Omv Petrom Sa · BVB:SNP
Omv Petrom Sa — Investor Presentation (June 2023)
80 slides from Omv Petrom Sa's investor presentation, June 2023
Slide 1: Capital Market Story
Capital Market Story June 2023 OMV Petrom S.A.
Slide 2: Contents
Contents 1 | Investment proposition 2 | Strategy 2030 3 | Q1/23 results 4 | Outlook 2023 5 | FY22 results 6 | Appendix All figures throughout this presentation refer to OMV Petrom Group (hereinafter also referred to as “the Group”), unless otherwise stated; figures are rounded, and they may not add
Slide 3: Disclaimer
Disclaimer This presentation does not, and is not intended to, constitute or form part of, and None of the future projections, expectations, estimates or prospects in this should not be construed as, constituting or forming part of, any actual offer to sell presentation, including (without being lim
Slide 4: Investment proposition
Investment proposition OMV Petrom S.A.
Slide 5: OMV Petrom investment proposition: growth, dividends and sustainability
OMV Petrom investment proposition: growth, dividends and sustainability Strong value creation Strong balance sheet Reduce carbon footprint Gearing ratio below 20% through the Net zero operations by 2050 period Rigorous capital discipline Sustainability at the core of our business CAPEX of EUR ~11 bn
Slide 6: Committed to highly competitive dividend distribution over the strategic cycle
Committed to highly competitive dividend distribution over the strategic cycle Dividend increase Special dividends Dividends p.a. on average % of operating cash flow 1 In favorable market environment, at management discretion, provided that our 5%-10% CAPEX plans are funded. € ~40% Committed to deli
Slide 7: Our business model
Our business model Moldova Ukraine Romania 69 Moldova Romania 162 48% 60% Production 1P reserves Black Sea 43 mn boe 380 mn boe 393 Refinery Serbia 52% 40% Gas-fired power plant Gas Oil 63 93 Bulgaria Bulgaria - Han Asparuh Bulgaria Refining & Marketing Gas & Power ► Petrobrazi refinery, 4.5 mn t/yr
Slide 8: Shareholder structure and capital market environment
Shareholder structure and capital market environment OMV Petrom S.A. shareholder structure1 Share price performance4 % Index Jan 2020 = 100 140 110 28% 51% 80 50 May-20 Sep-20 May-21 Mar-22 May-22 May-23 Mar-20 Jul-20 Mar-21 Jul-21 Sep-21 Jul-22 Sep-22 Mar-23 Nov-20 Nov-21 Nov-22 Jan-20 Jan-21 Jan-2
Slide 9: Strategy 2030: Transforming for a lower carbon future
1 | Strategy overview 2 | Energy context 3 | Transition to low and zero carbon Strategy 2030: 4 | Grow regional gas Transforming for a 5 | Optimize traditional business lower carbon future 6 | Financial frame OMV Petrom S.A.
Slide 10: OMV Petrom: transforming for a lower carbon future
OMV Petrom: transforming for a lower carbon future We will lead the energy transition in South-East Europe, capitalizing on emerging market opportunities Romania is among the fastest growing economies in Europe, driving increasing energy demand OMV Petrom is well placed to meet this demand wit
Slide 11: OMV Petrom Strategy 2030: Transforming for a lower carbon future
OMV Petrom Strategy 2030: Transforming for a lower carbon future Strong capital discipline & dividend policy Transition to low and zero carbon Energy transition leader for Romania and SEE Optimize traditional Grow regional business gas Innovation & People & Responsible Digitalization Communities ope
Slide 12: OMV Petrom: Building a diversified, integrated energy transition business
OMV Petrom: Building a diversified, integrated energy transition business OMV Petrom portfolio 2030 Clean CCS EBIT CAPEX % % 1 7 15 35 Renewable power Gas Biofuels 35 Gas based Alternative 20 power mobility 100 92 Fuels CCU&S Adding 50 45 5 low carbon Blue and Oil business activities green H2 by 203
Slide 13: Strategy 2030: Transforming for a lower carbon future
1 | Strategy overview 2 | Energy context 3 | Transition to low and zero carbon Strategy 2030: 4 | Grow regional gas Transforming for a 5 | Optimize traditional business lower carbon future 6 | Financial frame OMV Petrom S.A.
Slide 14: Romania is one of Europe’s fastest growing economies
Romania is one of Europe’s fastest growing economies, in a rapidly changing energy context European energy environment is going through Romanian GDP per capita set to significant transformation grow1 CAGR, % 4.3 3.4 Energy security Fit for 55 2.3 1.5 0.4 -0.5 2010-20 2021-30 Romania Other SEE EU Tec
Slide 15: Strong growth in energy demand in Romania to 2030
Strong growth in energy demand in Romania to 2030 Gas - household Power - household Gas demand Power demand consumption1 consumption1 Romania2 Romania2 MWh per capita MWh per capita TWh TWh 2.3 Romania Other SEE +20% -10% EU 1.7 1.6 1.5 121 +10% 1.0 +10% 60 0.4 2019 2019 2019 2030 2040 2019 2030 204
Slide 16: Economic growth and rising living standards drive fuel consumption growth to 2030
Economic growth and rising living standards drive fuel consumption growth to 2030 Motorization rate1 Diesel demand2,3 Gasoline demand2,3 Jet demand2,3 cars/1000 inhabitants mn t mn t mn t +20% +10% +5% -30% -15% +10% 12.9 2.6 1.1 570 1.0 2.4 0.9 10.8 2.2 440 9.0 360 Fossil Bio 2019 2019 2030 2040 20
Slide 17: Strategy 2030: Transforming for a lower carbon future
1 | Strategy overview 2 | Energy context 3 | Transition to low and zero carbon Strategy 2030: 4 | Grow regional gas Transforming for a 5 | Optimize traditional business lower carbon future 6 | Financial frame OMV Petrom S.A.
Slide 18: Key directions to decarbonization
Key directions to decarbonization Decarbonize current operations Expand lower carbon gas business Pursue new low and zero carbon business opportunities 18 | OMV Petrom Capital Market Story – June 2023
Slide 19: Paving the way to Net Zero operations in 2050
Paving the way to Net Zero operations in 2050 Scope 1 – 21 emissions Scope 1 – 2 carbon intensity2 mn t CO2 eq reduction % 4.9 -50% E&P Refining Power 4.3 -30% > 15% > 20% Gas & Power Refining & Marketing Exploration & Production > 70% 2010 2019 2030 -30% Actions aimed at reducing Scope 1 & 2 by 203
Slide 20: Carbon intensity of energy supply to drop ~20% by 2030
Carbon intensity of energy supply to drop ~20% by 2030 Scope 1 – 3 Net carbon intensity of energy supply g CO2 eq/MJ -35% 80 -20% 70 ~20% reduction in Scope 1-3 carbon emissions1 EU Taxonomy eligible CAPEX to reach 35%2 Lower and zero carbon energy for customers, to account for ~60% in total p
Slide 21: Well positioned to capture Romania's solar potential
Well positioned to capture Romania's solar potential and develop a renewable power portfolio Photovoltaic Renewable Opportunities OMV Petrom target total capacity, power including partnerships, GW Photovoltaic ► Romania: the highest solar potential in the region ► > 10% contribution to the 2030 tota
Slide 22: Biofuels to exceed 15% in our total fuel production in 2030
Biofuels to exceed 15% in our total fuel production in 2030 Biofuels Biofuel Opportunities OMV Petrom target capacity, kt/year Advanced ethanol: ► Romania: unique combination of straw availability and cost Cellulosic ethanol ► Upgrading agricultural residues with potential for carbon- 0 50 150 from
Slide 23: Future mobility: capturing new energy mix opportunities
Future mobility: capturing new energy mix opportunities Electro Mobility Charging points with alternative fuels Grow e-mobility offer and become the preferred partner for electric fleets > 500 H2 mobility Active contribution to the development of H2 mobility - solution to decarbonize heavy duty tran
Slide 24: Unique opportunities in new energy technologies
Unique opportunities in new energy technologies Carbon capture, utilization & storage Hydrogen ► Romania: significant on- & offshore long-term CO2 storage ► Romania: gas production and renewable energy availability - potential to be evaluated opportunity for blue and green H2 production ► OMV Petrom
Slide 25: Investing in low and zero carbon businesses generating attractive return
Investing in low and zero carbon businesses generating attractive return Future mobility (EV, H2, Gas) Capex1 Biofuels New technologies ~EUR 3.7 bn (CCS, H2 etc.) IRR 9-15% Renewable power 1 Projects selection and prioritization will be based on risk and return assessments, including regulatory deve
Slide 26: Strategy 2030 execution - Transition to low and zero carbon
Strategy 2030 execution - Transition to low and zero carbon 2023 Continue Progress with the 1st Production capacity to Further expand EV developing our SAF/HVO plant increase by 50 kt/y by charging network renewables 2026 portfolio Focus areas Execution Partnership First batch of SAF FID for new uni
Slide 27: Strategy 2030: Transforming for a lower carbon future
1 | Strategy overview 2 | Energy context 3 | Transition to low and zero carbon Strategy 2030: 4 | Grow regional gas Transforming for a 5 | Optimize traditional business lower carbon future 6 | Financial frame OMV Petrom S.A.
Slide 28: Neptun Deep – a growth project for OMV Petrom and Romania
Neptun Deep – a growth project for OMV Petrom and Romania Robust economics to support Delivering on Ensure Romania’s OMV Petrom’s Strategy 2030 security of supply transformation and dividend policy ~50% increase in Gas production will Romania will become the OMV Petrom 2030 double and account for EU
Slide 29: Neptun Deep – a transformational project
Neptun Deep – a transformational project Project view: 100% interest ● FID: mid-year 2023 Neptun Deep ● First Gas: 2027 ● Production at plateau 1: ~140 kboe/d Operator, 50% ● Production cost 2: ~3 USD/boe ● Estimated recoverable volumes 3: ~100 bcm ● Development CAPEX: 3.8 - 4.0 EUR bn ● IRR 4 LoF:
Slide 30: Timeline - Our journey to the Development phase
Timeline - Our journey to the Development phase 2008 2011-12 2014-15 Q1 2023 JV with First drilling Second drilling Tuzla-Podisor XOM campaign campaign capacity signed booking Domino 1 Pelican South signed with first discovery discovery Transgaz 2009 2012-13 August 2022 Mid-2023 First 3D Second 3D O
Slide 31: Development concept to bring novelties in the Romanian Black Sea
Development concept to bring novelties in the Romanian Black Sea ● Zero harm ● Deploy innovative policy solutions 5 1 Domino reservoir ● ~1,000 m water depth ● Will produce via two subsea drill centers from 6 wells 4 2 Pelican South reservoir ● ~120 m water depth 2 ● Will produce via one subsea dril
Slide 32: We are leveraging our experience while adding new capabilities
We are leveraging our experience while adding new capabilities Deep water mega project Shallow offshore management skills ● Gas fields operator for more than 4 decades ● International capabilities with strong ● Shallow offshore currently at ~25% of total experience in global deep-water projects gas
Slide 33: Neptun Deep gas to have access to Romania and other potential gas markets
Neptun Deep gas to have access to Romania and other potential gas markets EU 1 Hungary1 Moldova1 ~350 bcm ~9 bcm ~1 bcm Romania1 ~10 bcm Market demand 2022 Bulgaria1 Interconnecting Capacities in place ~3 bcm 1 Net importer 33 | OMV Petrom Capital Market Story – June 2023
Slide 34: Neptun Deep, a game-changer for OMV Petrom and Romania
Neptun Deep, a game-changer for OMV Petrom and Romania Significantly boosts our Generates strong growth Improves carbon hydrocarbon production in profits to support competitiveness of our and shifts gas weight to investments in low and upstream portfolio as it 70% from current 50% zero carbon busine
Slide 35: Build additional opportunities in the Black Sea
Build additional opportunities in the Black Sea New offshore exploration wells 2-4 By 2030 Exploration expenditures EUR mn ~30 Annual average 2022-2030 Bulgaria – Han Asparuh OMV Petrom (42.9%), TotalEnergies (57.1% Operator) Black Sea Status: 5,000 km2 3D seismic data processing Bulgaria - Han
Slide 36: Strategy 2030: Transforming for a lower carbon future
1 | Strategy overview 2 | Energy context 3 | Transition to low and zero carbon Strategy 2030: 4 | Grow regional gas Transforming for a 5 | Optimize traditional business lower carbon future 6 | Financial frame OMV Petrom S.A.
Slide 37: Maximize potential of current E&P assets
Maximize potential of current E&P assets Focus on most profitable Value over volume Strict cost management barrels Maximize economic recovery: Enhance competitiveness Portfolio optimization through cost optimization > 400 workovers p.a. Disciplined approach on Streamline footprint and ca
Slide 38: Transforming while delivering strong cash flows
Transforming while delivering strong cash flows Hydrocarbon production Production cost Operating cash flow kboe/d USD/boe USD/boe > 160 -35% 138 > 5% 30% ~16 CAGR 11 95-100 46% 50% >7 11 70% 54% 50% 2020 2025 2030 2020 2025 2030 2020 2025 2030 Gas Oil 38 | OMV Petrom Capital Market Story – June 2023
Slide 39: Petrobrazi to capture demand growth
Petrobrazi to capture demand growth Refinery utilization1 > 95 % Annual average 2022-2030 Expand aromatics kt/year +50 2026 Black liquid products yield2 -50% 2030 vs 2020 Bottom of the barrel upgrade3 ~200 kt/year 2030 1 Refers to crude distillation unit; 2 Fuel oil yield decreases from 6% in 2020;
Slide 40: Dual brand strategy to drive new value
Dual brand strategy to drive new value Customer focus Throughput per filling station1 Profitability per filling station2 Non-fuel business margin2 mn l k EUR EUR mn 20% 20% 100% 5 80 2020 2025 2030 2020 2025 2030 2020 2025 2030 1 In Romania; 2 Data refer to OMV Petrom operating region which includes
Slide 41: Mobility services of the future
Mobility services of the future #The future is diverse #Mobility and service hub #Digitally enabled smart mobility Customer access – is a competitive Service stations – enable our network One single digital gate to our brand – advantage which will allow us to make to increase receptiveness to custom
Slide 42: Support gas and power customers in their energy transition
Support gas and power customers in their energy transition Total gas sales TWh 70 2030 Customers increase 20x 2030 vs 2020 Net electrical output TWh/year > 3.5 Average 2022-2030 Green power sales volume % in total > 20% 2030 42 | OMV Petrom Capital Market Story – June 2023
Slide 43: Strategy 2030 execution - Optimize traditional business
Strategy 2030 execution - Optimize traditional business 2023 Finalize roll-out in Continue portfolio Intensified regional 400 Petrom- optimization; Petrobrazi operations branded stations refinery >85% utilization rate; Brazi planned shutdown Focus areas Execution 2022 275 new stores Increased drilli
Slide 44: Strategy 2030: Transforming for a lower carbon future
1 | Strategy overview 2 | Energy context 3 | Transition to low and zero carbon Strategy 2030: 4 | Grow regional gas Transforming for a 5 | Optimize traditional business lower carbon future 6 | Financial frame OMV Petrom S.A.
Slide 45: Our strategy is enabled by a resilient financial frame
Our strategy is enabled by a resilient financial frame Rigorous capital Strong financial Attractive returns to discipline performance shareholders CAPEX1 of ~EUR 11 bn We target more than 5%-10% p.a. dividend ~35% CAPEX for low & double clean CCS EBIT growth zero carbon business by 20302 D
Slide 46: Rigorous capital discipline underpins strategic directions
Rigorous capital discipline underpins strategic directions Average annual CAPEX per strategic pillar CAPEX breakdown per business segment EUR bn EUR bn 80% 1.3 1.3 1.1 1.1 IRR > 9% 0.7 0.7 IRR >12% IRR > 12% 2017-2021 2022-2025 2026-2030 2017-2021 2022-2025 2026-2030 Low and zero carbon Gas & Power
Slide 47: Strong financial performance across the entire business
Strong financial performance across the entire business Clean CCS EBIT Clean CCS EBIT Clean CCS ROACE per strategic pillar1 per business segment1 % EUR bn % > 1.5 5 > 12 40 9 ~ 0.7 7 10 0.5 60 55 33 67 30 2020 2025 2030 2020 2025 2030 2020 2025 2030 Low and zero carbon Gas & Power Regional gas Refin
Slide 48: Resilience under downside-price scenario
Resilience under downside-price scenario1 Clean CCS EBIT EUR bn Base case Downside scenario Under downside price scenario: > 1.5 2030 Clean CCS EBIT to double versus 2020 Commitment to pay progressive dividends ~1.0 maintained 0.7 CAPEX plans largely unchanged by 2030 0.5 0.5 0.4 Gearing rat
Slide 49: We deliver sustainable long-term value for our shareholders
We deliver sustainable long-term value for our shareholders Sustainable long-term value Attractive shareholder returns Delivering ~35% CAPEX for low & zero carbon sustainable 5% - 10% p.a. growth in base dividend Clean CCS EBIT more than double shareholder Potential special dividends1 by 203
Slide 50: Strategy 2030 price assumptions
Strategy 2030 price assumptions Base case prices 2022 - 2030 Downside-price scenario 2022 - 2030 Brent oil 65 – 70 Brent oil ~50 USD/bbl USD/bbl Indicator refining margin 5–6 Indicator refining margin 3–4 USD/bbl USD/bbl CO2 55 – 100 CO2 60 – 110 EUR/tCO2 EUR/tCO2 Electricity price 70 – 90 Electrici
Slide 51: Q1/23 results
Q1/23 results OMV Petrom S.A.
Slide 52: Volatile yet lower commodity prices
Volatile yet lower commodity prices Oil prices FX OMV Petrom indicator refining margin1 USD/bbl RON/USD, RON/EUR USD/bbl 4.9 4.9 4.9 4.9 4.9 4.9 4.8 24.4 4.4 4.6 4.6 18.3 17.1 18.8 16.6 102 90 114 101 79 89 81 74 64 51 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Avg USD/RON Avg EUR/R
Slide 53: Romanian environment: negative demand evolution
Romanian environment: negative demand evolution GDP 4.8% 2.8% 2.4% 3.7% Growth expected 20221 Q1/231 2023e2 2024e2 Inflation 10.6% 7.1% 4.2% (CPI) On a downward May 23/May 221 2023e3 2024e3 trend Romania maintained at investment grade by major rating agencies4 Demand Q1/23 yoy 2022 yoy Fuels5 -3% +2
Slide 54: High regulatory interventions
High regulatory interventions Regulations in place Increasingly regulated gas sales portfolio Gas and power market: Q1/22 Q4/22 16% 22% Law 357/2022: approving GEO 119/2022; applicable until 84% March 2025 55% GEO 153/2022: obligation to sell a significant part of the 23% electricity produced at
Slide 55: Key messages Q1/23
Key messages Q1/23 Strong financial performance Clean CCS Operating result Operating Cash Flow Clean CCS ROACE RON 2.1 bn RON 4.7 bn 37.3% -7% yoy +77% yoy +19pp yoy Good operational performance Strategic focus Contribution from drilling and workover partly offset natural Neptun Deep: decline
Slide 56: Good operational performance in the context of lower market demand
Good operational performance in the context of lower market demand Exploration and Production Refining and Marketing Gas and Power Hydrocarbon production Refinery utilization rate Gas sales volumes kboe/d % TWh -4% -4% 00% pp +3% 121 120 117 118 116 98 99 99 98 12.7 12.5 13.1 11.0 58 57 56 57 56 9.8
Slide 57: Increasing CAPEX
Increasing CAPEX Group CAPEX1 RON bn Q1/23 2023E ~6 RON 1.0 bn: RON ~6.0 bn: 8 new wells and sidetracks; ~130 Wells and sidetracks: ~55; ~450 workovers workovers Coke drums replacement Neptun Deep project 3.6 Planned major turnaround in Petrobrazi 2.8 Preparations for major turnaroun
Slide 58: Income Statement: resilient results
Income Statement: resilient results Clean CCS Operating Result RON bn -7% Q1/23 Clean CCS Operating Result reflects: 2.2 2.1 2.1 ► Lower commodity prices and refining margin 0.7 0.1 0.7 0.6 0.9 0.6 ► Higher sales volumes of fuel products and gas 1.1 1.1 1.0 ► Lower industry specific taxation -0.2
Slide 59: Clean CCS Operating Results supported by good performance, despite lower prices and reduced demand
Clean CCS Operating Results supported by good performance, despite lower prices and reduced demand E&P RON mn Positive FX effect on revenues 1,106 164 Lower E&P taxation -284 985 Realized crude price -12%; lower realized gas price Hydrocarbon sales -4% Q1/22 Market effects1 Operational effec
Slide 60: Cash flow
Cash flow Cash Flow from Operating Activities RON bn +77% 4.7 Q1/23 Cash Flow from Operating Activities: 2.6 1.8 2.9 ► Decrease in operating cash flow before working capital changes 3.3 2.7 ► Positive NWC 1.7 -0.6 -0.9 Q1/22 Q4/22 Q1/23 Cash generated from operating activities before net working c
Slide 61: Outlook 2023
OMV Petrom S.A. @® OMV Petrom The energy for a better life.
Slide 62: Outlook
Outlook Indicators Actual Assumptions/ Targets Assumptions/ Targets Q1/23 2023 2024-2025 averages Brent oil price USD 81.2/bbl USD >80/bbl USD ~75/bbl Production 1 116 kboe/d ~110 kboe/d 95 – 100 kboe/d Refining margin USD 16.6/bbl USD >9/bbl USD ~9/bbl CAPEX RON 1.0 bn RON ~6.0 bn RON ~7.0 bn FCF b
Slide 63: Sensitivities in 2023
Sensitivities in 2023 2023 sensitivities EBIT impact Brent oil price USD +1/bbl ~EUR +15 mn OMV Petrom USD +1/bbl ~EUR +25 mn indicator refining margin Exchange rates USD appreciation ~EUR +50 mn EUR/USD by 5 USD cents 63 | OMV Petrom Capital Market Story – June 2023
Slide 64: FY22 results
OMV Petrom S.A. @® OMV Petrom The energy for a better life.
Slide 65: Progress on delivering on our sustainability targets recognized by ESG rating agencies
Progress on delivering on our sustainability targets recognized by ESG rating agencies Clear support for Paris Climate Improved and increased number of Agreement ESG ratings E -11% -70% Medium risk 2021: High Carbon intensity, Scope Methane intensity in 1&2 1 E&P 1 A- 3 2021: same S 31% 40 mn EUR C+
Slide 66: Clean CCS Operating Results improved throughout all business segments
Clean CCS Operating Results improved throughout all business segments E&P 5,433 Realized crude price +45% RON mn 14 Higher gas price, partially offset by higher royalties and gas overtaxation 3,605 Positive FX effect on revenues 1,814 Lower depreciation Hydrocarbon sales -7% 2021 Market ef
Slide 67: Exploration & Production KPIs
Exploration & Production KPIs Production cost Key drivers 2022 vs. 2021 +3% USD/boe 12.73 13.15 11.18 Lower production available for sale 10.90 10.88 Increased expenses, including personnel one-offs in H2/22 Favorable FX One-off effect related to tax audit 2018 2019 2020 2021 2022 Hydrocarbo
Slide 68: Refining & Marketing KPIs
Refining & Marketing KPIs OMV Petrom Indicator refining margin Key drivers 2022 vs. 2021 +203% USD/bbl 16.59 Better products spreads, mainly for diesel and gasoline 6.28 5.47 4.67 2.89 2018 2019 2020 2021 2022 Retail sales volumes (mn t) and Retail Operating Result per filling station (trend) +3%
Slide 69: Gas & Power KPIs
Gas & Power KPIs Gas sales volumes Key drivers 2022 vs. 2021 TWh 57.0 -6% -6% 54.8 48.9 Lower equity gas quantities available 47.3 46.1 Deliveries to the regulated market and under supplier of last resort mechanism Expanded regional sales 2018 2019 2020 2021 2022 Brazi net electrical output +5
Slide 70: Appendix
OMV Petrom S.A. @® OMV Petrom The energy for a better life.
Slide 71: Exploration and Production map
Exploration and Production map 71 | OMV Petrom Capital Market Story – June 2023
Slide 72: Romanian oil market overview in 2022
Romanian oil market overview in 2022 Crude Supply Refineries Distribution Production: Refineries Petrobrazi combined nameplate capacity ~13 mn tpa 24% Processed crude oil1 Transportation: Conpet ~11,6 mn t pa of which ~8.9 mn t from import Rompetrol (Petromidia, Vega) Imports: various 66% Lukoil (Pe
Slide 73: OMV Petrom Group
OMV Petrom Group Retail fuel sales mn l Moldova 3,074 3,160 2,798 2,922 2,746 69 117 120 97 101 129 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 Romania 171 175 147 177 185 393 162 Black Sea 2018 2019 2020 2021 2022 Bulgaria 63 Serbia 318 312 243 272 265 Total number of 780 2018 2019 2020 2021
Slide 74: Romanian gas market overview in 2022
Romanian gas market overview in 2022 Regulatory Supply Distribution Demand Regulatory Production: Storage: Supply: Heat & Power incl. Body Romgaz, Depomures Romanian Romgaz, … Energy Industry/ Regulatory Commercial Authority Romgaz, Distrigaz Sud (ANRE) Engie Romania, (Engie), 79% E.ON Energie Delga
Slide 75: Romanian power market overview in 2022
Romanian power market overview in 2022 Regulatory Supply Market(s) Distribution Demand Regulatory Production: Mid/long term fwd Body contract market(s) Coal 19% (OPCOM / bilateral) Romanian Energy Spot (DAM / ID) Internal market Regulatory Gas 19% Transport & market (OPCOM) Authority Distribution Di
Slide 76: Cash flow Statement
Cash flow Statement RON mn 2018 2019 2020 2021 2022 Cash flow from operating activities (CFO) 7,385 6,803 5,556 6,997 11,337 Thereof, Change in net working capital (NWC) 32 -256 964 -433 -3,544 Cash flow from investing activities (CFI) -4,261 -3,556 -3,163 -2,253 -3,104 Cash flow from financing acti
Slide 77: Income Statement
Income Statement RON mn 2018 2019 2020 2021 2022 Sales 22,523 25,485 19,717 26,011 61,344 Clean CCS Operating Result 4,804 4,573 2,287 4,346 12,198 Thereof Exploration & Production 3,224 2,845 7 1,814 5,433 Refining & Marketing 1,335 1,501 1,454 2,041 4,019 Gas & Power 360 282 718 781 2,942 Corporat
Slide 78: Operating Result
Operating Result RON mn 2018 2019 2020 2021 2022 Clean CCS Operating Result 4,804 4,573 2,287 4,346 12,198 Thereof Exploration & Production 3,224 2,845 7 1,814 5,433 Refining & Marketing 1,335 1,501 1,454 2,041 4,019 Gas & Power 360 282 718 781 2,942 Corporate and Other -87 -89 -84 -87 -96 Consolida
Slide 79: Key financial indicators (consolidated)
Key financial indicators (consolidated) in RON mn 2018 2019 2020 2021 2022 Q1/22 Q2/22 Q3/22 Q4/22 Q1/23 Sales 22,523 25,485 19,717 26,011 61,344 11,898 13,683 18,667 17,096 9,473 Clean CCS Operating Result 4,804 4,573 2,287 4,346 12,198 2,241 3,660 4,230 2,067 2,095 Operating Result 1 5,213 4,245 1
Slide 80: Contact Investor Relations
Contact Investor Relations OMV Petrom Investor Relations Tel: +40 372 161 930 E-mail: investor.relations.petrom@petrom.com Homepage: www.omvpetrom.com Financial calendar 2023 July 28: Q2 2023 results October 31: Q3 2023 results 80 | OMV Petrom Capital Market Story – June 2023