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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

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)

Click here to access the webcast

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