Slide 1: Q4 2021 Results Conference Call
Q4 2021 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO February 3, 2022 OMV Aktiengesellschaft
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
Slide 3: Macro environment – strong prices and margins across all commodities
Macro environment – strong prices and margins across all commodities Oil prices & refining indicator margin Europe Olefin indicator margins Europe 2 USD/bbl Average Brent price EUR/t Average realized crude price 80 7 700 OMV refining indicator margin Ethylene Propylene 77 6 60 70 600 60 6.3 5 480 48
Slide 4: Key messages
Key messages FINANCIAL STRONG DELIVERING THE PERFORMANCE Q4/21 OPERATIONS Q4/21 STRATEGY Clean CCS Operating Result of Quarterly production of Closed divestment of 25% share in EUR 2.0 bn 491 kboe/d Wisting oil field, Norway 3.8x y-o-y Production cost Listed in Dow Jones Sustainability at USD 6.4/bo
Slide 5: Clean CCS Operating Result – strong market environment and improved operational performance
Clean CCS Operating Result – strong market environment and improved operational performance 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 & Marketing Chemicals & Material
Slide 6: Exploration & Production – considerably higher realized oil and gas prices as well as increased sales volumes
Exploration & Production – considerably higher realized oil and gas prices as well as increased sales volumes Clean Operating Result Q4/21 vs. Q4/20 EUR mn Significantly stronger market environment Average realized crude oil price increased by 85% +979 Average realized natural gas price increa
Slide 7: Refining & Marketing – stronger refining margins, higher sales volumes, and improved ADNOC Refining & Trading result
Refining & Marketing – stronger refining margins, higher sales volumes, and improved ADNOC Refining & Trading result Clean CCS Operating Result EUR mn Q4/21 vs. Q4/20 +190 Stronger market environment 351 Significantly higher refining indicator margin Europe (USD 6.3/bbl vs. USD 1.7/bbl) 60 Ope
Slide 8: Chemicals & Materials – strong performance, underpinned by attractive market environment
Chemicals & Materials – strong performance, underpinned by attractive market environment Clean Operating Result Q4/21 vs. Q4/20 EUR mn Significantly stronger market environment Higher European ethylene and propylene indicator margins +303 (+26%, +49%) Strong European PE and PP indicator margin
Slide 9: Record cash flow from operating activities excluding net working capital effects in 2021
Record cash flow from operating activities excluding net working capital effects in 2021 Cash flow 12m/21 vs. 12m/20 EUR bn Increase of EUR 6.1 bn in cash flow from operating activities excluding net working capital effects 8.9 Dividends from Borouge in Q4/21 of EUR 1.4 bn, thereof EUR 1.3 bn 20
Slide 10: Original target of EUR >2.0 bn for the divestment program will be clearly exceeded
Original target of EUR 2 bn for the divestment program will be clearly exceeded SIGNED CLOSED OMV retail network in Germany Net debt reduction of ~ EUR 500 mn 51% share in Gas Connect Closing expected in H1 2022 2021 Austria OMV operations in Slovenia Net debt reduction of ~ EUR 290 mn
Slide 11: Healthy balance sheet
Healthy balance sheet Gearing ratio excluding leases Net debt excluding leases in EUR bn 8.1 7.9 End of December 2021 41% 7.1 OMV cash position 6.2 37% 34% 4.8 EUR 5.0 bn 28% 3.6 22% 22% End of December 2021 OMV undrawn committed credit facilities EUR 4.3 bn 2019 2020 Q1/21 Q2/21 Q3/21 Q4/21 Leverag
Slide 12: Clear commitment to our progressive dividend policy
Clear commitment to our progressive dividend policy Dividend of EUR 2.30 per share proposed, up 24% vs. prior year Dividend Per Share EUR 2.30 CAGR +15% Record dividend per share of EUR 2.30 1.85 proposed (+24% vs. 2020) 1.75 1.75 1.50 We are committed to delivering an attractive 1.20 shareholde
Slide 13: Significant Borealis synergies achieved in the first year
Significant Borealis synergies achieved in the first year ≥800 EUR mn by year-end 2025 Operational cost savings >200 150-200 150-200 150-200 150-200 Combined purchasing Debottlenecking Value chain optimization 2021 Actual 2022 2023 2024 2025 Tax benefits 13 | OMV Group, Q4 2021 Conference Call, Febr
Slide 14: 40% of organic Capex allocated to chemical, circular economy, and low-carbon projects in 2022
40% of organic Capex allocated to chemical, circular economy, and low-carbon projects in 2022 Organic CAPEX EUR bn Main projects in 2022 3.5 EUR 3.5 bn, thereof ~EUR 0.6 bn non-cash leases 2.7 2.6 1.3 C&M 0.5 2.4 Construction of PDH plant at Kallo, Belgium 0.5 0.8 Re-Oil® demo plant at Schwe
Slide 15: Outlook 2022
Outlook 2022 2021 2022 Brent oil price (USD/bbl) 71 ~75 Average realized gas price (EUR/MWh) 16.5 >25 Total hydrocarbon production (kboe/d) 486 470 OMV indicator refining margin Europe (USD/bbl) 3.7 ~4.5 Utilization rate European refineries (%) 88 Prior-year level Europe ethylene indicator margin (E
Slide 16: Appendix
APPENDIX OMV Aktiengesellschaft
Slide 17: Exploration & Production – favorable market environment partly offset by lower oil sales, hedging losses, and higher E&A expenses
Exploration & Production – favorable market environment partly offset by lower oil sales, hedging losses, and higher E&A expenses Clean Operating Result EUR mn Q4/21 vs. Q3/21 Improved market environment +347 Realized oil price increased by 11% 97 1.163 Realized gas price increased by 72% 44
Slide 18: Refining & Marketing – stronger market environment offset by weaker sales volumes following lockdowns
Refining & Marketing – stronger market environment offset by weaker sales volumes following lockdowns Clean CCS Operating Result EUR mn Q4/21 vs. Q3/21 (10) -3% Significantly higher refining indicator margin 54 64 Refining indicator margin Europe at USD 6.3/bbl (+41%) 361 351 Gas 41 Operationa
Slide 19: Chemicals & Materials – weaker polyolefin market environment slightly offset by higher inventory valuation effects
Chemicals & Materials – weaker polyolefin market environment slightly offset by higher inventory valuation effects Clean Operating Result EUR mn Q4/21 vs. Q3/21 Market environment (111) Higher ethylene and propylene indicator margins (+2%, +4%) 623 Lower European PE and PP indicator margins (–
Slide 20: Strong balance sheet
Strong balance sheet Balance sheet December 31, 2021 vs. September 30, 2021 EUR bn 55.0 55.0 53.8 53.8 Other non-current assets impacted by decrease of EUR 1.9 bn related to at-equity Stockholders’ equity 15.5 Tangible & and hybrid capital 15.5 accounted investments, mainly due to: 21.7 intangible
Slide 21: Sensitivities of the OMV Group results in 2022
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) +145 +95 OMV indicator refining margin Europe (USD +1/bbl) +95 +75 Ethylene indicator margin Europe
Slide 22: OMV Aktiengesellschaft
Ov OMV OMV Aktiengesellschaft ouv OMV