REG - OMV Petrom S.A. - Q4/16 and 2016 preliminary results <Origin Href="QuoteRef">ROSNP.BX</Origin>

OMV Petrom SAAnnouncement

16/02/2017 07:06

RNS Number : 0476X
OMV Petrom S.A.
16 February 2017
OMV Petrom Group: results for Q4 and January - December 2016
Highlights Q4/16
u Free cash flow at RON 432 mn on the back of lower investments and excellent operational performance 
u Clean CCS EBIT at RON 454 mn, with yoy improved contributions from all business segments
u OMV Petrom GDRs traded on the London Stock Exchange since October 2016
Highlights 2016
u Free cash flow at RON 1.6 bn, due to investment prioritization and strict cost discipline 
u Clean CCS EBIT at RON 1.7 bn, of which 2/3 from Downstream
u Executive Board proposes a dividend per share of RON 0.015, subject to approvals of Supervisory Board and General Meeting of Shareholders
Mariana Gheorghe, CEO of OMV Petrom S.A.:
"In 2016, the market environment remained volatile and challenging, which translated into a decrease of Clean CCS EBIT, offsetting the benefits of our continued cost discipline. Cost savings of around RON 500 mn were achieved at Group level. In Upstream, we further reduced production costs, which more than compensated for the production decline impact, but could not fully offset the lower prices effect. Despite further reduced CAPEX, we managed to limit daily production decline to only 2.5% yoy, well below the upper limit of our guidance. The Downstream clean CCS EBIT decreased by 4% yoy, on declining Downstream Oil segment result, partly offset by improved result of the Downstream Gas segment. However, Downstream contribution in Group results was significantly higher vs. 2015, showing the benefits of our integrated business model. 
Based on the preliminary results and strong free cash flow achieved in 2016, the Executive Boardproposes a dividend of RON 0.015/share for the 2016 financial year. The final dividend proposal to be submitted to the approval of April 2017 General Meeting of Shareholders will be subject to the approval of the Supervisory Board." 
Q3/16
Q4/16
Q4/15
%
Key performance indicators (in RON mn)
2016
2015
%
573
335
(1,844)
n.m.
EBIT
1,469
(530)
n.m.
602
454
211
115
Clean CCS EBIT
1,694
2,522
(33)
473
162
(1,675)
n.m.
Net income / (loss) attributable to stockholders
1,043
(676)
n.m.
442
263
68
287
Clean CCS net income attributable to stockholders
1,162
1,801
(36)
0.0084
0.0029
(0.0296)
n.m.
EPS (RON)
0.0184
(0.0119)
n.m.
0.0078
0.0046
0.0012
287
Clean CCS EPS (RON)
0.0205
0.0318
(36)
1,613
1,070
1,104
(3)
Cash flow from operating activities 
4,454
5,283
(16)
1,115
432
32
n.m.
Free cash flow after dividends
1,558
(301)
n.m.
-
-
-
n.a.
Dividend/share (RON)
0.015
-
n.m.
The full Q4 and January - December report is available on company's website at: 
http://www.omvpetrom.com/portal/01/petromcom/petromcom/OMV_Petrom/Investor_Relations/Investor_Reports_and_Presentations/Interim_Reports
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/0476X_-2017-2-16.pdf

This information is provided by RNS
The company news service from the London Stock Exchange
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