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OMV Petrom Group: results for Q2 and January – June 2014, including interim financial statements as of June 30, 2014

Q2/14 vs Q2/13

  • Clean CCS EBIT decreased by 20%, burdened mainly by the one-month planned shutdown of the Petrobrazi refinery and the new construction tax in Romania
  • Broadly flat hydrocarbon production in Romania, but lower volumes in Kazakhstan
  • Petrobrazi refinery modernization successfully finalized; marketing sales affected by increased fuels taxation and intensified competition
  • Negative contribution from power business triggered by deteriorated spark spreads
  • CAPEX up 54%, due to refinery modernization and higher exploration expenditures, the latter reflecting increased activity in the Black Sea

OMV Petrom published its results for Q2 and January-June 2014, on August 12, 2014 at 8.30am (local time)/ 7.30am (CEST)/ 6.30am (BST).

The presentation by

  • Mariana Gheorghe, Chairman of the Executive Board and CEO
  • Andreas Peter Matje, Executive Board member and CFO
  • Neil Anthony Morgan, Executive Board member responsible for R&M

was broadcast as a live webcast at 4.00pm (local time) / 3.00pm (CEST) / 2.00pm (BST).

A replay of the webcast is available on the link here below.

>>Click here to access the webcast

OMV Petrom Investor News Q2 2014 (PDF, 312,1 KB)