OMV Group Report January–June and Q2 2023
including condensed consolidated interim financial statements as of June 30, 2023
Key Performance Indicators1
Group
- Clean CCS Operating Result lessened to EUR 1,179 mn due to a lower contribution from all business segments
- Clean CCS net income attributable to stockholders of the parent decreased to EUR 472 mn; clean CCS Earnings Per Share were EUR 1.44
- Cash flow from operating activities excluding net working capital effects declined to EUR –375 mn, mainly due to a less favorable market environment and significant tax payments
- Organic free cash flow totaled EUR –595 mn
- Clean CCS ROACE stood at 15%
- Total Recordable Injury Rate (TRIR) was 1.33
Chemicals & Materials
- Polyethylene indicator margin Europe declined to EUR 320/t, polypropylene indicator margin Europe decreased to EUR 372/t
- Polyolefin sales volumes decreased to 1.36 mn t
Fuels & Feedstock
- OMV refining indicator margin Europe decreased to USD 7.6/bbl
- Fuels and other sales volumes Europe were higher at 4.02 mn t
Energy
- Production rose by 8 kboe/d to 353 kboe/d
- Production cost increased by 20% to USD 9.9/boe
Key events
- On July 14: OMV decides to pursue negotiations with ADNOC on a potential cooperation regarding their polyolefins businesses
- On July 5: Borealis completes the sale of its nitrogen business to AGROFERT
- On July 5: OMV secures additional gas transport capacities until 2028
- On June 30: Sale of OMV Slovenia to MOL Group closed
- On June 30: Borealis to acquire Rialti S.p.A., a leading European producer of recycled polypropylene compounds
- On June 28: OMV’s plan for the Berling gas and condensate discovery approved by Norwegian authorities
- On June 21: OMV announces final investment decision taken by OMV Petrom for natural gas deep-water project Neptun Deep
- On June 20: Alfred Stern reappointed as CEO of OMV
- On June 14: OMV and Eavor join forces in geothermal technology
- On April 14: Mark Garrett to resign as OMV Supervisory Board Chairman at 2023 Annual General Meeting
- On April 3: Aker BP and OMV awarded licence for CO2 storage
1 Figures reflect the Q2/23 period; all comparisons described relate to the same quarter in the previous year except where otherwise mentioned.