It is reporting time again and this is high season for all sorts of financial terms, such as the Clean CCS EBIT. But what is this ominous “Clean CCS EBIT”? And why do they all talk about it?
Clearly, it is a key financial figure. And it is an important one for our business. The OMV Report January – June and Q2 2016 is full of it.
Ok, it is related to earnings – so far, so good. And it is before interest and taxes, as the abbreviation might tell us. But why is it “cleaner” than the ordinary EBIT? And where does the CCS in “Clean CCS EBIT” come from?
The Clean CCS EBIT helps the comparison to previous years and to our peers performance, as the entire oil and gas industry looks at similar version of the Clean CCS result.
Ariadna Pui, Group Controlling at OMV Aktiengesellschaft
Our controlling experts explain, that the “Clean CCS EBIT” is the operating earnings without one-off special effects and adjusted by the current cost of supply – and thus an important key figure to compare OMV’s performance to our peers in the oil and gas industry.
Check the video to clarify a big mystery for once and for all.