31 Jul 2019 07:00
OMV Petrom S.A.
Investor News
July 31, 2019
OMV Petrom Group results for January - June and Q2 2019
including unaudited interim condensed consolidated financial statements as of and for the period ended June 30, 2019
Highlights Q2/19 vs Q2/18
Group
u Clean CCS Operating Result at RON 1.0 bn, 36% higher
u Clean CCS net income attributable to stockholders at RON 0.85 bn, up 83%
u Cash flow from operating activities at RON 1.4 bn, 3% higher
u CAPEX at RON 0.9 bn, down 30%
u Dividends for the 2018 financial year paid, RON 1.5 bn
u Free cash flow after dividends at RON (1.1) bn, 65% lower
u Clean CCS ROACE at 16.4%, 7 pp higher
Upstream
u Clean Operating Result at RON 774 mn, weaker by 6%, mainly driven by lower oil prices and hydrocarbon volumes
u Production decreased by 5.6%, mostly due to natural decline and the transfer of marginal fields
u OPEX improved by 4% to USD 11.20/boe, reflecting favorable FX effects and cost optimization
Downstream Oil
u Clean CCS Operating Result at RON 339 mn, 74% higher, due to excellent operational performance, offsetting the weaker refining margins, while Q2/18 was impacted by the refinery turnaround
u OMV Petrom indicator refining margin at USD 3.85/bbl, down 43%
u Refinery utilization rate at 94%; retail volumes up 3%
Downstream Gas
u Clean Operating Result at RON (18) mn compared to RON 26 mn in Q2/18, with lower contribution from both gas and power activities
u 4% lower gas sales volumes to third parties; net electrical output at 0.05 TWh in the context of negative spark spreads
u Since May 2019, OMV Petrom has been supplying the gas regulated market; 2.94 TWh were delivered in Q2/19 to the households and district heating for households suppliers, as per the set allocation
Please access the link here below to view the full report.
http://www.rns-pdf.londonstockexchange.com/rns/3261H_1-2019-7-31.pdf