PETB.L Regulatory News (PETB)

OMV Petrom S.A.

OMV Petrom Group results for January - September and Q3 2022

including interim unaudited condensed consolidated financial statements as of and for the period ended September 30, 2022

Highlights Q3/22 vs Q3/21

Group

u Clean CCS Operating Result at RON 4.2 bn, 3.2 times higher in the context of unprecedentedly high and volatile commodity prices driven by the geopolitical context

u Clean CCS net income attributable to stockholders of the parent at RON 3.6 bn, up 3.7 times

u Direct taxes increased to RON 2.7 bn, 5 times higher, mainly driven by gas and power taxation

u Cash flow from operating activities at RON 3.2 bn, 38% higher

u CAPEX at RON 0.9 bn, up 45%

u Free cash flow after dividends outflow at RON 0.1 bn reflecting RON 2.5 bn special dividend payment vs. inflow of RON 1.8 bn in Q3/21

u Clean CCS ROACE at 36.7%, 27 pp higher

u TRIR: 0.50 (Q3/21: 0.54)

Exploration and Production

u Clean Operating Result at RON 1,362 mn vs. RON 442 mn in Q3/21, mainly due to higher oil and gas prices as well as stronger USD

u Production decreased by 4.6% mainly due to natural decline and divestments, partly compensated by the higher contribution from new wells

u Production cost increased by 7% to USD 14.1/boe mainly driven by higher energy and personnel costs and lower production available for sale, partly offset by favorable FX

Refining and Marketing

u Clean CCS Operating Result at RON 1,334 mn, up 71%, mainly reflecting favorable refining margins

u OMV Petrom indicator refining margin at USD 17.1/bbl, up 138% on higher product spreads, mainly for diesel, jet and gasoline

u Refinery utilization rate at 99% compared to 100% in Q3/21

u Retail sales volumes 1% lower

Gas and Power

u Clean Operating Result at RON 1,267 mn vs. RON 95 mn in Q3/21; very strong gas business result mainly from gas transactions outside Romania, as well as very good power business result

u Gas sales volumes down 11% in the context of 17% lower overall market demand

u Net electrical output at 1.4 TWh, record high for a Q3, supported by market context and high Brazi power plant availability

Key events

u OMV Petrom took over operatorship of Neptun Deep on August 1

u OMV Petrom and Complexul Energetic Oltenia to invest in photovoltaic electricity production

u OMV Petrom has installed photovoltaic panels in 110 OMV and Petrom filling stations in Romania and aims to reach 150 units by the end of 2022

u OMV Petrom announced the approval by the Romanian Financial Supervisory Authority and publication of the simplified prospectus for the issuance of new shares in the context of the share capital increase. The offering finalized on October 13, with a subscription rate of 96%. 

Please access the link here below to view the full report.

http://www.rns-pdf.londonstockexchange.com/rns/4667E_1-2022-10-28.pdf