Results for Q1 2019

OMV Petrom Group results for January - March 2019 

including unaudited interim condensed consolidated financial statements as of and for the period ended March 31, 2019

Highlights Q1/19 vs Q1/18

Group

u Clean CCS Operating Result at RON 1.2 bn, 28% higher

u Clean CCS net income attributable to stockholders at RON 1.1 bn, up 40%; Clean CCS EPS at RON 0.0186

u Cash flow from operating activities at RON 1.5 bn, 16% lower

u CAPEX at RON 0.8 bn, down 2%

u Free cash flow after dividends at RON 0.7 bn, 9% lower

u Clean CCS ROACE at 15.2%

Upstream

u Clean Operating Result increased by 28%, to RON 825 mn, positively influenced by FX and gas price

u Daily production decreased by 5.5%, mainly due to natural decline in Romania and lower production in Kazakhstan

u OPEX of USD 11.66/boe, 2% lower, reflects favorable FX effects and continuous cost management

Downstream Oil

u Clean CCS Operating Result at RON 221 mn, 9% lower, with strong operational performance, partly offsetting the weaker refining margins

u OMV Petrom indicator refining margin at USD 3.62/bbl, down 45%

u Refinery utilization rate at 96%; retail volumes up 6%

Downstream Gas

u Clean Operating Result doubled, at RON 157 mn, mainly on improved power market conditions

u Net electrical output up 21% to 1.08 TWh

u Gas sales volume decreased by 14% to 12.23 TWh 

Key events

u Portfolio optimization: the transfer of nine marginal fields to Mazarine Energy Romania became effective on March 1, 2019, as part of the second divestment round, a step forward in simplifying our footprint

u Polyfuel: the new unit in Petrobrazi refinery started production in March. The plant, an investment of approximately EUR 65 mn, represents the first of its kind for the OMV Group and employs state-of-the-art and environmentally friendly technology.

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