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Results of OMV’s Ordinary Annual General Meeting 2011

May 17, 2011

  • Dividend of EUR 1.00 per share approved
  • Authorization granted for share buy-back
  • Authorization granted for the 2011 Long Term Incentive Plan
  • Election of members of the Supervisory Board

OMV’s Ordinary Annual General Meeting has approved a dividend of EUR 1.00 per share for 2010 as well as all other agenda resolutions. OMV CEO Gerhard Roiss says: "OMV has gone from strength to strength in the past few years and also in 2010. Despite what remained a challenging environment that is reflected in continued high volatility of the oil price, among other factors, we were able to raise EBIT and net income well above the level of 2009. A major milestone in 2010 was the acquisition of a majority stake in Petrol Ofisi, which has also enabled us to significantly expand our position in the growing Turkish market."

Today’s General Meeting has approved a dividend of EUR 1.00 per share, which corresponds to a payout ratio of 32%. The payment date was agreed for May 24, 2011. The meeting 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 2010. Ernst & Young Wirtschaftsprüfungsgesellschaft m.b.H., Vienna, was elected as the auditor and Group auditor for the 2011 financial year.

Share buy-back and utilization of treasury stock
The authorization of the Executive Board, granted by resolution of the Annual General Meeting in 2009, to repurchase and utilize shares in the Company, insofar as this has not been used already, was revoked. Simultaneously, the meeting again authorized the Executive Board to repurchase own bearer shares up to the maximum legally permitted. The validity period of this authorization is 30 months commencing today. The share buy-back could be carried out for a minimum consideration per share being at the utmost 30% lower than the average, un-weighted market closing price over the preceding ten trading days and a maximum consideration per share being at the utmost 30% greater than the average, un-weighted market closing price over the preceding ten trading days.

The Executive Board is authorized, subject to the approval of the Supervisory Board but not to any further resolution of the General Meeting, to utilize the Company’s treasury stock or dispose of it, also by other means than via stock exchange or public offering, for any legal purpose, and hereby also to exclude the general purchasing possibility of existing shareholders. The validity period of this authorization is five years commencing today.

2011 Long Term Incentive Plan
The General Meeting has again granted authorization for the Long Term Incentive Plan, which is a long-term compensation instrument for the Executive Board and selected senior executives introduced in order to promote mid- and long-term value creation at OMV. The following characteristics for the 2011 Long Term Incentive Plan 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 Peter Michaelis from the Supervisory Board as of the end of this Annual General Meeting, Markus Beyrer was elected as member of the Supervisory Board until the close of the General Meeting deciding on the discharge for the 2013 financial year.

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

Voting results will be posted on the OMV site at > Investor Relations > Events > Annual General Meeting 2011.

Background information: 
OMV Aktiengesellschaft

With Group sales of EUR 23.32 bn and a workforce of 31,398 employees in 2010, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Exploration and Production, OMV is active in two core countries Romania and Austria and holds a balanced international portfolio. OMV had proven oil and gas reserves of approximately 1.15 bn boe as of year-end 2010 and a production of around 318,000 boe/d in 2010. In Gas and Power, OMV sold approximately 18 bcm of gas in 2010. In Refining and Marketing, OMV has an annual refining capacity of 22.3 mn t and as of year-end 2010 approximately 4,800 filling stations in 13 countries including Turkey. In Austria, OMV operates a 2,000 km long gas pipeline network with a marketed capacity of around 89 bcm in 2010. With a trading volume of around 34 bcm in 2010, OMV’s gas trading platform, the Central European Gas Hub, is amongst the most important hubs in Continental Europe. OMV further strengthened its position through the ownership of a 96% stake in Petrol Ofisi, Turkey’s leading company in the retail and commercial business.

Under its 3plus strategy, OMV combines the strengths of its E&P, G&P and R&M business units in order to ensure that it provides the best possible supply service to its three core markets of Central and Eastern Europe, Southeast Europe and Turkey. OMV uses the synergies that result from the combination of these strengths to extend its supply chain from oil and gas through to electricity and eventually renewable energy.

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.

Annual General Meeting 2011 ”carbon neutral”
After having realized the first “carbon neutral” Annual General Meeting in Austria in 2007, OMV once more in 2011 contributes to sustainable development and climate protection by the way 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 offset these emissions through CO2 reduction certificates bought from a selected project. Thus, the Annual General Meeting is confirmed carbon neutral for the fifth time. Carbon neutral means that unavoidable emissions of greenhouse gases into the atmosphere will be compensated by emission reductions achieved in climate protection projects. A carbon neutral Annual General Meeting is one of our various activities to ensure economic, environmental and social sustainability of our business activities.

Next result announcement: January – June and Q2 2011 on August 10, 2011.