OMV sells a further 30 filling stations
August 21, 2009 - 10:00 am (CET)
- 30 filling stations sold: continued operation of stations guaranteed by acquirers
- Negotiations for disposal of an additional 15 stations currently underway
- OMV to evaluate the potential closure of unsold stations
In 2008 OMV sold 60 OMV and Avanti filling stations throughout Austria. Early in 2009, OMV announced its intention to continue with the optimisation of its filling station network as part of a new network evaluation, and to dispose of an additional 70 OMV and Avanti stations across the country. Against the backdrop of an ever increasing competitive marketplace and shrinking margins, such measures have now become necessary throughout the entire petroleum industry. 30 stations have been sold to new acquirers and operators, with negotiations for the disposal of a further 15 stations currently underway with private interested parties. Suitable investors have not been found for the remaining 25 filling stations due to tighter legal and economic conditions in the filling station market. As a result OMV is evaluating the potential closure of the remaining locations.
OMV continues to pursue a growth strategy in the premium segment of the filling station market. The focus is on strengthening and further expanding well located and highly frequented stations. At the beginning of 2009, the company announced the disposal of 70 OMV and Avanti filling stations across the country as part of a new network evaluation aimed at enhancing efficiency and optimising costs.
To date 18 OMV and 12 Avanti stations have been sold to new acquirers and operators:
- In Carinthia, Styria and Upper Austria a total of 13 stations were sold to Annawitt and will operate under the brand A1.
- Nine filling stations in Burgenland and Lower Austria were acquired by the Vienna-based petroleum wholesale company AWI.
- In Tirol and Vorarlberg four stations were taken over by Gutmann.
- In the Federal Province of Salzburg four stations were sold to Leikermoser.
15 additional OMV and Avanti stations will be sold to private interested parties, with negotiations currently underway.
Suitable investors could not be found for the remaining 25 filling stations. Due to tighter regulations, increased competition and shrinking margins in the filling station market, a resolution with interested parties could not be reached. OMV is therefore currently evaluating the possible closure of the remaining locations.
Background information:
OMV Aktiengesellschaft
With Group sales of EUR 25.54 bn and a workforce of 41,282 employees in 2008, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. As the leading energy group in the European growth belt, OMV is active in Refining and Marketing (R&M) in 13 countries. In Exploration and Production (E&P) OMV is active in 17 countries on four continents. In Gas & Power (G&P) OMV sells approximately 13 bcm gas per year. Via Baumgarten, one of the most important turntables for gas in Europe, approximately 66 bcm gas is transported annually. OMV’s Central European Gas Hub is amongst the three largest hubs in Continental Europe.
OMV is the leading energy group in the European growth belt with oil and gas reserves of approximately. 1.2 bn boe, daily production of around 311,000 boe and an annual refining capacity of approximately 26 mn t. OMV now has 2,483 filling stations in 13 countries. The market share of the group in the R&M business segment in the Danube Region is now 20%.
OMV further strengthened its leading position in the European growth belt through the acquisition of 41.58% of Petrol Ofisi, Turkey’s leading company in the retail and commercial business.
In June 2006, OMV has established the OMV Future Energy Fund, a wholly owned subsidiary to support projects in renewable energy with more than EUR 100 mn to initiate the change from a pure oil and gas group to an energy group with renewable energy in its portfolio.
Corporate Social Responsibility (CSR)
OMV is a signatory to the UN Global Compact, and an active supporter to the values enshrined in its Code of Conduct. These include a strong sense of responsibility towards the social and natural environment, especially in economically weak regions. OMV continuously addresses economic, environmental and social issues related to its business in a responsible manner. The Company reports on its CSR activities in a sustainability report in accordance with the Global Reporting Initiative Guidelines. This report is published at the same time as the annual report.