REG - OMV Petrom S.A. - Results for January-September and Q3 2020

OMV Petrom SAAnnouncement

29/10/2020 07:00

RNS Number : 5925D
  
OMV Petrom S.A.
  
29 October 2020
  
 

OMV Petrom S.A.
29 October 2020
 
OMV Petrom Group results for January - September and Q3 2020 
including unaudited interim condensed consolidated financial statements as of and for the period ended September 30, 2020
 
Highlights Q3/20 vs Q3/19
Group
uResults supported by demand recovery from the COVID-19 crisis lows and enhanced by vertical integration 
uClean CCS Operating Result at RON 0.6 bn, 54% lower 
uClean CCS net income attributable to stockholders at RON 0.5 bn, down 54% 
uCash flow from operating activities at RON 1.7 bn, 18% lower  
uCAPEX at RON 0.8 bn, down 24% 
uFree cash flow after dividends at RON 1.1 bn, 23% lower
uClean CCS ROACE at 8.4%, 6 pp lower
uLTIR: 0.19 (Q3/19: 0.40)
Upstream
uClean Operating Result at RON (46) mn vs. RON 546 mn in Q3/19, mainly due to lower oil and gas prices
uProduction decline at 6%, reflecting natural decline and planned maintenance activities
uOPEX up 8% to USD 11.2/boe, on lower production available for sale and unfavorable FX 
Downstream Oil
uClean CCS Operating Result at RON 373 mn, 36% lower, on declining refining margins, partly counterbalanced by good performance of the sales channels in the context of the pandemic crisis 
uOMV Petrom indicator refining margin at USD 0.94/bbl, down by 85% 
uRefinery utilization rate at 86%, reflecting the planned shutdown in July 
uRetail volumes lower by only 3%, reflecting recovering demand 
Downstream Gas
uClean Operating Result at RON 190 mn, more than 3 times higher, driven by the excellent power business performance 
uNet electrical output 30% higher at 1.31 TWh, supported by positive spark spreads 
uGas sales volumes dropped 9%, on lower quantities sold to wholesalers
 
Key events
uOMV Petrom completed the acquisition of Han Asparuh offshore Bulgaria interest  
uOMV Petrom and Auchan Retail Romania announced the agreement to extend their partnership. Approximately 400 MyAuchan proximity stores will be opened in the Petrom-branded filling stations network in Romania, in the next five years
uOMV Petrom and Enel X partnered to install 10 fast recharging stations for electric cars in filling stations in Romania 
uOMV Petrom recorded net impairments of RON 399 mn before tax, triggered by revision of mid- and long-term price assumptions
uOMV Petrom's Supervisory Board appointed Mr. Christopher Veit as new Executive Board member responsible for Upstream 
  
 
Please access the link here below to view the full report.
http://www.rns-pdf.londonstockexchange.com/rns/5925D_1-2020-10-29.pdf
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
  END
 
 
QRTGUBDGRSDDGGC