OMV (OMV) Q3 2026 TU earnings summary

Executive summary

• Q3/26 indicators showed higher refining margins and gas prices, while hydrocarbon sales volumes and chemicals market indicators weakened QoQ.

• Expected Q3 effects include a EUR 100 mn clean Operating Result headwind from lifting schedules and EUR 150–200 mn of special items reducing reported net income.

Financial highlights

• Lifting schedules are expected to reduce clean Operating Result by EUR 100 mn in Q3/26; the impact reflects lower hydrocarbon sales volumes versus Q2/26.

• Q3/26 cash flow from operating activities includes around EUR 460 mn of Borouge International dividends; BEHG certificate purchases are expected to cause around EUR 200 mn of cash outflow.

• Net working capital is expected to have a small negative cash impact in Q3/26.

Outlook and guidance

• Q3/26 clean Operating Result for Chemicals is expected to be materially lower QoQ, primarily due to a substantially weaker Borouge International market across all regions.

• ADNOC Refining and ADNOC Global Trading contributions to clean CCS net income are expected to increase substantially QoQ, driven mainly by higher refinery utilization and strong refining margins.

• Retail and commercial margins are expected to be significantly lower QoQ in Q3/26.