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

• Clean CCS Operating Result at RON 1.0 bn, 36% higher
• Clean CCS net income attributable to stockholders at RON 0.85 bn, up 83%
• Cash flow from operating activities at RON 1.4 bn, 3% higher
• CAPEX at RON 0.9 bn, down 30%
• Dividends for the 2018 financial year paid, RON 1.5 bn
• Free cash flow after dividends at RON (1.1) bn, 65% lower
• Clean CCS ROACE at 16.4%, 7 pp higher

Upstream

• Clean Operating Result at RON 774 mn, weaker by 6%, mainly driven by lower oil prices and hydrocarbon volumes
• Production decreased by 5.6%, mostly due to natural decline and the transfer of marginal fields
• OPEX improved by 4% to USD 11.20/boe, reflecting favorable FX effects and cost optimization

Downstream Oil

• 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
• OMV Petrom indicator refining margin at USD 3.85/bbl, down 43%
• Refinery utilization rate at 94%; retail volumes up 3%

Downstream Gas

• Clean Operating Result at RON (18) mn compared to RON 26 mn in Q2/18, with lower contribution from both gas and power activities
• 4% lower gas sales volumes to third parties; net electrical output at 0.05 TWh in the context of negative spark spreads
• 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

Results report (PDF, 1011,4 KB)

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For more details, please go to the page https://www.omvpetrom.com/en/investors/publications?quarter=Q2&year=2019#interim-reports

Contact:
OMV Petrom Investor Relations
Tel: +40 372 161930, Fax: +40 372 868518
E-mail: investor.relations.petrom@petrom.com