- Cash flow from operating activities increased to EUR 2,199 mn; cash flow excluding net working capital effects increased to EUR 2,334 mn
- Strong balance sheet with a low leverage ratio of 17%
- Energy results driven by favorable market environment
- Fuels results positively affected by substantially higher refining margins, high utilization rates and favorable product mix; results partly offset by lower Retail contribution
- Chemicals results impacted by declining market prices versus a favorable second quarter market environment; Borouge International integration process continues
OMV today announced its results for the third quarter of 2026.1 The company achieved a clean CCS Operating Result of EUR 2,117 million and clean CCS net income attributable to stockholders of the parent of EUR 1,153 million. Sales revenues from continuing operations totaled EUR 8,959 million. Cash flow from operating activities stood at EUR 2,199 million. Cash flow from operating activities excluding net working capital effects amounted to EUR 2,334 million, representing an increase of 57 percent compared to Q3/25.
The clean Operating Result of the Energy segment rose to EUR 936 million. The clean CCS Operating Result of the Fuels segment increased to EUR 1,124 million. The clean Operating Result of the Chemicals segment declined to EUR 63 million. The clean CCS Earnings Per Share were EUR 3.54. OMV’s balance sheet remains solid, with net debt amounting to EUR 4,403 million and a leverage ratio of 17 percent at the end of the third quarter of 2026.
Emma Delaney, Chair of the Executive Board and CEO: “In the third quarter, OMV delivered a clean CCS Operating Result of EUR 2.1 billion. Fuels and Energy were the main drivers of earnings, while Chemicals recorded a lower contribution, also reflecting the changed consolidation scope. We maintained our focus on safe, reliable operations and disciplined project execution amid ongoing geopolitical challenges.”
Energy
The clean Operating Result in the Energy segment increased by 51 percent to EUR 936 million in the third quarter of 2026 (Q3/25: EUR 622 million). The increase was mainly driven by positive market effects of EUR 515 million, reflecting significantly higher realized gas and oil prices. This more than compensated for lower sales volumes resulting from lack of liftings in the Middle East owing to logistical constraints.
Hydrocarbon production amounted to 294 kboe/d (Q3/25: 304 kboe/d), reflecting a resilient operational performance despite natural decline in Romania, New Zealand and Norway. Total hydrocarbon sales volumes decreased to 225 kboe/d (Q3/25: 306 kboe/d). The lack of liftings in the Middle East due to the conflict in the region was the main reason for the decline. Sales volumes also came in lower in Norway, primarily because of the lifting schedule, and in Romania, reflecting production levels.
Fuels
The clean CCS Operating Result in the Fuels segment increased significantly in the third quarter of 2026 to EUR 1,124 million (Q3/25: EUR 413 million). This was mainly driven by substantially higher refining indicator margins in Europe and the Middle East, as well as high refining utilization rates in combination with an improved product mix. The higher result in the refining businesses more than offset lower contributions from the retail business, which was impacted by weaker fuel margins following the steep increase in international oil product quotations after the Iran conflict, which were only partly compensated for by higher sales volumes. The result of the commercial business remained at a comparable level.
The OMV refining indicator margin Europe more than tripled to USD 37.5/bbl (Q3/25: USD 11.5/bbl), primarily supported by stronger middle distillate and gasoline cracks due to the tight supply of refined products following the ongoing conflict in the Middle East and the partial closure of the Strait of Hormuz. Renewed attacks on Russian refining infrastructure tightened global balances further.
ADNOC Refining & Trading contributed EUR 158 million, up from EUR 52 million in the prior-year quarter. The result was supported by high utilization rates at ADNOC Refining in an exceptionally strong refining margin environment.
Chemicals
The clean Operating Result in the Chemicals segment amounted to EUR 63 million in the third quarter of 2026, compared with EUR 222 million in the prior-year quarter.
The result of OMV base chemicals increased substantially compared to Q3/25, mainly due to significantly stronger olefin indicator margins. At 82%, the utilization rate of the steam crackers operated by OMV increased by 3 percentage points (Q3/25: 79%).
The contribution of Borouge International, accounted for as OMV’s share of clean net income of the at-equity consolidated company, came in at EUR 16 million in Q3/26. This reflected a steep decline in benchmark prices, exacerbated by a not equal decline in input prices, especially in Europe and USA. Compared to Q2/26, when benchmark prices reflected global shortages due to the conflict in the Middle East, Q3/26 was characterized by broad-based price corrections across global olefins and polyolefins markets.
Key figures Q3 2026 vs. Q3 2025
Group
- Sales revenues from continuing operations of EUR 8,959 mn, up 43%
- Clean CCS Operating Result of EUR 2,117 mn, up 68%
- Clean CCS net income attributable to stockholders of the parent of EUR 1,153 mn, up 94%
- Clean CCS Earnings Per Share of EUR 3.54, up 95%
- Cash flow from operating activities excluding net working capital effects of EUR 2,334 mn, up 57%
- Cash flow from operating activities of EUR 2,199 mn, up 101%
Energy
- Average realized oil price of USD 94/bbl, up 41%
- Average realized natural gas price of EUR 49.24/MWh, up 80%
- Hydrocarbon production of 294 kboe/d, down 3%
- Production cost of USD 10.53/boe, down 4%
- Clean Operating Result of EUR 936 mn, up 51%
Fuels
- OMV refining indicator margin Europe of USD 37.50/bbl, up 225%
- OMV refinery utilization rate Europe of 92%, up 1 percentage points
- Fuels and other sales volumes Europe of 4.57 mn t, up 4%
- Clean CCS Operating Result of EUR 1,124 mn, up 172%
Chemicals
- Ethylene indicator margin Europe of EUR 675/t, up 18%
- Propylene indicator margin Europe of EUR 604/t, up 35%
- OMV steam cracker utilization rate of 82%, up 3 percentage points
- Clean Operating Result of EUR 63 mn, down 72%
Outlook for 2026
- OMV Group organic CAPEX projected at around EUR 3.5 bn (previous forecast: around EUR 3.4 bn)
- Average Brent price expected to be higher than USD 95/bbl (previous forecast: between USD 85 and 95/bbl
- OMV expects total hydrocarbon production to be around 290 kboe/d (previous forecast: between 280 kboe/d and 290 kboe/d; 2025: 305 kboe/d), subject to geopolitical developments
- Average realized gas price expected to be around EUR 45/MWh, with the THE price forecast higher than EUR 55/MWh (previous forecast: OMV average realized gas price around EUR 40/ MWh, THE price around EUR 50/MWh)
- OMV refining indicator margin Europe predicted to be around USD 25/bbl (previous forecast: around USD 20/bbl)
- Refinery utilization rate Europe projected at over 90%
You can find the OMV Group Report Q3 2026 here.
1 The figures stated relate to the third quarter of 2026; unless otherwise stated, the comparison is to the third quarter of the previous year.
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About OMV
It is our purpose to reinvent everyday essentials. OMV is an integrated energy, fuels and chemicals company headquartered in Vienna, Austria. Through its businesses, OMV supplies products and solutions that support everyday life and industrial value chains.
In 2025, the company generated revenues of EUR 24 billion and employed around 22,300 people worldwide. OMV's key strategic shareholdings include a 51.2% stake in OMV Petrom and a 50% stake in Borouge International. OMV shares are traded on the Vienna Stock Exchange (OMV) and in the United States on OTCQX (OMVKY, OMVJF).