Slide 1: OMV Petrom Q2/24 Results
OMV Petrom Q2/24 Results Christina Verchere, CEO July 31, 2024
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation does not, and is not intended to, constitute or form part of, and should not be construed as, constituting or forming part of, any actual offer to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares issued by the Company or any
Slide 3: Commodity prices: Volatile market environment
Commodity prices Volatile market environment Oil prices FX OMV Petrom indicator refining margin USD/bbl RON/USD, RON/EUR USD/bbl 4.9 4.9 5.0 5.0 5.0 16.8 4.5 4.5 4.6 4.6 4.6 12.6 11.2 10.8 9.7 78 87 84 83 85 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Avg USD/RON Avg EUR/RON Avg Bren
Slide 4: Mixed demand for our products
Romanian environment Mixed demand for our products GDP 2.1% 2.2% 2.8% Growth expected 20231 Q1/241 2024e2 Inflation 6.6% 4.9% 4.9% (CPI) On a downward Dec 23/Dec 22 Jun 24/Jun 233 2024e3 trend Romania maintained at investment grade by major rating agencies4 Demand Q2/24 yoy 6m/24 yoy 2023 yoy Fuels5
Slide 5: First steps towards deregulation of gas and power sector
Romanian regulatory framework First steps towards deregulation of gas and power sector New regulations applicable in Q2/24 Highly regulated gas sales portfolio GEO 32/2024 amends GEO 27/2022 Q2/24 Q1/24 15% Applicability: starting April 2024 14% Main provisions: 71% 61% 14% Gas: reduced the ga
Slide 6: Continued to deliver on our Strategy 2030
Key messages Q2/24 Continued to deliver on our Strategy 2030 Good financial performance Clean CCS Operating result Operating Cash Flow Clean CCS ROACE -15% yoy +156% yoy -7.8 pp yoy RON 1.4 bn RON 1.1 bn 23.5% Operational performance Strategic focus Hydrocarbon production -3% yoy, good Neptun De
Slide 7: Resilient performance
Operational performance Resilient performance Exploration and Production Refining and Marketing Gas and Power Hydrocarbon production Refinery utilization rate Gas sales volumes kboe/d % TWh -3% -3% +67 pp -18% 114 113 110 112 110 95 95 93 98 11.7 12.5 12.6 55 54 54 54 53 9.5 7.8 31 59 59 56 58 58 Q2
Slide 8: Entered the most investment intensive period in our history
CAPEX Entered the most investment intensive period in our history Group CAPEX1 RON bn per business segment <8 <8 6m/24 2024E RON 2.4 bn: RON < 8 bn: Neptun Deep project Neptun Deep project 4.7 14 new wells and sidetracks; ~270 Wells and sidetracks: ~40; up to 500 workovers workovers 3.6
Slide 9: OMV Petrom Q2/24 Results - Alina Popa, CFO
OMV Petrom Q2/24 Results Alina Popa, CFO July 31, 2024
Slide 10: Robust results
Income Statement Robust results Clean CCS Operating Result RON bn -15% -15% 1.6 3.7 Q2/24 Clean CCS Operating Result reflects: 1.4 3.1 0.5 1.2 0.1 0.7 0.4 ► Lower refining margin, but higher sales channels’ margins 0.8 1.2 1.2 0.8 2.1 ► Lower gas and power margins 1.6 -0.2 -0.1 -0.1 -0.4 0.0 ► Hig
Slide 11: Solid Operating Results
Clean CCS Operating Result Solid Operating Results E&P RON mn Lower E&P taxation 1,152 -54 Realized crude price +11% -275 823 Lower realized gas price Hydrocarbon sales -3% Higher depreciation and exploration costs Q2/23 Market effects1 Operational effects Q2/24 R&M and G&P RON mn Refine
Slide 12: Strong cash generation
Cash flow Strong cash generation Cash Flow from Operating Activities RON bn +156% -20% 5.1 1.1 4.0 0.4 Q2/24 Cash Flow from Operating Activities: 1.9 4.3 1.4 4.8 ► Higher cash generated from operating activities before NWC 0.5 0.4 2.2 movements -1.5 -1.2 0.5 -1.5 -1.2 Q2/23 Q2/24 6m/23 6m/24 ► Pos
Slide 13: Outlook 2024-2026
Outlook 2024-2026 Indicators Actual Assumptions/ Targets Assumptions/ Targets 6m/2024 2024 2025-2026 averages Brent oil price USD 84/bbl USD ~85/bbl USD ~80/bbl Production 1 111 kboe/d >106 kboe/d ~100 kboe/d Refining margin USD 11/bbl USD ~10/bbl USD ~10/bbl CAPEX RON 2.4 bn up to RON 8 bn RON >8.5
Slide 14: Q&A
Q&A July 31, 2024
Slide 15: Back-up
Back-up July 31, 2024
Slide 16: EBIT impact in 2024
Sensitivities EBIT impact in 2024 2024 sensitivities Change EBIT impact Brent oil price USD +1/bbl ~EUR +15 mn OMV Petrom indicator refining margin USD +1/bbl ~EUR +30 mn Exchange rates EUR/USD USD appreciation by 5 USD cents ~EUR +50 mn 16 OMV Petrom Q2/24 Results
Slide 17: @ OMV Petrom
@ OMV Petrom