Omv Ag · VIE:OMV

Omv — OMV Aktiengesellschaft — Q1 2021 Earnings Presentation

19 slides from Omv's earnings presentation, Apr 29, 2021

  1. Slide 1: Q1 2021 Results Conference Call

    Q1 2021 Results Conference Call Rainer Seele Chairman of the Executive Board and CEO April 29, 2021 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 – improved crude oil and gas prices, record high polyolefin margins

    Macro environment – improved crude oil and gas prices, record high polyolefin margins Oil prices & Refining Indicator Margin Olefin indicator margins Europe 2 USD/bbl EUR/t Average Brent price Average realized crude price 70 4.9 5 700 OMV Refining Indicator Margin Ethylene Propylene 60 4 600 50 55 5

  4. Slide 4: Key messages

    Key messages FINANCIAL STRONG DELIVERING THE PERFORMANCE OPERATIONS STRATEGY Clean CCS Operating Result of Quarterly production of FID for expansion of steam cracker in EUR 870 mn, 495 kboe/d Burghausen thereof Chemicals & Materials 51% Production cost Operational start of a demo plant for + 24% y-o

  5. Slide 5: Clean CCS Operating Result – higher realized oil prices, record high polyolefin margins, and full consolidation of Borealis

    Clean CCS Operating Result – higher realized oil prices, record high polyolefin margins, and full consolidation of Borealis Clean CCS Operating Result Clean CCS net income attributable Clean CCS Earnings Per Share EUR mn to stockholders EUR Exploration & Production Corporate & Other EUR mn Refining

  6. Slide 6: Exploration & Production – higher realized oil prices and sales volumes

    Exploration & Production – higher realized oil prices and sales volumes Clean Operating Result Q1/21 vs. Q1/20 EUR mn  Stronger market environment  Average realized oil price increased by 18% +224 +164%  Average realized gas price declined by 6% 361 17  Realized hedging loss  Negative FX impact

  7. Slide 7: Refining & Marketing – weaker market environment and significantly lower sales volumes due to persistent Covid-19 effects

    Refining & Marketing – weaker market environment and significantly lower sales volumes due to persistent Covid-19 effects Clean CCS Operating Result EUR mn Q1/21 vs. Q1/20 (259) -71% 367  Weaker market environment  Significantly lower refining indicator margin Europe (-66%) Gas 92 83  Operational

  8. Slide 8: Chemicals & Materials – record high polyolefin margins, stronger sales and full consolidation of Borealis

    Chemicals & Materials – record high polyolefin margins, stronger sales and full consolidation of Borealis Clean Operating Result Q1/21 vs. Q1/20 EUR mn  Stronger market environment  Lower ethylene and propylene indicator margins (–21%; –11%) +309  Record high Europe PE and PP indicator margins (+

  9. Slide 9: Cash flow from operating activities excluding net working capital effects more than doubled to EUR 1.7 bn in Q1/21

    Cash flow from operating activities excluding net working capital effects more than doubled to EUR 1.7 bn in Q1/21 Cash flow Q1/21 vs. Q1/20 EUR bn 1.7  Increase of EUR 0.9 bn in cash flow from operating activities excluding net working capital effects  Net working capital effects of EUR (646) mn

  10. Slide 10: Deleveraging well on track

    Deleveraging well on track Gearing ratio excluding leases 8.1 7.9 Gearing ratio excluding leases considering divestments signed Signed Net debt excluding leases in EUR bn divestments End of March 2021 41% OMV cash position 1 37% 3.6 3.4 35% 32% EUR 3.5 bn 3.2 22% End of March 2021 OMV 19% 21% 1.8 un

  11. Slide 11: Update on the EUR 2 bn divestment program

    Update on the EUR 2 bn divestment program Signed divestments Ongoing divestments 51% share in Gas Connect Austria Borealis NITRO business1  Closing expected in Q2/21  Fertilizer, technical nitrogen, and the  Net debt reduction of EUR 570 mn melamine products  Leading European player OMV retail n

  12. Slide 12: Updated outlook 2021

    Updated outlook 2021 2020 Updated outlook 2021 Brent oil price (USD/bbl) 42 60–65 (previously 50–55) Average realized gas price (EUR/MWh) 8.9 >11 (previously >10) Total hydrocarbon production (kboe/d) 463 ~ 480 OMV indicator refining margin Europe (USD/bbl) 2.4 >2.4 Utilization rate European refiner

  13. Slide 13: BACKUP

    BACKUP OMV Aktiengesellschaft

  14. Slide 14: Exploration & Production – improved crude oil and gas prices

    Exploration & Production – improved crude oil and gas prices Clean Operating Result Q1/21 vs. Q4/20 EUR mn  Improved market environment  Realized oil price increased by 33% +177  Realized gas price increased by 12%  Realized hedging loss 18 21 361  Production of 495 kboe/d (+23 kboe/d)  Libya

  15. Slide 15: Refining & Marketing – lower margin hedges and decreased sales volumes and margins

    Refining & Marketing – lower margin hedges and decreased sales volumes and margins Clean CCS Operating Result EUR mn Q1/21 vs. Q4/20 (53) -33% 161  Flat weak market environment 0  Refining indicator margin Europe at USD 1.7/bbl 53  Operational performance Gas 79  Stable refinery utilization rate

  16. Slide 16: Chemicals & Materials – stronger polyolefin market environment and full consolidation of Borealis

    Chemicals & Materials – stronger polyolefin market environment and full consolidation of Borealis Clean Operating Result Q1/21 vs. Q4/20 EUR mn  Stronger market environment +234  Slightly higher ethylene and propylene indicator margins (+2%; +6%) 442  Record high Europe PE and PP indicator margin

  17. Slide 17: Strong balance sheet

    Strong balance sheet Balance sheet March 31, 2021, vs. December 31, 2020 EUR bn 51.9 51.9 49.3 49.3 Stockholders’ equity and hybrid capital 14.9 13.7 21.7 Tangible & 22.6  Balance sheet items impacted by held-for-sale intangible assets classification of NITRO business (Borealis) and Non-controlling

  18. Slide 18: Sensitivities of the OMV Group results in 2021

    Sensitivities of the OMV Group results in 2021 Annual impact excl. hedging Clean CCS Operating Result Operating cash flow in EUR mn Brent oil price (USD +1/bbl) +60 +25 Realized gas price (EUR +1/MWh) 1 +150 +100 OMV indicator refining margin Europe (USD +1/bbl) +110 +85 Ethylene/propylene indicator

  19. Slide 19: OMV Aktiengesellschaft

    OV OMV OMV Aktiengesellschaft ouv OMV

OMV Aktiengesellschaft — Q1 2021 Earnings Presentation on 6ix