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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


  • 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


  • 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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OMV Petrom Investor Relations
Tel: +40 372 161930, Fax: +40 372 868518