REG - OMV Petrom S.A. - Results for January – March 2022

OMV Petrom SAAnnouncement

29/04/2022 07:00

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RNS Number : 8386J  OMV Petrom S.A.  29 April 2022

OMV Petrom S.A.

 

 

OMV Petrom Group results for January - March 2022

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

Highlights Q1/22 vs Q1/21

Group

u Clean CCS Operating Result at RON 2.2 bn, 243% higher, in the context of
unprecedentedly high and volatile commodity prices impacted by the
Russia-Ukraine war and post COVID recovery

u Clean CCS net income attributable to stockholders at RON 1.8 bn, up 244%

u Cash flow from operating activities at RON 2.6 bn, 129% higher

u CAPEX at RON 0.6 bn, up 10%

u Free cash flow after dividends increased by 351% to RON 1.9 bn

u Record high dividends of RON 1.9 bn for FY 2021 to be paid starting June 6

u Clean CCS ROACE at 17.8%, 12 pp higher

u TRIR: 0.33 (Q1/21: 0.44)

Exploration and Production

u Clean Operating Result at RON 1,106 mn vs. RON 311 mn in Q1/21 due to higher
oil and gas prices

u Production decreased by- 12.7%, mainly due to divestments and high natural
decline in the main fields

u Production cost increased by 13% to USD 14.2/boe, mainly driven by lower
production and higher electricity costs, partly compensated by positive FX
effects

Refining and Marketing

u Clean CCS Operating Result at RON 626 mn, up 103% reflecting exceptional
refining margin environment, higher utilization of the refinery and robust
demand

u OMV Petrom indicator refining margin at USD 18.31/bbl, up 553% as a result
of higher product spreads, mainly for diesel and gasoline

u Refinery utilization rate at 98%, compared to 95% in Q1/21

u Retail volumes 9% higher, however margins were lower

Gas and Power

u Clean Operating Result at RON 727 mn, 301% higher, mainly due to strong gas
margins from storage and 3rd party transactions

u Gas sales volumes down by 11%, mainly on lower supply

u Net electrical output of 0.99 TWh, 16% lower, as Brazi power plant was in
planned outage with the entire capacity in March 2022

Key events

u OMV Petrom has completed the first photovoltaic park that supplies green
energy for its own operations

u In January, Fondul Proprietatea's holding in OMV Petrom reduced to 2.98%
following the sale of a 4% stake via an Accelerated Book Building

u OMV Petrom joins the efforts of the civil society and authorities in Romania
to support refugees from Ukraine in cooperation with UNICEF and the Romanian
Red Cross

 

 

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

http://www.rns-pdf.londonstockexchange.com/rns/8386J_1-2022-4-29.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/8386J_1-2022-4-29.pdf)

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