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• Cash Flow from Operating Activities: EUR1.4 billion, a 32% increase compared to the previous quarter.

• Clean CCS Operating Result: EUR1.2 billion, 22% below the prior year quarter and 16% lower than the fourth quarter of 2024.

• Clean CCS Earnings Per Share: EUR1.26.

• Polyolefin Sales Volumes: Grew by 10% year on year.

• Hydrocarbon Production: 12% down year on year due to the divestment of Malaysian assets.

• Net Debt: Stable with a leverage ratio of 12%.

• Cash Position: EUR6.5 billion with EUR4.2 billion in undrawn committed credit facilities.

• Organic Free Cash Flow Before Dividends: EUR441 million for the first quarter of 2025.

• Organic Capex: EUR800 million for the first quarter, with a full-year outlook of EUR3.6 billion.

• Refining Indicator Margin: Projected at approximately $6 per barrel for the entire year.

• Production Costs: Increased slightly to $10.1 per barrel.

• European Cracker Operating Rates: Increased from 67% in Q4 2024 to 76% in Q1 2025.

• Warning! GuruFocus has detected 7 Warning Signs with OMVJF.

Release Date: April 30, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• OMV AG (OMVJF) reported a strong cash flow from operating activities of nearly EUR1.4 billion, marking an increase of over 30% compared to the previous quarter.

• The company achieved a significant milestone by signing a binding agreement with ADNOC to form Borouge Group International, which will be the fourth largest polyolefin player globally.

• OMV AG (OMVJF) maintained a strong balance sheet with a low leverage ratio of 12% and a cash position of EUR6.5 billion.

• The company commenced drilling operations at the Neptun Deep project in the Black Sea, expected to add around 70,000 barrels per day to its portfolio by 2027.

• OMV AG (OMVJF) successfully started up the ReOil plant in Austria, which processes hard-to-recycle plastics and is expected to reduce CO2 emissions by up to 34%.

Negative Points

• OMV AG (OMVJF) experienced a 12% year-on-year decline in hydrocarbon production due to the divestment of Malaysian assets.

• The clean CCS operating result was EUR1.2 billion, 22% below the prior year quarter and 16% lower than the fourth quarter of 2024.

• The clean operating result of the energy segment declined by EUR140 million to EUR910 million, primarily due to lower gas marketing and power contributions.

• The refining indicator margins were volatile and significantly below the strong prior year quarter, impacting the clean operating result of fuels and feedstock.

• OMV AG (OMVJF) faced macroeconomic challenges, with the construction sector stagnant and only a modest recovery in the automotive industry, affecting olefin prices.