Omv Ag · VIE:OMV

Omv — OMV Aktiengesellschaft — Q1 2013 Earnings Presentation

23 slides from Omv's earnings presentation, May 14, 2013

  1. Slide 1: Results Q1/13

    Results Q1/13 David C. Davies, Deputy Chairman of the Executive Board and CFO Jaap Huijskes, Executive Board member responsible for E&P May 14, 2013 OMV Aktiengesellschaft 1 | OMV Group, Results Q1/13

  2. Slide 2: Q1/13 Highlights

    Q1/13 Highlights Clean CCS EBIT in EUR mn +6%  Production at 302 kboe/d, 3 kboe/d up vs. 800 851 Q1/12 although lower E&P sales  Average Brent oil price at USD 113/bbl  G&P benefited from new transportation 653 capacities and Brazi power plant 767  Significantly better refining and petrochemical

  3. Slide 3: Economic environment

    Economic environment Oil price and EUR/USD Gas prices in EUR/MWh OMV indicator refining margin in USD/bbl 119 120 113 1.50 35 5.5 110 30 29 5.0 100 30 1.44 4.5 90 25 4.0 80 26 27 3.5 3.01 70 1.38 20 3.0 60 1.32 2.5 50 1.31 15 1.32 11 1.85 11 2.0 40 10 1.5 30 20 1.26 1.0 5 10 0.5 0 1.20 0 0.0 Q1/12 Q

  4. Slide 4: Results in Q1/13

    Results in Q1/13 Clean CCS net income attributable in EUR mn Q1/13 Q1/12  to stockholders in EUR mn 1 EBIT 1,261 912 38% Financial result (58) (10) n.m. Taxes (252) (276) (9)% (8)% 379 Effective tax rate 21% 31% (31)% 349 Net income 951 626 52% Minorities and hybrid capital (165) (175) (6)% owner

  5. Slide 5: Cash flow

    Cash flow Q1/13 in EUR mn Q1/13 Q1/12  in EUR mn Net income 951 626 52% 0 1,414 Depreciation and 478 473 1% 478 amortization (414) 391 951 (650) 659 Other (414) (111) 275% Sources of funds 1,015 989 3% Change in net working 391 301 30% capital Cash flow from 1,405 1,290 9% operating activities Cash

  6. Slide 6: CAPEX and EBITD

    CAPEX and EBITD 2013 Key investments in Q1/13 in EUR mn 1,737  Petrom drilling, workovers and redevelopments  Field developments in Norway (Aasta Hansteen and Edvard Grieg) 946 132 568  EBITD contains EUR 440 mn one-time result impact from completed sale of R&M’s 399 666 Austrian stockholding bus

  7. Slide 7: Special items and CCS effect

    Special items and CCS effect Q1/13 in EUR mn Q1/13 Q1/12 in EUR mn 1,261 Clean CCS EBIT 851 800 6 CCS gains/(losses) (17) 112 440 Clean EBIT 834 912 851 (17) (2) (21) 4 Personnel related costs (2) (1) Unscheduled depreciation (21) 0 Asset disposals 4 (0) Sale of stockholding business 440 0 Other 6 2

  8. Slide 8: Exploration and Production Clean EBIT

    Exploration and Production Clean EBIT in EUR mn Q1/13 vs. Q4/12 Q1/13 vs. Q1/12 767 698 55 24 (150) 653 (143) 653 7 43 15 (10) Q4/12 Realization Volume Exploration Other Q1/13 Q1/12 Realization Volume Exploration Other Q1/13 expenses expenses  No hedging and higher oil price  No hedging offsetting

  9. Slide 9: Exploration and Production Key Performance Indicators

    Exploration and Production Key Performance Indicators Hydrocarbon production (kboe/d) Q1/13 vs. Q4/12 299 305 309 301 302  Production slightly up  More stable environment in Oil 157 164 168 159 163 Yemen and Libya and NGL  Improved contribution from Maari in New Zealand 142 141 141 142 139 Gas 

  10. Slide 10: Exploration and Production Petrom group

    Exploration and Production Petrom group Hydrocarbon production (kboe/d) Q1/13 vs. Q4/12 184 182 182 183 183  Clean EBIT of EUR 323 mn up by 10%, mainly due to 90 89 88 88 89 Oil and NGL  Higher realized oil price and higher gas price following price 94 93 94 95 94 Gas liberalization in Romania  L

  11. Slide 11: Major projects under development

    Major projects under development New ventures Exploration Appraisal Development Execution Production 2P Peak Project Working Project Country Type Operated start reserves production investments interest primary year mn boe kboe/d EUR mn % FRD Romania Oil/Gas 2013-2015 ~70 ~16 400 100.0 2 OP Mehar Gas

  12. Slide 12: Major projects under appraisal

    Major projects under appraisal New ventures Exploration Appraisal Development Execution Production Cumulative Working Project Country Type Operated start production interest primary year mn boe % STOD 1 Oil 2012 2 n/a 50.0 OP Bina Bawi Oil 2013 2 13-20 36.0 OP FRD Austria Oil/Gas 2015 5-9 100.0 OP F

  13. Slide 13: Exploration summary Q1/13

    Exploration summary Q1/13 High impact drilling:  Bianchi-1 appraisal well drilling  Bina Bawi-4 appraisal well drilled; TD~4100m; testing Jorvik Taggart  Bina Bawi-5 appraisal well drilled; TD~3400m; testing Other drilling:  NOR: Jorvik abandoned, dry  PAK: 2 exploration wells drilling Bina Baw

  14. Slide 14: High impact wells in 2013/14

    High impact wells 1 in 2013/14 Exploration and Production New ventures Exploration Appraisal Development Execution Exploration Apollo Spud Working Well Country Basin/Block Type 2 Operated Wisting date interest Bønna Bønna Barents Sea E Q2/13 20% NO n Cambo-5 Wisting Central Barents Sea E Q2/13 25% O

  15. Slide 15: Gas and Power Clean EBIT

    Gas and Power Clean EBIT in EUR mn Q1/13 vs. Q1/12 99 102 5 (14) 4 7 Q1/12 Supply, Gas logistics Power Other Q1/13 marketing and trading  SMT: Lower gas margins; gas sales decreased in Petrom  Gas logistics profited mainly from the expansion of the West-Austria-Gas pipeline  Better result of the

  16. Slide 16: Gas and Power Key Performance Indicators

    Gas and Power Key Performance Indicators Gas sales volumes in TWh Q1/13 vs. Q1/12 136 129 119  Gas sales volumes up by 14% 100 89 due to higher trading  Petrom sales volumes decreased by 5% Q1 /12 Q2 /12 Q3 /12 Q4 /12 Q1 /13  Gazprom renegotiation started EconGas Trading EconGas Sales Petrom Sale

  17. Slide 17: Refining and Marketing Clean CCS EBIT

    Refining and Marketing Clean CCS EBIT in EUR mn Q1/13 vs. Q1/12 112 23 34 85 (30) Q1/12 Fuels Petrochemicals Marketing Q1/13  Higher refining margins due to gasoline and middle distillate spreads  Higher petrochemicals margins  Good Marketing result supported by Petrol Ofisi contribution and cost

  18. Slide 18: Refining and Marketing Key Performance Indicators

    Refining and Marketing Key Performance Indicators Refining utilization rate in % Q1/13 vs. Q1/12 97 94 93 89 89 87 86  Utilization remained on same level 79 76 West East  Marketing sales volumes declined 43  Lower Borealis contribution due to a planned turnaround of Borouge Q1/12 Q2/12 Q3/12 Q4/1

  19. Slide 19: Recent strategic highlights

    Recent strategic highlights  Romania and Austria: Production at 209 kboe/d in Q1/13  Neptun: 630 mcf/d estimated potential gas production (preliminary results)  Final investment decision for Aasta Hansteen gas field Growing  Bina Bawi started production from extended well test upstream  Nabucco

  20. Slide 20: Key financial indicators

    Key financial indicators Gearing ratio in % 31 28 28 26 15 Key financial principles Q1/12 Q2/12 Q3/12 Q4/12 Q1/13  Long-term gearing ratio target of ≤30% Payout ratio and DPS 1 1.20  Maintain a strong investment grade rating 1.00 1.00 1.10  Sustainable dividend policy: Long-term payout 52 32 32 2

  21. Slide 21: Outlook 2013

    Outlook 2013 Market environment  Brent price: Above USD 100/bbl  Gas market: More influenced by hub prices  Romania: Gas price liberalization in implementation  Refining margins: More modest levels than in 2012 Business outlook  CAPEX: Around EUR 2.8 bn before acquisitions; ~70% in E&P  Furthe

  22. Slide 22: Disclaimer

    Disclaimer This document does not constitute a recommendation, an offer or invitation, or solicitation of an offer, to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of any contract, investment decisions or commitment whatsoever.

  23. Slide 23: 23 | OMV Group, Results Q1/13

    23 | OMV Group, Results Q1/13 OV OMV

OMV Aktiengesellschaft — Q1 2013 Earnings Presentation on 6ix