REG - OMV Petrom S.A. - OMV Petrom Group results for Jan–Dec and Q4/22

OMV Petrom SAAnnouncement

02/02/2023 07:00

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RNS Number : 7143O  OMV Petrom S.A.  02 February 2023

 

 

 

 

OMV Petrom S.A.

February 2, 2023

 

 

OMV Petrom Group results for January - December and Q4 2022

including preliminary unaudited condensed consolidated financial statements as
of and for the period ended December 31, 2022

 

Highlights Q4/22 vs Q4/21

Group

u Clean CCS Operating Result at RON 2.1 bn, 38% higher, supported by the
higher results in Exploration and Production as well as Refining and
Marketing, partly counterbalanced by lower results in Gas and Power due to the
increased regulation and overtaxation

u Clean CCS net income attributable to stockholders of the parent at RON 1.9
bn, up 60%

u Cash flow from operating activities at RON 1.8 bn, 13% lower

u CAPEX at RON 1.3 bn, up 27%

u Free cash flow after dividends at RON 0.8 bn, 32% lower

u Clean CCS ROACE at 38%, 25 pp higher

u TRIR: 0.21 (Q4/21: 0.60)

u Base dividend proposal for 2022: RON 0.0375/share, up 10% yoy; a special
dividend is also planned to be paid in 2023, with the exact value to be
announced in mid-2023

u In 2022 direct taxes and industry specific contributions increased almost 4
times to a record high of RON 9.7 bn

Exploration and Production

u Clean Operating Result at RON 1,076 mn vs. RON 588 mn in Q4/21, mainly due
to higher oil and gas prices and stronger USD

u Production decreased by 3.4%, mainly due to natural decline partly offset by
the contribution of new wells and workovers

u Production cost increased by 5% to USD 13.4/boe, mainly driven by a one-off
effect and lower production available for sale, partly offset by favorable FX

Refining and Marketing

u Clean CCS Operating Result at RON 861 mn, up 57%, mainly reflecting
favorable refining margins

u OMV Petrom indicator refining margin at USD 18.8/bbl, up 150% on higher
product spreads, mainly for diesel, gasoline and jet

u Refinery utilization rate at 99%, compared to 101% in Q4/21

u Retail sales volumes 7% higher, still on lower margins, mainly due to the
voluntary discount applied in Romania

Gas and Power

u Clean Operating Result at RON 132 mn vs. RON 444 mn in Q4/21; the good
operational performance in both gas and power business lines was severly
impacted by regulatory and fiscal extended scope

u Gas sales volumes up 1.9% driven by sales to customers under supply of last
resort

u Brazi power plant output of 1.5 TWh, with a stable share of 11% in Romania's
generation mix

 

Key events

u The declaration of commercial discovery regarding the Neptun Deep project
was submitted to the National Agency for Mineral Resources; this represents an
intermediate step towards the final investment decision, planned for mid-2023

u OMV Petrom took the final investment decision for a EUR 130 mn new unit of
aromatic products at Petrobrazi refinery

u 275 MyAuchan stores in the upgraded Petrom branded filling stations at year
end

u OMV Petrom successfully completed a 10% land share capital increase. Of the
RON 567 mn total capital increase, RON 446 mn was cash subscription by
shareholders, other than the Romanian state (96.1% subscription rate)

 

 

Please access the link here below to view the full report.

http://www.rns-pdf.londonstockexchange.com/rns/7143O_1-2023-2-2.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/7143O_1-2023-2-2.pdf)

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