OMV (OMV) Q4 2025 (Media) earnings summary

Executive summary

• Achieved a Clean CCS Operating Result of EUR 4.6 billion in 2025, down 10% year-over-year, with Q4 2025 falling 16% to EUR 1,153 mn due to weaker Energy but strong Fuels and Chemicals.

• Cash flow from operating activities reached EUR 5.2 billion, supporting a low leverage ratio of 14%.

• Proposed total dividend of EUR 4.40 per share, including regular and additional dividend.

• Major strategic developments included a binding agreement with ADNOC to combine Borealis and Borouge into Borouge Group International and the acquisition of Nova Chemicals, closing expected Q1 2026.

• Transformation strategy advanced, focusing on resilience, sustainability, and value creation.

Financial highlights

• Full-year 2025 sales revenues from continuing operations declined 7% to EUR 24,308 mn; Q4 2025 sales revenues dropped 8% to EUR 6,045 mn.

• Clean CCS net income for 2025 was EUR 2,649 mn, down 6%; Q4 2025 clean CCS net income was EUR 731 mn, up 4% year-over-year.

• Cash flow from operating activities for 2025 was EUR 5,215 mn.

• Free cash flow after dividends for 2025 was EUR 180 mn, compared to EUR -158 mn in 2024.

• Dividend payout: EUR 1.6 billion (EUR 4.40 per share on 327 million shares).

Outlook and guidance

• 2026 Brent oil price expected at $65/bbl; THE gas price over EUR 30/MWh; refining margin for Europe forecast at $8/bbl.

• Ethylene Indicator Margin in Europe expected at EUR 550/ton; Propylene at EUR 420/ton.

• Organic CAPEX projected at EUR 3.2 bn for 2026 (down from EUR 3.7 bn in 2025).

• Hydrocarbon production expected slightly below 300 kboe/d; steam cracker utilization rate in Chemicals forecast at 90%.

• Profitability under pressure in 2026 due to economic and geopolitical uncertainties.