Slide 1: Q3 2022 Results Conference Call
Q3 2022 Results Conference Call Alfred Stern Chairman of the Executive Board and CEO October 28, 2022 © McDermott International 1 | Q3 2022 Conference Call, October 28, 2022 © OMV Group
Slide 2: Disclaimer
Q3 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 Strong oil and gas prices and strong refining margins, while polyolefin margins dropped from record high levels Oil prices and refining indicator margin Europe Olefin indicator margins Europe3 USD/bbl EUR/t Ethylene Propylene Average Brent price (left) 120 25 Average realized crude
Slide 4: Key messages
Q3 2022 Results conference call Key messages FINANCIAL OPERATIONS DELIVERING THE PERFORMANCE Q3/22 Q3/22 STRATEGY Clean CCS Operating Result of Polyolefin sales incl. JVs Sustainable Aviation Fuels: signed MoU EUR 3.5 bn (12)% y-o-y with Ryanair and Lufthansa Group +96% y-o-y Total fuel sales PV: ex
Slide 5: Clean CCS Earnings
Clean CCS Earnings Continued strong performance primarily driven by high oil and gas prices 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 3,516 Corporate
Slide 6: Chemicals & Materials
Chemicals & Materials Low base chemicals production due to refinery repairs, weaker polyolefin margins, and negative inventory valuation effects Clean Operating Result EUR mn ● Market environment ● Higher European ethylene and propylene indicator margins (+26%, +18%) (409) ● Significantly lower Euro
Slide 7: Chemicals & Materials: specialty polyolefins resilient
Chemicals & Materials Specialty polyolefin margins and volumes in Europe have proven very resilient Polyolefin clean sales margin of Borealis excluding JVs Standard products sales margin in EUR ● Specialty products are supplied to end-industries Specialty products sales margin in EUR such as Energy,
Slide 8: Refining & Marketing
Refining & Marketing Higher Gas & Power East, improved ADNOC Refining and Trading, stronger refining margins, partially offset by a drop in production Clean CCS Operating Result EUR mn +257 ● Significantly higher refining indicator margin Europe (USD 14.4/bbl vs. 4.2/bbl) 600 ● Operational performan
Slide 9: Exploration & Production
Exploration & Production Substantially higher oil and gas prices, partly offset by lower volumes and a significantly weaker Gas West business result Clean Operating Result EUR mn ● Significantly stronger market environment ● Average realized crude oil price increased by 42% +1,852 ● Average realized
Slide 10: Cash Flow
Cash Flow Cash flow from operating activities excluding net working capital effects in 9m/22 increased to EUR 8.6 bn Cash flow 9m/22 vs. 9m/21 EUR bn ● Increase of ~ EUR 3.2 bn in cash flow from operating activities excluding net working capital effects vs. 9m/21 +3.2 9m/21 ● Net working capital eff
Slide 11: Strong balance sheet
Strong balance sheet Leverage ratio fell to 9%, reflecting the strong underlying cash generation Leverage ratio Net debt in EUR bn 9.3 End of Sep 2022 32% OMV cash position1 6.0 5.2 EUR 7.7 bn 4.7 4.6 22% 21% 18% End of Sep 2022 15% 2.7 OMV undrawn committed credit facilities 9% EUR 4.2 bn 2019 2020
Slide 12: Special dividend
Special dividend Proposal of special dividend of EUR 2.25 per share for financial year 2022 Dividend per share EUR To be proposed in Feb 2023 Progressive dividend policy OMV aims to increase dividends every year or at least to maintain the level of 2.30 the respective previous year. 2.30 1.75 1.75 1
Slide 13: Updated outlook 2022
Q3 2022 Results Updated outlook 2022 2021 2022 Brent oil price (USD/bbl) 71 >100 Average realized gas price (EUR/MWh) 16.5 55-60 (previous: ~45) Europe ethylene indicator margin (EUR/t) 468 >468 Europe propylene indicator margin (EUR/t) 453 >453 Europe polyethylene indicator margin (EUR/t)2 582 ~400
Slide 14: Appendix
APPENDIX 14 | Q3 2022 Conference Call, October 28, 2022 © OMV Group
Slide 15: Chemicals & Materials
Chemicals & Materials Lower sales volumes in a weaker market environment, negative inventory effects, and lower Borouge performance Clean Operating Result EUR mn ● Market environment ● Lower ethylene and propylene indicator margins (-7%, -15%) (389) ● Lower European PE and PP indicator margins (-29%
Slide 16: Refining & Marketing
Refining & Marketing Softening refining margins and lower refining contribution due to reduced production Clean CCS Operating Result EUR mn (145) -19% 745 ● Lower refining indicator margin Europe (USD 14.4. vs. 20.5/bbl) 62 ● Operational performance 83 ● Lower refinery utilization rate Europe due to
Slide 17: Exploration & Production
Exploration & Production Favorable market environment and additional liftings in Libya partly offset by negative Gas Marketing Western Europe result Clean Operating Result EUR mn +1,069 ● Improved market environment 2,686 ● Realized oil price decreased by (8)% 73 406 ● Realized gas price increased b
Slide 18: Strong balance sheet
Balance sheet Strong balance sheet Balance sheet September 30, 2022 vs. June 30, 2022 EUR bn ● At-equity accounted investments increased, 63.4 63.4 predominantly driven by a stronger USD 60.6 60.6 ● Strong net income together with positive FX impacts from Stockholders’ equity 21.9 and hybrid capital
Slide 19: 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