Slide 1: Q1 2022 Results Conference Call
Q1 2022 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO April 29, 2022 1 | Q1 2022 Conference Call, April 29, 2022 © OMV Group
Slide 2: Disclaimer
Q1 2022 Results conference call Disclaimer This presentation contains forward-looking statements. forward-looking statements may be identified by the use of terms such as “outlook”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “target”, “objective”, “estimate”, “goal”, “may”, “will”, and sim
Slide 3: Macro environment
Macro environment Substantially stronger oil and gas prices, rising refining margins, and healthy chemical margins Oil prices & refining indicator margin Europe Olefin indicator margins Europe 2 USD/bbl EUR/t Ethylene Propylene 120 Average Brent price (left) 10 489 506 100 Average realized crude pri
Slide 4: Key messages
Q1 2022 Results conference call Key messages FINANCIAL STRONG DELIVERING THE PERFORMANCE Q1/22 OPERATIONS Q1/22 STRATEGY Clean CCS Operating Result of Polyolefin sales incl. JVs Start-up of polypropylene unit EUR 2.6 bn (4)% y-o-y (Borstar® PP5) in Borouge 3x y-o-y Refinery utilization rate in New G
Slide 5: Clean CCS Operating Result
Clean CCS Operating Result Strong earnings driven primarily by a substantially higher E&P contribution Clean CCS Operating Result Clean CCS net income attributable to Clean CCS Earnings Per Share EUR mn stockholders EUR EUR mn Chemicals & Materials Refining & Marketing Exploration & Production 2,621
Slide 6: Chemicals & Materials
Chemicals & Materials Strong performance of the nitrogen business and increased realized polyolefin margins Clean Operating Result EUR mn ● Stronger market environment ● Higher European ethylene and propylene indicator margins (+6%, +23%) ● Healthy European PE and PP indicator margins (-20%, +6%) +1
Slide 7: Refining & Marketing
Refining & Marketing Substantially stronger refining margins, partly offset by higher utilities and crude cost and lower retail contribution Clean CCS Operating Result EUR mn +279 357 ● Significantly higher refining indicator margin Europe (USD 9.8/bbl vs. USD 1.7/bbl) 58 ● Operational performance ●
Slide 8: Exploration & Production
Exploration & Production Significantly stronger oil and gas prices partly offset by realized hedging losses and change of consolidation method for Russia Clean Operating Result EUR mn ● Significantly stronger market environment +1,378 ● Average realized crude oil price increased by 64% 1,768 ● Avera
Slide 9: Cash flow from operating activities excluding net working capital effects in Q1/22 doubled
Cash Flow Cash flow from operating activities excluding net working capital effects in Q1/22 doubled Cash flow Q1/22 vs. Q1/21 EUR bn 2021 3.4 2022 ● Increase of ~ EUR 1.6 bn in cash flow from operating activities excluding net working capital effects ● Net working capital effects of EUR (674) mn (3
Slide 10: Strong balance sheet: Leverage ratio comfortably below 30%
Strong balance sheet Leverage ratio comfortably below 30% Leverage ratio Net debt in EUR bn 9.3 End of March 2022 32% OMV cash position 30 6.0 5.2 EUR 6.0 bn 4.7 22% 21% 18% End of March 2022 OMV undrawn committed credit facilities EUR 4.5 bn 2019 2020 2021 Q1/22 Note: Leverage ratio is defined as n
Slide 11: Updated outlook 2022
Q1 2022 Results Updated outlook 2022 2021 2022 Brent oil price (USD/bbl) 71 ~95 (previous ~75) Average realized gas price (EUR/MWh) 16.5 ~45 (previous >25) Europe ethylene indicator margin (EUR/t) 468 Prior-year level Europe propylene indicator margin (EUR/t) 453 Prior-year level Europe polyethylene
Slide 12: Appendix
APPENDIX 12 | Q1 2022 Conference Call, April 29, 2022 © OMV Group
Slide 13: Chemicals & Materials
Chemicals & Materials Weaker market environment more than offset by higher realized polyolefin margins and strong nitrogen business Clean Operating Result EUR mn ● Market environment ● Lower ethylene and propylene indicator margins (-14%, -12%) 73 ● Lower European PE and PP indicator margins (-5%, -
Slide 14: Refining & Marketing
Refining & Marketing Stronger market environment and gas contribution offset by weaker fuel sales volumes and margins Clean CCS Operating Result EUR mn (1) 0% ● Significantly higher refining indicator margin 93 95 ● Refining indicator margin Europe at USD 9.8/bbl (+56%) 358 357 ● Operational perform
Slide 15: Exploration & Production
Exploration & Production Favorable market environment partly offset by lower natural gas sales Clean Operating Result EUR mn +613 1,768 ● Improved market environment 35 72 ● Realized oil price increased by 17% 505 ● Realized gas price increased by 41% 1,155 ● Realized hedging loss of EUR (251) mn in
Slide 16: Strong balance sheet
Balance sheet Strong balance sheet Balance sheet March 31, 2022 vs. December 31, 2021 EUR bn ● Reduction of tangible & intangible assets impacted by deconsolidation of JSC GAZPROM YRGM Development (Russia) and decommissioning provision reassessment due 58.6 58.6 to higher discount rates ● Other-non
Slide 17: Sensitivities of the OMV Group results in 2022
2022 Sensitivities Sensitivities of the OMV Group results in 2022 Annual impact excl. hedging Clean CCS Operating Operating cash flow in EUR mn Result Brent oil price (USD +1/bbl) +55 +25 Realized gas price (EUR +1/MWh) +85 +55 OMV indicator refining margin Europe (USD +1/bbl) +95 +75 Ethylene indic