Slide 1: Q1 2023 Results Conference Call
Q1 2023 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO April 28, 2023 1 | Q4 2022 Conference Call, February 2, 2023 © OMV Group
Slide 2: Disclaimer
Q1 2023 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 Declining oil and gas prices, strong refining margins and weak chemical market environment Oil prices Gas prices USD/bbl EUR/MWh Realized gas price Central European Gas Hub Average Brent price Average realized crude price 201 114 102 101 102 101 99 107 89 99 81 56 90 86 82 78 57 46
Slide 4: Key messages
Q1 2023 Results conference call Key messages FINANCIAL OPERATIONS DELIVERING THE PERFORMANCE Q1/23 Q1/23 STRATEGY Clean CCS Operating Result of Polyolefin sales incl. JVs Aker BP and OMV awarded license for EUR 2.1 bn (4)% y-o-y CO2 storage (21)% y-o-y Total fuel sales and others Wien Energie and OM
Slide 5: Continued strong performance
Clean CCS Earnings Continued strong performance 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 & Other 2,621 1,070 584 1,025 2,101 2,079 57 94 209 3.27 3.13 684 581 7
Slide 6: Chemicals & Materials
Chemicals & Materials Materially lower Nitro results, weaker market environment, lower sales and margins, as well as decreased contribution from JVs Clean Operating Result EUR mn Nitro: significant decrease due to significantly lower inventory effects, lower sales (490) volumes and margins 584 Olefi
Slide 7: Fuels & Feedstock
Fuels & Feedstock Significantly higher refining margins, improved margins in Marketing, and stronger contribution from ADNOC Refining Clean CCS Operating Result EUR mn +372 581 125 ● Significantly higher refining indicator margin Europe (USD 14.8/bbl vs. 6.8/bbl) ● Operational performance ● Stable r
Slide 8: Energy
Energy Lower oil and gas prices, exclusion of Russia, partially offset by stronger Gas Marketing & Power result Clean Operating Result EUR mn ● Market environment ● Average realized crude oil price decreased by 14% (437) ● Average realized natural gas price declined by 7% 1,916 ● Realized hedging lo
Slide 9: Strong organic free cash flow at EUR 1.8 bn
Cash Flow Strong organic free cash flow at EUR 1.8 bn Cash flow 3m/23 vs. 3m/22 EUR bn ● Decrease of ~EUR 1.3 bn in cash flow from operating activities excluding net working capital effects vs. Q1/22 -1.3 3m/22 ● Net working capital effects of EUR 0.7 bn 3.4 3m/23 (3m/22: EUR (0.7) bn) ● Cash flow f
Slide 10: Strong balance sheet
Strong balance sheet Leverage ratio at 2%, reflecting the strong underlying cash generation Leverage ratio Net debt in EUR bn 9.3 End of March 2023 OMV cash position1 6.0 32% EUR 9.7 bn 4.7 22% 21% End of March 2023 OMV undrawn committed 2.2 credit facilities 8% 0.6 2% EUR 5.2 bn 2019 2020 2021 2022
Slide 11: Updated outlook 2023
Q1 2023 Results Updated outlook 2023 2022 2023 Brent oil price (USD/bbl) 101 >80 Average realized gas price (EUR/MWh) 54 ~35 Europe ethylene indicator margin (EUR/t) 560 ~530 Europe propylene indicator margin (EUR/t) 534 ~480 Europe polyethylene indicator margin (EUR/t)1 390 ~350 Europe polypropylen
Slide 12: Appendix
APPENDIX 12 | Q1 2023 Conference Call, April 28, 2023 © OMV Group
Slide 13: Chemicals & Materials
Chemicals & Materials Higher sales volumes and specialty margins, partly offset by weaker market environment Clean Operating Result EUR mn +37 Nitro: Higher result driven by inventory effects and seasonally higher sales volumes Inventory Olefins and polyolefins in Europe 18 effects 9 94 ● Market env
Slide 14: Fuels & Feedstock
Fuels & Feedstock Lower refining margins, partially compensated for by higher margins in retail and commercial Clean CCS Operating Result EUR mn (102) -15% 684 107 581 5 ● Lower refining indicator margin Europe (USD 14.4 vs 17.5/bbl) ● Operational performance ● Slightly lower refinery utilization ra
Slide 15: Energy
Energy Strong contribution from Gas Marketing & Power almost offset by weaker market environment Clean Operating Result EUR mn +125 ● Weaker market environment 1,479 ● Realized oil price decreased by -10% 1,354 101 ● Realized gas price decreased by -24% 358 ● Negative FX impact due to weaker USD/EUR
Slide 16: Strong balance sheet
Balance sheet Strong balance sheet Balance sheet March 31, 2023 vs. December 31, 2022 EUR bn 56.4 56.4 54.4 54.4 ● Decrease in inventories driven by withdrawal from gas storage and overall lower price environment compared to Tangible & 19.1 Q4/22 21.8 Stockholders’ equity intangible assets 19.2 22.0
Slide 17: Sensitivities of the OMV Group results in 2023
2023 Sensitivities Sensitivities of the OMV Group results in 2023 Annual impact excl. hedging Clean CCS Operating Operating cash flow in EUR mn Result Brent oil price (USD +1/bbl) +55 +25 Realized gas price (EUR +1/MWh) +75 +40 OMV indicator refining margin Europe (USD +1/bbl) +110 +85 Ethylene indi