Omv Ag · VIE:OMV

Omv — OMV Aktiengesellschaft — Q1 2020 Earnings Presentation

17 slides from Omv's earnings presentation, Apr 29, 2020

  1. Slide 1: Q1 2020 Results Conference Call

    Q1 2020 Results Conference Call Rainer Seele Chairman of the Executive Board and CEO April 29, 2020 OMV Aktiengesellschaft

  2. Slide 2: Disclaimer

    Disclaimer This report contains forward-looking statements. Forward-looking statements may be identified by the use of terms such as “outlook,” “expect,” “anticipate,” “target,” “estimate,” “goal,” “plan,” “intend,” “may,” “objective,” “will”, and similar terms or by their context. These forward-loo

  3. Slide 3: Macro environment – Brent and gas prices down, improved

    Macro environment – Brent and gas prices down, improved Downstream market environment Oil prices USD/bbl OMV indicator refining margin USD/bbl 69 70 63 62 63 6 5.5 5.0 4.9 60 66 50 5 61 4.0 50 60 59 4 3.2 40 47 3 30 Average Brent price 20 2 Average realized crude price 10 1 0 0 Q1/19 Q2/19 Q3/19 Q4/

  4. Slide 4: Key messages

    Key messages FINANCIAL STRONG DELIVERING THE PERFORMANCE OPERATIONS STRATEGY Resilient Clean CCS Operating Quarterly production of Signed agreement for acquisition Result of EUR 699 (-8% y-o-y) 472 kboe/d of additional 39% in Borealis supported by strong Downstream Production cost Initiated divestme

  5. Slide 5: Clean CCS Operating Result impacted by weaker market in Upstream, partially compensated by strong Downstream

    Clean CCS Operating Result impacted by weaker market in Upstream, partially compensated by strong Downstream Clean CCS Operating Result Clean CCS Net Income attributable Clean CCS Earnings Per Share EUR mn to stockholders EUR Upstream Corporate & Other, Consolidation EUR mn Downstream 781 759 1.06 6

  6. Slide 6: Upstream – Weaker oil and gas market environment and increased exploration expenses

    Upstream – Weaker oil and gas market environment and increased exploration expenses, partially offset by higher sales Clean Operating Result Q1/20 vs. Q1/19 EUR mn  Weaker market environment  Average realized oil price decreased by 22% (256) -65%  Average realized gas price decreased by 19% 393 

  7. Slide 7: Downstream – Stronger market environment and solid operational performance

    Downstream – Stronger market environment and solid operational performance, supported by positive hedging impact Clean CCS Operating Result Q1/20 vs. Q1/19 EUR mn  Stronger market environment +127  Refining indicator margin at USD 4.9/bbl (+22%)  Ethylene/propylene net margins at EUR 459/t (+2%)

  8. Slide 8: Cash generation from operating activities of EUR 0.8 bn, excluding positive net working capital effects

    Cash generation from operating activities of EUR 0.8 bn, excluding positive net working capital effects Organic cash flow 3m/20 EUR bn 1.2 Cash flows 3m/20 vs. 3m/19  Decrease of cash flow from operations excl. net working capital change by EUR (358) mn 0.8  Borealis dividends of EUR 108 mn (3m/19

  9. Slide 9: Healthy balance sheet

    Healthy balance sheet Net debt excluding leases, Gearing ratio excluding leases EUR bn, % 26% End of March 2020 In April 2020 issued senior OMV cash-position bonds, in particular for financing 22% the Borealis deal 1 19% EUR 2.8 bn EUR 1.75 bn 19% End of March 2020 OMV Remaining OMV undrawn committe

  10. Slide 10: Divestment program well underway

    Divestment program well underway Gas Connect Austria  Ownership: OMV 51%, AS Gasinfrastruktur 49% (thereof, Allianz Group 60% and Snam 40%)  Central hub in the European natural gas network  Status: due diligence in progress OMV retail network in Germany  287 retail stations OMV branded in German

  11. Slide 11: Updated outlook 2020

    Updated outlook 2020 2019 Outlook 2020 Brent oil price (USD/bbl) 64 40 (previously 60) Average realized gas price (EUR/MWh) 11.9 ~ 10 (previously <11.9) 440-470 1 Total hydrocarbon production (kboe/d) 487 (previously ~500) OMV European indicator refining margin (USD/bbl) 4.4 ~ 4.0 (previously >5.0)

  12. Slide 12: BACKUP

    BACKUP OMV Aktiengesellschaft

  13. Slide 13: Upstream – Weaker market environment, lower sales volumes and higher exploration expenses

    Upstream – Weaker market environment, lower sales volumes and higher exploration expenses Clean Operating Result Q1/20 vs. Q4/19 EUR mn  Weaker market environment (323)  Realized oil price decreased by 23% 459  Realized gas price decreased by 2%  Production of 472 kboe/d (-33 kboe/d)  Malaysia

  14. Slide 14: Downstream – Higher earnings supported by strong petrochemical margins and hedging impact

    Downstream – Higher earnings supported by strong petrochemical margins and hedging impact Clean CCS Operating Result Q1/20 vs. Q4/19 EUR mn  Stronger market environment +116  Stable refining margin at USD 4.9/bbl (-2%) 501  Higher ethylene/propylene net margins (+26%) 21 87 47  Operational perfo

  15. Slide 15: Operational KPIs

    Operational KPIs Hydrocarbon production Refined product sales Retail sales kboe/d mn t mn t 505 5.17 1.64 474 472 4.79 4.60 1.45 1.44 Q1/19 Q4/19 Q1/20 Q1/19 Q4/19 Q1/20 Q1/19 Q4/19 Q1/20 Hydrocarbon sales Refinery utilization rate Natural gas sales kboe/d % TWh 477 98 98 94 48.0 427 446 44.7 38.1 2

  16. Slide 16: Strong balance sheet

    Strong balance sheet Balance sheet Mar. 31, 2020 vs. Dec. 31, 2019 EUR bn 42.3 42.3 40.4 40.4 Stockholders’ equity 12.9 13.0  Reclassification of Gas Connect Group to “held Tangible & 19.2 for sale” in Q1/20 20.6 intangible assets Non-controlling interests 3.9 3.9 Trade payables 3.5  Other assets

  17. Slide 17: OMV Aktiengesellschaft

    OV OMV OMV Aktiengesellschaft ouv OMV

OMV Aktiengesellschaft — Q1 2020 Earnings Presentation on 6ix