OMV Results January June and Q2 2014 August 12, 2014 OMV Aktiengesellschaft
Strategic highlights and results January June 2014 Gerhard Roiss, Chairman of the Executive Board and CEO OMV Aktiengesellschaft
Market environment 6m/14 Brent oil price in USD/bbl 111 108 06/2014 01/2014 Oil price: Slight increase of Brent oil price to 6m/14 average of USD 109/bbl vs. 6m/13 (USD 107.5/bbl) Operating environment: Political instability in…
Highlights Black Sea: Second Domino well spudded North Sea Region: Gudrun production start-up in Norway Acquisition of licenses in West of Shetland to strengthen UK portfolio Wisting area potential of 200-500 mn boe confirmed…
Financial performance in 6m/14 Clean CCS EBIT (24)% in EUR mn Exploration and Production 1,583 Production loss due to political unrest in Libya. Higher Brent oil price could not compensate weaker USD. Production at 304 kboe/d.…
Stability in the OMV portfolio Current situation in politically less stable regions makes planning increasingly difficult Focus on North Sea region and Black Sea developments further improves balance of portfolio OECD/EU…
Grow Upstream to 400 kboe/d: Key projects in pipeline to reach target in 2016 OMV Production in kboe/d 400 310 1 288 2013 Guidance 2014 Stable core Key growth Yemen, Libya Target 2016 countries projects not impacted by…
Long-term strategic commitment beyond 2016 anchored in new Strategic Incentive Plan Strategic Incentive Plan (SIP) What it is and what it does How it works Long-term compensation vehicle 2014 2018 OMV Grant 1 Grant Personal…
Optimized Downstream R&M: Executed divestments: Closing of Bayernoil transaction 45% stake in Marmara terminal (Turkey) Finalized Petrobrazi refinery modernization Strengthened petrochemical business by capacity expansion of…
Results Q2/14 David C. Davies, Deputy Chairman of the Executive Board and CFO OMV Aktiengesellschaft
Q2/14 Highlights Clean CCS EBIT in EUR mn Stable production at 297 kboe/d; lower oil share 734 weighs on profitability Higher depreciation and production costs mainly due to changed country mix (Norway/Libya) Increased…
Results in Q2/14 Clean CCS net income attributable in EUR mn Q2/14 Q2/13 to stockholders in EUR mn 1 EBIT 232 668 (65)% Financial result (14) (109) (87)% Profit from ordinary activities 219 559 (61)% Taxes (44) (216) (80)% 321…
Special items and CCS effect Q2/14 in EUR mn Q2/14 Q2/13 in EUR mn Clean CCS EBIT 369 734 369 (8) 16 CCS gains/(losses) 16 (67) (132) Clean EBIT 386 667 232 Personnel related costs (8) (1) (27) 13 Unscheduled depreciation (132)…
Cash flow 6m/14 in EUR mn 6m/14 6m/13 in EUR mn Net income 613 1,294 (53)% (164) (108) Depreciation and 1,247 1,019 22% amortization 1,247 Other (164) (538) (69)% Sources of funds 1,695 1,775 (5)% 613 (1,787) Change in net…
CAPEX and EBITD 6m/14 in EUR mn Key investments in Q2/14 2,153 Romania drilling, workovers and redevelopments 1,805 Field developments in Norway (Gullfaks, Gudrun, Edvard Grieg and Aasta Hansteen) 1,716 Maari Growth project in…
Exploration and Production Clean EBIT in EUR mn Q2/14 vs. Q1/14 Q2/14 vs. Q2/13 603 597 6 22 35 (61) (146) (129) (83) (16) 349 (99) 349 (31) Q1/14 Realization Volume Exploration DD&A Other Q2/14 Q2/13 Realization Volume…
Exploration and Production Key Performance Indicators Hydrocarbon production (in kboe/d) Q2/14 vs. Q1/14 297 311 297 275 277 Production decreased by 5% 159 162 145 Libya volume levels impacted by 142 138 security issues…
Exploration and Production OMV Petrom group Hydrocarbon production (in kboe/d) Q2/14 vs. Q1/14 184 182 181 182 180 Clean EBIT at EUR 300 mn, lower by 1%, 88 mainly due to higher production costs and 88 87 87 84 higher…
Gas and Power Clean EBIT in EUR mn Q2/14 vs. Q2/13 (15) (17) 5 65 10 (30) Q2/13 Supply, Gas logistics Power Other Q2/14 marketing and trading Better gas supply and portfolio optimization supported the supply,…
Gas and Power Key Performance Indicators Gas sales and trading volumes in TWh Q2/14 vs. Q2/13 132 118 Gas sales volumes down by 1% mainly 85 86 89 due to low gas demand from power plants counterbalanced by higher…
Refining and Marketing Key Performance Indicators Refining utilization rate in % Q2/14 vs. Q2/13 95 92 94 90 96 90 88 92 90 Overall refining utilization rate at 59 84%, down by 11% Marketing sales volumes decreased slightly…
Key financial indicators Gearing ratio in % 30 33 29 15 12 Key financial principles Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Long-term gearing ratio target of 30% Payout ratio and DPS 1.20 1.25 Maintain a strong investment grade rating…
energize OMV update David C. Davies, Deputy Chairman of the Executive Board and CFO OMV Aktiengesellschaft
energize OMV: +2% points ROACE increase in 2014 on track ROACE impact Date of Progress since status June 30, 2014 finalization program start Stabilize production in Austria and 2014 Romania Accelerate production growth in…
Expected ROACE impact in 2014 Impact of energize OMV on ROACE in 2014 (in % points) Major achievements : 2% target 14,000 boe/d produced by energize initiatives mainly from Romania and Austria in 2014 0.3% to be finalized Cost…
energize OMV: +2% points ROACE increase in 2014 on track 2012 2013 2014 First commingling successes Field redevelopment projects in Commingling production in (600 boe/d achieved) Pakistan brought 4,000 boe/d Austria and Romania…
Exploration and Production Update Jaap Huijskes, Executive Board member responsible for E&P OMV Aktiengesellschaft
E&P project update Exploration only Exploration and production Continuous strong project pipeline Zidane Wisting (1bn boe) Rosebank Gudrun Gudrun (Norway): Production start-up in April producing at 7 kboe/d 1 (net to OMV)…
More than 1 bn barrels in the project pipeline New ventures Exploration Appraisal Development Execution Middle East Black Sea Domino (Black Sea) FRDs (Romania) FRDs (Romania) Africa Norway FRDs (Austria, Romania) FRDs (Austria)…
Key project achievements Nawara, Tunisia, OMV (Op, 50%), ETAP (50%) Final Investment Decision taken Gas field development including construction of gas pipeline and treatment plant Line pipe manufacturing completed, ready for…
Major projects under development New ventures Exploration Appraisal Development Execution Production Peak Project Working Project Country Type 2P reserves Operated start production investments interest primary year mn boe kboe/d EUR…
Major projects under appraisal New ventures Exploration Appraisal Development Execution Production Cumulative Working Project Country Type Operated start production interest primary year mn boe % FRD Romania Oil/Gas 2014-2017…
Exploration update and high impact wells 1 Exploration only New Ventures Exploration and production Montenegro bidding round: Government accepted consortium with Marathon Atlantis Seismic North Sea Hanssen/ Apollo 2 Region Wisting…
Production Production impacts in 6m/14 Libya shut-ins Kazakhstan: technical difficulties 311 304 310 1 Yemen: frequent interruptions due to security 288 instability Norway: slower ramp up of production in Gudrun; planned shutdown…
Our path to 400 kboe/d, on track Production kboe/d 2010 318 2011 288 Impacted by 2012 303 political Production 2013 288 unrest 1 Project Country Type 2 FID start Norway FRDs Romania Oil/Gas 2013-2015 Tunisia FRDs Austria…
Refining and Marketing update Manfred Leitner, Executive Board member responsible for R&M OMV Aktiengesellschaft
OMV downstream market grows despite European trend EU-28 market 1 OMV market 1, 2 in mn t 2013-23, mn t 605 107 103 546 +3% -10% Turkey Turkey 2013 2023 2013 2023 1Oil market products: LPG, naphtha, gasoline, jet/kero,…
European refineries will face competitive pressure from other regions; more closures to follow Pressure on Europes oil product market, Further 10% closures in mid-term impacting especially coastal refineries required for refinery margins…
Modernization of upstream integrated refinery Petrobrazi leads to significant yield improvements 2010 2011 2012 2013 2014 2015 Concept, Execution phase Crude distillation Coker upgrade & Vacuum gasoil First full year of…
Divestments of up to EUR 1 bn on track EUR 1.0 bn Divestment program 1 Additional working EUR 0.6 bn capital sales November February March K-PET Marketing business Croatia 45% stake in Marmara terminal (Turkey) 2011 2012…
Borealis contributes strongly to R&M results Borouge 3 is in the start-up phase; full Solid contribution to OMVs bottom line capacity on stream by year end 2014 from Borealis (OMV share 36%) kt p.a. EUR mn 2,400 4,400 1,000 186…
Strong business integration and further increased asset utilization Domestic equity crude % of refining capacity Competition 2013 1 11% OMV 2013 21% OMV 2015 25% Refinery E&P Refining utilization rate 2 Retail sales vol. % of…
R&Ms cash generation improved significantly and supports OMVs integrated business model Cash generation EUR bn EBITD Investment NWC 2.0 1.5 1.0 0.5 0.0 -0.5 2010 2011 2012 2013 6m/14 Note: Cash impact of Bayernoil…
Outlook Gerhard Roiss, Chairman of the Executive Board and CEO OMV Aktiengesellschaft
Outlook 2014 Oil price above USD 100/bbl G&P markets remain highly challenging Refining margins remain under pressure Marketing volumes remain under pressure Production 310 kboe/d 1 CAPEX EUR 3.9 bn (80% E&P) E&A 2…
Strategy Profitable Growth: steps in H2/14 Deliver key growth projects; 80% of CAPEX in E&P in 2014 Gudrun production ramp up (Norway) Maari Growth production start (New Zealand) Growing Continued emphasis on exploration…
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