Contact
OMV Websites
en de
OMV Websites
OMV Websites
OMV www.omv.com Austria www.omv.at Bulgaria www.omv.bg Czech Rep. www.omv.cz Germany www.omv.de Hungary www.omv.hu New Zealand www.omv.nz Norway www.omv.no Romania www.omv.ro Russia www.omv.ru Serbia www.omv.co.rs Slovakia www.omv.sk Slovenia www.omv.si Tunisia www.omv.tn Turkey www.omv.com.tr UAE www.omv.ae
OMV Gas Websites
OMV Gas www.omv-gas.com Austria www.omv-gas.at Belgium www.omv-gas.be Germany www.omv-gas.de Hungary www.omv-gas.hu Netherlands www.omv-gas.nl
OMV Petrom Websites
OMV Petrom www.omvpetrom.com Petrom Romania www.petrom.ro Petrom Moldova www.petrom.md
Borealis Websites
Borealis Group www.borealisgroup.com
Close

Report January - December and Q4 2013

  • Strong operating cash flow at EUR 4.1 bn, higher by 8% in 2013
  • Romanian production in 2013 increased year-on-year for the first time since Petrom’s privatization in 2004
  • Clean CCS EBIT at EUR 444 mn in Q4/13
  • Acquisition of assets from Statoil closed on October 31, contributing 18 kboe/d to production in Q4/13
  • Gearing ratio at 30% in line with the long-term target, despite high investment level
  • Long-term gas supply contract with Statoil renegotiated; interim agreement reached with Gazprom
  • Downstream restructuring on track: Sale of OMV’s 45% stake in the Bayernoil refinery network signed
  • The Executive Board proposes an increased dividend of EUR 1.25 per share for 2013

Gerhard Roiss, CEO of OMV:
"2013 was a pivotal year for OMV, a year in which we made substantial progress in shaping the company from an integrated, predominantly downstream organization to an integrated but strongly upstream-focused company. Despite challenges in Libya and Yemen, historically low refining margins and depressed spot prices in the gas sector, we have laid the foundations for a strong profitable future. The USD 2.65 bn acquisition of upstream assets from Statoil will play a key part in delivering our strategy; this acquisition was largely funded by our successful efforts to reduce working capital and leaves balance sheet gearing at the end of the year at 30%, consistent with our long-term target. Furthermore, we strengthened the exploration portfolio by acquiring interests in Madagascar and Gabon and made promising discoveries in Norway, Pakistan and Libya. In downstream, we renegotiated our long-term gas supply contract with Statoil, reached an interim agreement with Gazprom and made substantial progress in our divestment program by signing the sale of OMV’s 45% stake in the Bayernoil refinery network. We have now built the portfolio to successfully deliver our 2016 targets, enabling us to grow our long-term profitability as the projects within the portfolio are delivered."

Further information please find in the download report January - December and Q4 2013 in the sidebar.