What´s the one word that comes to your mind, reflecting on Q1 2025?
Alfred Stern: Excitement.
Why is that?
Alfred Stern: The announced formation of Borouge Group International – bringing together three world-class companies, Borealis, Borouge, and NOVA Chemicals – is my Q1 highlight. It is a game-changing transaction that will create the world’s fourth-largest polyolefins company. Together with our long-term partner ADNOC we are creating a leading global chemicals company. Very few organizations in our industry have ever achieved this scale and impact with one move. Borouge Group International will be in a strong position to create value, catalyzed by solid synergies and a strong pipeline of organic growth projects. It’s an unparalleled example of how we will build long-term resilience and returns for our shareholders.
Speaking of financials: How was OMV's performance in the first quarter of 2025?
Alfred Stern: OMV had a profitable start into 2025 amid challenging macro and market conditions. Our Group Sales Revenues of 6.2 billion euros came in at a stable level, with positive result contributions from all three business units.
Financial resilience seems to remain a core strength. How is OMV positioned going forward?
Alfred Stern: Absolutely. Our integrated business model, with the three segments chemical, fuels and energy, continues to deliver. In Q1, we generated a robust Cash Flow from Operating Activities of 1.36 billion euros. Our balance sheet remains strong, supported by a low leverage ratio. This financial stability is crucial for executing our long-term transformation strategy.
You mentioned transformation: What were the key milestones this quarter?
Alfred Stern: We made significant progress in delivering on our Strategy 2030. One key milestone was the successful start-up of OMV’s new ReOil plant. We also advanced our diversified gas portfolio. OMV Petrom has spudded the first gas production well in the Neptun Deep project in the Black Sea. We are on track to start production in 2027. And we’ve taken the final investment decision for the Wittau Tief project in Austria, where production is planned to start in the second half of 2026, potentially increasing our gas production in Austria by around 50%.
How does OMV see its role in ensuring a stable and secure energy supply for Europe?
Alfred Stern: Now more than ever, we believe that increasing supply is key to strengthening Europe’s energy security. Our commitment to diversify our gas portfolio from own production projects and third-party suppliers underlines OMV’s strong contribution to providing reliable and affordable energy.
One last question – what makes you most optimistic about the months ahead?
Alfred Stern: The people at OMV. Their dedication, know-how and ability to adapt are what drive our success. We have a purpose and clear vision, exciting projects in the pipeline, and highly skilled employees to tackle what’s next with a growth mindset. That gives me a lot of confidence for 2025 and beyond.