation
26 slides from Omv's earnings presentation, Apr 30, 2024
Slide 1: OMV Q1 2024 Results Conference Call
OMV Q1 2024 Results Conference Call April 30, 2024 OMV Aktiengesellschaft Alfred Stern Chairman of the Executive Board and CEO The spoken word applies 1/26 | OMV Group
Slide 2: OMV Q1 2024 Results Conference Call, April 30, 2024 2/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 2/26 | OMV Group
Slide 3: Macro environment – Stable oil prices, lower gas prices, healthy refining margins
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 3: Macro environment – Stable oil prices, lower gas prices, healthy refining margins, and higher polyolefin indicator margins Ladies and gentlemen, good morning and thank you for joining us. Our business continued to perform well in the first
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OMV Q1 2024 Results Conference Call, April 30, 2024 Page left intentionally blank 4/26 | OMV Group
Slide 5: Polyolefin indicator margins rose compared to the previous quarter
OMV Q1 2024 Results Conference Call, April 30, 2024 Polyolefin indicator margins rose compared to the previous quarter, supported by concerns about the security of supply. Reduced imports into Europe from Asia and the Middle East due to the Red Sea bottleneck and into North America following outages
Slide 6: OMV Q1 2024 Results Conference Call, April 30, 2024 6/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 6/26 | OMV Group
Slide 7: Key messages
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 4: Key messages At around 1.5 billion euros, the clean CCS Operating Result improved by around 4 percent compared with the previous quarter but was below the exceptional level of the prior-year quarter. Our cash flow from operating activities
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OMV Q1 2024 Results Conference Call, April 30, 2024 Page left intentionally blank 8/26 | OMV Group
Slide 9: OMV Petrom green hydrogen financing and retail site acquisitions
OMV Q1 2024 Results Conference Call, April 30, 2024 OMV Petrom signed financing contracts with the Romanian Ministry of Energy for the construction of two production facilities for green hydrogen. Total investment will be approximately 140 million euros with a funding of up to 50 million euros. The
Slide 10: OMV Q1 2024 Results Conference Call, April 30, 2024 10/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 10/26 | OMV Group
Slide 11: Slightly higher profitability vs. Q4/23, but a decrease versus extraordinary prior-year quarter
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 5: Slightly higher profitability vs. Q4/23, but a decrease versus extraordinary prior-year quarter Let’s turn now to the financial performance in the first quarter of 2024. Our clean CCS Operating Result was slightly higher than the previous
Slide 12: OMV Q1 2024 Results Conference Call, April 30, 2024 12/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 12/26 | OMV Group
Slide 13: Chemicals & Materials – Earnings increased due to positive inventory effects
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 6: Chemicals & Materials – Earnings increased due to positive inventory effects and better result of JVs, partially offset by weaker olefin margins Let me now come to the performance of our business segments. Compared to the first quarter of
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OMV Q1 2024 Results Conference Call, April 30, 2024 Page left intentionally blank 14/26 | OMV Group
Slide 15: Polyolefin business performance and JV contribution
OMV Q1 2024 Results Conference Call, April 30, 2024 The polyolefin business performance declined slightly, impacted by a less favorable product mix and higher fixed cost due to inflation, partially offset by positive inventory valuation effects. The polyolefin sales volumes increased slightly compar
Slide 16: OMV Q1 2024 Results Conference Call, April 30, 2024 16/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 16/26 | OMV Group
Slide 17: Fuels & Feedstock – Earnings declined vs. strong Q1/23
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 7: Fuels & Feedstock – Earnings declined vs. strong Q1/23 due to lower refining indicator margins and a decreased marketing and JV contribution The clean CCS Operating Result declined by 48 percent to 303 million euros compared with the very
Slide 18: OMV Q1 2024 Results Conference Call, April 30, 2024 18/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 18/26 | OMV Group
Slide 19: Energy – Earnings declined, primarily due to lower gas prices
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 8: Energy – Earnings declined, primarily due to lower gas prices and decreased sales volumes The clean Operating Result of the Energy segment decreased by 29 percent to 1 billion and 50 million euros from the strong prior-year level, primaril
Slide 20: OMV Q1 2024 Results Conference Call, April 30, 2024 20/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 20/26 | OMV Group
Slide 21: Cash flow – Organic free cash flow before dividends at EUR 1 bn
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 9: Cash flow – Organic free cash flow before dividends at EUR 1 bn for Q1/24 Turning to cash flow, at 1.9 billion euros, the cash flow from operating activities – excluding net working capital effects – in the first quarter of 2024 almost rea
Slide 22: OMV Q1 2024 Results Conference Call, April 30, 2024 22/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 22/26 | OMV Group
Slide 23: Strong balance sheet – Very low leverage ratio and high cash position
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 10: Strong balance sheet – Very low leverage ratio and high cash position Our balance sheet remained very strong. Net debt at the end of March amounted to 1.2 billion euros, a reduction of around 900 million euros compared with the end of las
Slide 24: OMV Q1 2024 Results Conference Call, April 30, 2024 24/26 | OMV Group
OMV Q1 2024 Results Conference Call, April 30, 2024 24/26 | OMV Group
Slide 25: Updated outlook 2024
OMV Q1 2024 Results Conference Call, April 30, 2024 Slide 11: Updated outlook 2024 Let me conclude with the outlook for this year. We have increased our expectation for the Brent price to an average of around 85 dollars per barrel for 2024. Due to warmer weather than expected in winter and high inve
Slide 26: Energy production guidance and cash flow items
OMV Q1 2024 Results Conference Call, April 30, 2024 In Energy, we are reconfirming the full-year production guidance. In the second quarter, we will have planned maintenance in Norway. Please keep in mind that we had significantly lower oil sales in the first quarter due to under liftings in Libya.
OMV Aktiengesellschaft — Q1 2024 Earnings Presentation on 6ix