OMV’s Clean CCS operating result and Clean CCS net income attributable to stockholders significantly higher than analysts’ consensus in the first quarter 2017
Public disclosure of inside information according to Art 17 MAR
OMV Group has achieved a Clean CCS operating result and a Clean CCS net income attributable to stockholders for the first quarter 2017 which are significantly above analysts’ consensus. All mentioned figures are preliminary and unaudited.
Clean CCS operating result amounts to approximately EUR 800 mn (compared to Q1/2016: EUR 262 mn). The Clean CCS operating result by business segment is as follows:
- Upstream: approximately EUR 320 mn (compared to Q1/2016: EUR (96) mn)
- Downstream: approximately EUR 490 mn (compared to Q1/2016: EUR 319 mn)
- - Thereof Downstream Oil: approximately EUR 410 mn
(compared to Q1/2016: EUR 296 mn)
- - Thereof Downstream Gas: approximately EUR 80 mn
(compared to Q1/2016: EUR 23 mn)
Clean CCS net income attributable to stockholders amounts to approximately
EUR 500 mn (compared to Q1/2016: EUR 174 mn).
The following effects have impacted the results in Q1 2017 compared to Q1 2016:
- In Upstream, higher oil and gas prices coupled with higher sales volumes and foreign exchange effects positively impacted earnings by approximately EUR 380 mn.
- Depreciation in Upstream and Downstream was approximately EUR 70 mn lower.
- Higher OMV indicator refining and petrochemical margins in Downstream Oil as well as positive valuation impacts in Downstream Gas contributed approximately EUR 80 mn to earnings.
The strong results in Q1 2017 benefitted from one-time operational effects.
The full quarterly results for Q1 2017 will be published on May 11, 2017.