Slide 1: Q1 2024 Results Conference Call
Q1 2024 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO April 30, 2024 1 | Q1 2024 Conference Call, April 30, 2024 © OMV Group
Slide 2: Disclaimer
Q1 2024 Results conference call Disclaimer 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”, “target”, “objective”, “estimate”, “goal”, “may”, “will”, and sim
Slide 3: Macro environment
Macro environment Stable oil prices, lower gas prices, healthy refining margins, and higher polyolefins indicator margins Oil prices Gas prices USD/bbl EUR/MWh Realized gas price Central European Gas Hub Average Brent price Average realized crude price 56 38 40 34 28 81 87 84 83 35 78 29 26 27 22 78
Slide 4: Key messages
Q1 2024 Results conference call Key messages FINANCIAL OPERATIONS DELIVERING THE PERFORMANCE Q1/24 Q1/24 STRATEGY Clean CCS Operating Result of Polyolefin sales incl. JVs OMV listed in Dow Jones Sustainability World EUR 1.5 bn +3% y-o-y Index (DJSI World) for 6th consecutive year (29)% y-o-y Closed
Slide 5: Clean CCS Earnings
Clean CCS Earnings Slightly higher profitability vs. Q4/23, but a decrease versus extraordinary prior-year quarter Clean CCS Operating Result Clean CCS net income attributable to Clean CCS Earnings Per Share EUR mn stockholders EUR Chemicals & Materials EUR mn Fuels & Feedstock Energy Corporate & Ot
Slide 6: Chemicals & Materials
Chemicals & Materials Earnings increased due to positive inventory effects and better result of JVs, partially offset by weaker olefin margins Clean Operating Result EUR mn +35 Nitro: business divested in July 2023 Olefins & Polyolefins Europe 129 ● Market environment and inventory effects 33 ● Lowe
Slide 7: Fuels & Feedstock
Fuels & Feedstock Earnings declined vs. strong Q1/23 due to lower refining indicator margins and a decreased marketing and JV contribution Clean CCS Operating Result EUR mn ● Lower refining indicator margin at USD 10.8/bbl (Q1/23: USD 14.8/bbl), mainly driven by naphtha and middle distillates cracks
Slide 8: Energy
Energy Earnings declined, primarily due to lower gas prices and decreased sales volumes Clean Operating Result EUR mn ● Market environment –430 ● Average realized crude oil price increased by 2% ● Average realized natural gas price declined by -38% 1,479 ● Negative FX impact due to weaker USD/EUR Ga
Slide 9: Cash Flow
Cash Flow Organic free cash flow before dividends at EUR 1 bn for Q1/24 Cash flow Q1/24 vs. Q1/23 EUR bn Q1/23 ● Cash flow from operating activities excluding net working capital effects of 2.0 Q1/24 EUR 1.9 bn 1.9 1.8 ● Dividends received from ADNOC Refining and Trading of EUR 216 mn ● Net working
Slide 10: Strong balance sheet
Strong balance sheet Very low leverage ratio and high cash position Leverage ratio Net debt in EUR bn 9.3 End of March 2024 OMV cash position1 32% 6.0 EUR 7.9 bn 4.7 22% 21% End of March 2024 OMV undrawn committed 2.2 2.1 credit facilities 1.2 8% 8% 4% EUR 5.3 bn 2019 2020 2021 2022 2023 Q1 2024 1 i
Slide 11: Updated outlook 2024
Q1 2024 Results Updated outlook 2024 2023 Q1 2024 2024 Brent oil price (USD/bbl) 83 83 ~85 (previous ~80) THE gas price (EUR/MWh) 41 28 slightly <30 (previous ~30-35) Average realized gas price (EUR/MWh) 29 22 20-25 (previous ~25) Europe ethylene indicator margin (EUR/t) 507 475 ~490 Europe propylen
Slide 12: Appendix
APPENDIX 12 | Q1 2024 Conference Call, April 30, 2024 © OMV Group
Slide 13: Chemicals & Materials
Chemicals & Materials Significantly higher earnings driven by increased polyolefin indicator margins and stronger utilization rate Clean Operating Result EUR mn +125 5 129 Olefins and polyolefins in Europe ● Market environment and inventory effects ● Lower ethylene and propylene indicator margins (-
Slide 14: Fuels & Feedstock
Fuels & Feedstock Decreased earnings mainly due to lower retail and commercial performance Clean CCS Operating Result EUR mn –65 -18% 368 23 88 303 ● Higher refining indicator margin Europe (USD 10.8 vs 9.9/bbl) ● Operational performance ● Slightly lower refinery utilization rate (85% vs 89%) ● Lowe
Slide 15: Energy
Energy Slightly more favorable market environment and higher Gas Marketing and Power contribution Clean Operating Result EUR mn +9 ● Market environment 1,041 1,050 ● Average realized oil price decreased by 3% Gas Marketing 26 &Power 98 170 ● Average realized gas price decreased by 18% 153 296 ● Imma
Slide 16: Strong balance sheet
Balance sheet Strong balance sheet Balance sheet March 31, 2024 vs. December 31, 2023 EUR bn 50.7 51.3 51.3 50.7 ● Equity-accounted investments: decrease impacted Stockholders’ equity by dividend distributions amounting to EUR 447 mn, 18.8 18.2 Tangible & 21.9 21.9 and hybrid capital mainly from Bor