REG - OMV Petrom S.A. - OMV Petrom Group Q3/18 results

OMV Petrom SAAnnouncement

31/10/2018 07:00

RNS Number : 8251F
OMV Petrom S.A.
31 October 2018
 


 
 
 
 
OMV Petrom S.A.
Investor News
October 31, 2018, 8:00 am (local time), 7:00 am (CET), 6:00 am (GMT)
 
OMV Petrom Group results for January - September and Q3 2018
including unaudited interim condensed consolidated financial statements as of and for the period ended September 30, 2018
Highlights Q3/18
u Clean CCS Operating Result RON 1.7 bn, up 62% yoy
u Operating cash flow RON 2.4 bn, up 62% yoy
u Clean CCS EPS up 78% yoy
u Clean CCS ROACE at 11.8%
 
In the first nine months of 2018, OMV Petrom benefited from improved commodity prices and higher power demand. Our 9m/18 Clean CCS Operating Result reached RON 3.4 bn, 25% higher yoy, with Upstream being the main contributor. The Downstream Clean CCS Operating Result amounted to RON 1.2 bn with a strong operational performance partially compensating the effects of the refinery turnaround in Q2/18 and the weaker refining margin environment compared to 2017.
Our operating cash flow increased to RON 5.6 bn in 9m/18, mirroring the Clean CCS Operating Result trend. In line with our guidance, we increased investments yoy, almost doubling the number of wells and sidetracks in Upstream, completing the refinery turnaround and advancing other Downstream Oil projects. As a result, our cash outflow for investing activities reached RON 3.1 bn. The 9m/18 free cash flow after dividends amounted to RON 1.3 bn.
In September 2018, we signed the transfer of nine marginal fields to Mazarine Energy, continuing our Upstream portfolio optimization initiatives. 
The offshore law was approved by Parliament. We are currently reviewing the law to understand how it will impact our offshore business. Given the timeframe, we do not see a Neptun Deep final investment decision in Q4/18.    
 




Q3/18


Q2/18


Q3/17


Δ%


Key performance indicators (in RON mn)


9m/18


9m/17


Δ%






1,685


735


1,042


62


Clean CCS Operating Result


3,378


2,701


25




1,681


701


873


93


Operating Result


3,462


2,450


41




1,382


462


778


78


Clean CCS net income attributable to stockholders


2,597


2,054


26




1,379


434


639


116


Net income attributable to stockholders


2,667


1,849


44




0.0244


0.0082


0.0137


78


Clean CCS EPS (RON)


0.0458


0.0363


26




0.0243


0.0077


0.0113


116


EPS (RON)


0.0471


0.0326


44




2,376


1,388


1,470


62


Cash flow from operating activities


5,561


4,446


25




1,217


(637)


959


27


Free cash flow after dividends


1,310


2,002


(35)




 
OMV Petrom will organize a live presentation of the company's results for Q3 2018 on October 31, 2018, starting 14.30hrs (local time) / 13.30hrs (CET) / 12.30hrs (GMT). The presentation will last approximately 20 minutes, followed by a Q&A session, and will be hosted by Christina Verchere (CEO & President of the Executive Board) and Stefan Waldner (CFO & Member of the Executive Board).
 
The presentation will be held in English and will be broadcasted through a live audio webcast, which can be accessed from the company's website, www.omvpetrom.com, section Investors › Publications › Quarterly Results.  
 
Please access the link here below to view the full report.
 
http://www.rns-pdf.londonstockexchange.com/rns/8251F_1-2018-10-31.pdf 




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