Slide 1: OMV Q1 2023 Results Conference Call
OMV Q1 2023 Results Conference Call April 28, 2023 OMV Aktiengesellschaft Alfred Stern Chairman of the Executive Board and CEO The spoken word applies 1/22 | OMV Group
Slide 2: OMV Q1 2023 Results Conference Call, April 28, 2023 2/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 2/22 | OMV Group
Slide 3: Macro environment – Declining oil and gas prices, strong refining margins
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 3: Macro environment – Declining oil and gas prices, strong refining margins and weak chemical market environment Ladies and gentlemen, good morning and thank you for joining us. The first quarter of 2023 was characterized by declining oil an
Slide 4: OMV Q1 2023 Results Conference Call, April 28, 2023 4/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 4/22 | OMV Group
Slide 5: Key messages
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 4: Key messages At around 2.1 billion euros, our clean CCS Operating Result was strong, at a similar level to the previous quarter, but declined compared with the exceptional prior-year quarter. Our cash flow from operating activities rose by
Slide 6: OMV Q1 2023 Results Conference Call, April 28, 2023 6/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 6/22 | OMV Group
Slide 7: Clean CCS Earnings – Continued strong performance
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 5: Clean CCS Earnings – Continued strong performance Let’s now turn to our financial performance in the first quarter of 2023. Our clean CCS Operating Result came in strong once again at 2.1 billion euros, stable quarter-on-quarter and 21 per
Slide 8: OMV Q1 2023 Results Conference Call, April 28, 2023 8/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 8/22 | OMV Group
Slide 9: Chemicals & Materials – Materially lower Nitro results, weaker market environment
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 6: Chemicals & Materials – Materially lower Nitro results, weaker market environment, lower sales and margins, as well as decreased contribution from JVs Let’s now discuss the performance of our business segments. Compared to the first quarte
Slide 10: Chemicals & Materials: JV performance (Baystar, Borouge)
OMV Q1 2023 Results Conference Call, April 28, 2023 The performance of the JVs dropped to 1 million euros driven by a negative contribution from Baystar and a lower contribution from Borouge. The Borouge result declined, driven by industry-wide pricing pressure, a lower share of OMV in the JV follow
Slide 11: OMV Q1 2023 Results Conference Call, April 28, 2023 11/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 11/22 | OMV Group
Slide 12: Fuels & Feedstock – Significantly higher refining margins
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 7: Fuels & Feedstock – Significantly higher refining margins, improved margins in Marketing, and stronger contribution from ADNOC Refining The clean CCS Operating Result in Fuels & Feedstock almost tripled to 581 million euros due to very str
Slide 13: OMV Q1 2023 Results Conference Call, April 28, 2023 13/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 13/22 | OMV Group
Slide 14: Energy – Lower oil and gas prices, exclusion of Russia
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 8: Energy – Lower oil and gas prices, exclusion of Russia, partially offset by stronger Gas Marketing & Power result The clean Operating Result of Energy declined by 23 percent to 1.5 billion euros, on the back of lower realized commodity pri
Slide 15: OMV Q1 2023 Results Conference Call, April 28, 2023 15/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 15/22 | OMV Group
Slide 16: Strong organic free cash flow at EUR 1.8 bn
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 9: Strong organic free cash flow at EUR 1.8 bn Turning to cash flow, our first-quarter operating cash flow – excluding net working capital effects – was 2 billion euros, 40 percent lower than in the first quarter of 2022. In the prior- year q
Slide 17: OMV Q1 2023 Results Conference Call, April 28, 2023 17/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 17/22 | OMV Group
Slide 18: Strong balance sheet – Leverage ratio at 2%
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 10: Strong balance sheet – Leverage ratio at 2%, reflecting the strong underlying cash generation Moving on to the balance sheet, since the end of last year we have been able to further reduce net debt by around 1.6 billion euros to 639 milli
Slide 19: OMV Q1 2023 Results Conference Call, April 28, 2023 19/22 | OMV Group
OMV Q1 2023 Results Conference Call, April 28, 2023 19/22 | OMV Group
Slide 20: Updated outlook 2023
OMV Q1 2023 Results Conference Call, April 28, 2023 Slide 11: Updated outlook 2023 Let me conclude with the outlook for this year, which remains largely unchanged. Based on the developments we have seen so far, our estimate for the Brent oil price for full year remains above 80 dollars per barrel. L
Slide 21: Outlook 2023: refining margin, Energy guidance
OMV Q1 2023 Results Conference Call, April 28, 2023 sluggish demand. Hence, from today’s point of view we see the refining indicator margin more toward the lower end of the previously communicated range of 10 to 15 dollars per barrel for this year. The guidance for sales volumes is unchanged. Petrob
Slide 22: Outlook continued and closing remarks
OMV Q1 2023 Results Conference Call, April 28, 2023 of June. Regarding the divestment of the Slovenian Marketing business, a further milestone has been reached. In March, the buyer signed an agreement to sell some existing filling stations as a pre-requisite for obtaining the EU Commission clearance