PETB.L Regulatory News (PETB)

OMV Petrom S.A.

July 29, 2020

OMV Petrom Group results for January - June and Q2 2020 

including unaudited interim condensed consolidated financial statements as of and for the period ended June 30, 2020

Highlights Q2/20 vs Q2/19

Group

uSwift measures and the integrated business model partly counterbalanced the depressed environment

uClean CCS Operating Result at RON 0.3 bn, 72% lower

uClean CCS net income attributable to stockholders at RON 0.3 bn, down 62%

uCash flow from operating activities at RON 1.2 bn, 14% lower

uCAPEX at RON 0.6 bn, down 31%

uDividends for the 2019 financial year paid, RON 1.7 bn, 15% higher

uFree cash flow after dividends at RON (1.2) bn, 18% lower

uClean CCS ROACE at 10.3%, 6 pp lower

uLTIR: 0.19 (Q2/19: 0.40)

Upstream

uClean Operating Result at RON (130) mn vs. RON 774 mn in Q2/19, mainly due to lower oil and gas prices

uManaged to contain production decline at 2.6%, supported by the contribution of the 4461 Totea South exploration well

uOPEX improved by 11% to USD 10.0/boe, reflecting further operational efficiencies and favorable FX

Downstream Oil

uClean CCS Operating Result at RON 292 mn, 14% lower, on low refining margins and weak demand, partly counterbalanced by strong performance in all sales channels

uOMV Petrom indicator refining margin at USD 1.85/bbl, down 52%

uRefinery utilization rate at 89%; planned shutdown postponed for July; retail volumes lower by 25%

Downstream Gas

uClean Operating Result at RON 150 mn compared to RON (18) mn in Q2/19, driven by the excellent power business performance

uGas sales volumes up by 39%, covering all sales channels, supported by strong third party supply; net electrical output at 0.57 TWh, significantly higher; power plant planned shutdown shifted to Q4/20

uIn Q2/20, OMV Petrom supplied the regulated gas market with 1.45 TWh

Key events

uOMV Petrom is the winning bidder for an oil and gas exploration block in the Black Sea, offshore Georgia

uOMV Petrom completed the installation of photovoltaic panels in all the 78 filling stations planned for 2020

uOMV Petrom and Eldrive concluded an agreement to install 30 fast charging stations for electric cars in filling stations in Romania and Bulgaria

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

http://www.rns-pdf.londonstockexchange.com/rns/4455U_1-2020-7-29.pdf