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Results of OMV’s Ordinary Annual General Meeting 2010

May 26, 2010 - 6:40 pm (CET)

  • Dividend of EUR 1.00 per share approved
  • Authorization granted for the 2010 Long Term Incentive Plan
  • Election of members of the Supervisory Board
  • Amendments to the Articles of Association approved

OMV’s Ordinary Annual General Meeting has approved a dividend of EUR 1.00 per share for 2009 as well as all agenda resolutions. OMV CEO Wolfgang Ruttenstorfer said: “The calendar year 2009 was shaped by the global economic crisis and did not leave our industry unscathed. The average dollar price of Brent was significantly below the previous year’s level and remained volatile, climbing from USD 40 per barrel at the start of the year to almost USD 80 per barrel by mid-November. Nevertheless, we succeeded in strengthening our balance sheet and improving our cost base. Our far-sighted planning, robust financial structure and integration strategy showed themselves to be safeguards of sustainable success in this challenging environment.”

Today’s General Meeting has approved a dividend of EUR 1.00 per share, which corresponds to a payout ratio of 52%. The payment date was agreed for June 1, 2010. The meeting was presented the duly adopted annual financial statements and discharged the Executive Board and Supervisory Board. The annual remuneration of the Supervisory Board was set at the same level as in 2009. Deloitte Audit Wirtschaftsprüfungs GmbH was re-elected as auditor for 2010.

2010 Long Term Incentive Plan
The General Meeting has granted the authorization for the 2010 Long Term Incentive Plan, which is a long-term compensation instrument for the Executive Board and selected senior executives in order to promote mid- and long-term value creation at OMV. Following characteristics have been approved accordingly: Duration, eligibility, investment requirements, success criteria, minimum and maximum bonus shares as well as withdrawal rules.

Election of members of the Supervisory Board
Due to the resignation of Mr. Rainer Wieltsch and Mr. Mohamed Al Khaja from the Supervisory Board as of the end of this Annual General Meeting, the following people were elected as members of the Supervisory Board until the close of the General Meeting which concerns the fiscal year 2013:

  • Mr. Khadem Al Qubaisi,
  • Mr. Wolfgang C. Berndt.

The CVs of all members of the Supervisory Board are available on OMV’s website.

Amendments to the Articles of Association
The General Meeting has approved amendments to the Articles of Association to exclude the evidencing of shares by certificates, to reflect recently enacted legislature and to make terminological adjustments.

Voting results will be posted on the OMV site at www.omv.com > Investor Relations > Events > Annual General Meeting.

Background information:
OMV Aktiengesellschaft

With Group sales of EUR 17.92 bn and a workforce of 34,676 employees in 2009, 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 & Marketing (R&M) in 12 countries. In Exploration & 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. Through its 2,000 km long gas pipeline network in Austria G&P transports approximately 75 bcm gas annually. OMV’s Central European Gas Hub is with around 23 bcm annually trading volume one of the most important gas hubs in Continental Europe.

OMV is the leading energy group in the European growth belt with oil and gas reserves of approximately. 1.19 bn boe, daily production of around 317,000 boe in Q1/10 and an annual refining capacity of approximately 26 mn t. OMV now has 2,331 filling stations as of Q1/10. 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.

Sustainability
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 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.

Annual General Meeting 2010 „carbon neutral“ 
After having realized the first “carbon neutral” Annual General Meeting in Austria in 2007, OMV once more in 2010 contributes to sustainable development and climate protection by the way how the Annual General Meeting was organized. In order to do so, we have determined the CO2 emissions caused by the realization of the Annual General Meeting, and we off-set these emissions through CO2 reduction certificates bought from a selected project. Thus, the Annual General Meeting is realized carbon neutral for the fourth time. Carbon neutral means that unavoidable emissions of greenhouse gases into the atmosphere will be compensated by emission reductions achieved in climate protection projects. We have selected a wind power plant that generates renewable energy and hence contributes to reducing greenhouse gas emissions significantly. A carbon neutral Annual General Meeting is one of our various activities to ensure economic, environmental and social sustainability of our business activities.

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