3 Feb 2022 07:01
OMV Petrom S.A.
February 3, 2022
OMV Petrom Group results for January - December and Q4 2021
including preliminary unaudited condensed consolidated financial statements as of and for the period ended December 31, 2021
Highlights Q4/21 vs Q4/20
Group
u In Romania demand for our products broadly recovered to pre-COVID levels
u Clean CCS Operating Result at RON 1.5 bn, 222% higher
u Clean CCS net income attributable to stockholders at RON 1.2 bn, up 203%
u Cash flow from operating activities at RON 2.0 bn, 62% higher
u CAPEX at RON 1.0 bn, up 21%
u Free cash flow after dividends improved by 78% to RON 1.2 bn
u Clean CCS ROACE at 12.7%, 6 pp higher
u Base dividend proposal for 2021: RON 0.0341/share, up 10% yoy
u Record high contributions paid to the State budget of RON 12.3 bn in 2021
u TRIR: 0.60 (Q4/20: 0.38)
Upstream
u Clean Operating Result at RON 588 mn vs. RON 26 mn in Q4/20 due to higher oil prices
u Production decreased by 12.8%, mainly due to the divestment of production assets from Kazakhstan in Q2/21 and high natural decline in the main fields
u Production cost increased by 12% to USD 12.8/boe, mainly driven by lower production available for sale
Downstream Oil
u Clean CCS Operating Result at RON 550 mn, up 100% reflecting favorable refining margins environment and strong demand
u OMV Petrom indicator refining margin at USD 7.52/bbl, up 277% on higher product spreads, mainly for gasoline and diesel
u Refinery utilization rate at 101%, compared to 96% in Q4/20
u Retail volumes 8% higher, reflecting robust fuels demand
Downstream Gas
u Clean Operating Result at RON 444 mn, 93% higher, on excellent power business performance
u Gas sales volumes down by 7%, mainly on lower equity gas
u Record high net electrical output of 1.55 TWh, 32% higher, in the context of excellent availability and utilization of Brazi power plant as well as supportive spark spreads
Key events
u On December 7, OMV Petrom announced its Strategy 2030: Transforming for a lower carbon future, as well as a stronger commitment for a 5%-10% annual increase of the base dividend
u OMV Petrom closed the transfer of 40 marginal onshore oil and gas fields to Dacian Petroleum
u OMV Petrom announced new partnerships with charge&GO and Renovatio for electric mobility in Serbia and Moldova
Please access the link here below to view the full report.
http://www.rns-pdf.londonstockexchange.com/rns/5841A_1-2022-2-3.pdf