OMV (OMV) investor relations material

Executive summary

• Clean CCS Operating Result rose 20% year-over-year to EUR 1,262 million, driven by strong Fuels and Chemicals, while Energy performance lagged due to divestments and lower oil prices.

• Clean CCS EPS increased to EUR 1.82, with net income attributable to stockholders up 72% to EUR 594 million.

• Cash flow from operating activities was EUR 1.1 billion, down 23% year-over-year, impacted by working capital swings.

• Hydrocarbon production declined 8% year-over-year, mainly from Malaysian and SapuraOMV divestments; fuels sales volumes were stable or slightly up.

• Major strategic moves included the divestment of SapuraOMV, a new polyolefins JV with ADNOC, and a positive litigation outcome in Romania.

Financial highlights

• Clean CCS Operating Result: EUR 1,262 million (+20% YoY); Clean CCS net income: EUR 803 million (+49% YoY).

• Clean CCS EPS: EUR 1.82, supported by strong refining and E&P.

• Cash flow from operating activities: EUR 1.1 billion, down 23% YoY; organic free cash flow before dividends for nine months: 5% lower YoY.

• Leverage ratio at 16%; cash position EUR 4.6 billion at quarter-end.

• Total capital expenditure: EUR 898 million (down from EUR 1,149 million YoY).

Outlook and guidance

• Brent oil price assumption for 2025 at USD 70/bbl; realized gas price EUR 30–40/MWh.

• Full-year refining margin outlook upgraded to above USD 9/bbl; Q4 margins started above USD 12/bbl.

• E&P production for 2025 expected slightly above 300,000 BOE/d; refinery utilization rate 85–91%.

• Polyolefin sales at Borealis projected to rise to 4.1 million tons in 2025, but not as strongly as previously anticipated.

• Organic CAPEX for FY 2025 guided at EUR 3.6 billion; Borouge Group International deal expected to close in Q1 next year.