Slide 1: OMV Q3 2022 Results Conference Call
OMV Q3 2022 Results Conference Call October 28, 2022 OMV Aktiengesellschaft Alfred Stern Chairman of the Executive Board and CEO The spoken word applies 1/29 | OMV Group
Slide 2: OMV Q3 2022 Results Conference Call, October 28, 2022 2/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 2/29 | OMV Group
Slide 3: Macro environment – Strong oil and gas prices and strong refining margins
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 3: Macro environment – Strong oil and gas prices and strong refining margins, while polyolefin margins dropped from record high levels Ladies and gentlemen, good morning and thank you for joining us. The market in the third quarter of 2022
Slide 4: OMV Q3 2022 Results Conference Call, October 28, 2022 4/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 4/29 | OMV Group
Slide 5: Key messages
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 4: Key messages The third quarter of 2022 proved to be another exceptional one for OMV, marking an increase in terms of operating result and cash flows, and showcasing the value of a balanced portfolio along the value chain. Our clean CCS O
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OMV Q3 2022 Results Conference Call, October 28, 2022 Page left intentionally blank 6/29 | OMV Group
Slide 7: Geothermal and circular economy initiatives
OMV Q3 2022 Results Conference Call, October 28, 2022 We have also started working toward our target of increasing the production of low-carbon geothermal energy. In Austria, we are conducting a production test to analyze the geothermal potential in the Vienna basin. Water contained in the rock’s po
Slide 8: OMV Q3 2022 Results Conference Call, October 28, 2022 8/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 8/29 | OMV Group
Slide 9: Clean CCS Operating Result – Continued strong performance
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 5: Clean CCS Operating Result – Continued strong performance driven primarily by high oil and gas prices Let’s now turn to our financial performance in the third quarter of this year. Our clean CCS Operating Result rose sharply to 3.5 billi
Slide 10: OMV Q3 2022 Results Conference Call, October 28, 2022 10/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 10/29 | OMV Group
Slide 11: Chemicals & Materials – Low base chemicals production, weaker polyolefin margins
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 6: Chemicals & Materials – Low base chemicals production due to refinery repairs, weaker polyolefin margins, and negative inventory valuation effects Let’s now discuss the performance of our business segments. The clean Operating Result of
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OMV Q3 2022 Results Conference Call, October 28, 2022 Page left intentionally blank 12/29 | OMV Group
Slide 13: Polyolefin sales volumes and JV contribution
OMV Q3 2022 Results Conference Call, October 28, 2022 The total polyolefin sales volumes excluding JVs were down 17 percent, affected by significantly lower demand in Europe, the “wait-and-see approach” of customers, and the reduced feedstock availability in Schwechat. The decline was seen mainly in
Slide 14: OMV Q3 2022 Results Conference Call, October 28, 2022 14/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 14/29 | OMV Group
Slide 15: Chemicals & Materials – Specialty polyolefin margins and volumes resilient
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 7: Chemicals & Materials – Specialty polyolefin margins and volumes in Europe have proven very resilient The performance of the Chemicals & Materials segment saw a significant decline, as explained, driven by a weaker base chemicals busines
Slide 16: OMV Q3 2022 Results Conference Call, October 28, 2022 16/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 16/29 | OMV Group
Slide 17: Refining & Marketing – Higher Gas & Power East, improved ADNOC Refining and Trading
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 8: Refining & Marketing – Higher Gas & Power East, improved ADNOC Refining and Trading, stronger refining margins, partially offset by a drop in production Despite reduced production in the Western refineries, the clean CCS Operating Result
Slide 18: OMV Q3 2022 Results Conference Call, October 28, 2022 18/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 18/29 | OMV Group
Slide 19: Exploration & Production – Substantially higher oil and gas prices
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 9: Exploration & Production – Substantially higher oil and gas prices, partly offset by lower volumes and a significantly weaker Gas West business result The clean Operating Result of Exploration & Production more than tripled compared to t
Slide 20: OMV Q3 2022 Results Conference Call, October 28, 2022 20/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 20/29 | OMV Group
Slide 21: Cash flow from operating activities excluding net working capital effects
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 10: Cash flow from operating activities excluding net working capital effects in 9m/22 increased to EUR 8.6 bn Turning to cash flow, our third-quarter operating cash flow – excluding net working capital effects – amounted to 2.9 billion eur
Slide 22: OMV Q3 2022 Results Conference Call, October 28, 2022 22/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 22/29 | OMV Group
Slide 23: Strong balance sheet – Leverage ratio fell to 9%
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 11: Strong balance sheet – Leverage ratio fell to 9%, reflecting the strong underlying cash generation Moving on to the balance sheet, following an exceptional cash flow in the third quarter, we were able to reduce net debt by around 2 bill
Slide 24: OMV Q3 2022 Results Conference Call, October 28, 2022 24/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 24/29 | OMV Group
Slide 25: Proposal of special dividend of EUR 2.25 per share for financial year 2022
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 12: Proposal of special dividend of EUR 2.25 per share for financial year 2022 Ladies and gentlemen, as announced yesterday the Executive Board has decided that a special dividend in the amount of 2 euros and 25 cents per share will be prop
Slide 26: OMV Q3 2022 Results Conference Call, October 28, 2022 26/29 | OMV Group
OMV Q3 2022 Results Conference Call, October 28, 2022 26/29 | OMV Group
Slide 27: Updated outlook 2022
OMV Q3 2022 Results Conference Call, October 28, 2022 Slide 13: Updated outlook 2022 Let me conclude with an update of our outlook for this year. As usual, we will present our outlook for next year with our fourth quarter earnings in February. Based on the developments we have seen in recent months,
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Slide 29: Outlook: E&P production guidance and refining expectations
OMV Q3 2022 Results Conference Call, October 28, 2022 Due to the re-tendering of a major part of the remaining work, we expect the total investments of the project to be above the original budget. How big the increase will be can only be estimated once the re-tendering is complete. However, please n