REG - OMV Petrom S.A. - OMV Petrom Group results for Jan–Sep and Q3 2021

OMV Petrom SAAnnouncement

29/10/2021 07:05

RNS Number : 6984Q
  
OMV Petrom S.A.
  
29 October 2021
  
 

 OMV Petrom S.A.
 
OMV Petrom Group results for January - September and Q3 2021
including interim unaudited condensed consolidated financial statements as of and for the period ended September 30, 2021 
Highlights Q3/21 vs Q3/20
Group
u In Romania, demand for our products broadly recovered to pre-COVID levels 
u Clean CCS Operating Result at RON 1.3 bn, 135% higher, returning to pre-crisis level
u Clean CCS net income attributable to stockholders at RON 1.0 bn, up 112%
u Cash flow from operating activities at RON 2.3 bn, 35% higher 
u CAPEX at RON 0.6 bn, down 24%
u Free cash flow after dividends improved by 67% to RON 1.8 bn
u Clean CCS ROACE at 9.5%, 1 pp higher
u TRIR: 0.54 (Q3/20: 0.37) 
Upstream
u Clean Operating Result at RON 442 mn vs. RON (46) mn in Q3/20, mainly due to higher oil prices 
u Production decreased by 13.1%, mainly due to the divestment of the Kazakhstan production assets in Q2/21, the steep natural decline in the main fields as well as operational maintenance activities 
u Production cost increased by 17% to USD 13.2/boe, mainly driven by lower production available for sale 
Downstream Oil
u Clean CCS Operating Result at RON 781 mn, up 109% reflecting strong refining margins and recovering market demand 
u OMV Petrom indicator refining margin at USD 7.19/bbl, up from USD 0.94 /bbl in Q3/20 on higher product spreads, for both gasoline and middle distillates
u Refinery utilization rate at 100%, compared to 86% in Q3/20, significantly above the European average
u Retail volumes 10% higher, reflecting robust fuel market demand
Downstream Gas
u Clean Operating Result at RON 95 mn, 50% lower yoy, strongly impacted by the result of power forward contracts in an increasing price environment
u Gas sales volumes down by 9%, driven by lower equity production and weaker demand
u Net electrical output at 1.37 TWh, 5% higher, covering 10% of Romanian power production 
Key events
u OMV Petrom made the first LNG delivery - a new step towards expanding the offer of low-emission transport products
u OMV Petrom was included in the FTSE Russell indices starting September 20
 
Please access the link here below to view the full report.
http://www.rns-pdf.londonstockexchange.com/rns/6984Q_1-2021-10-29.pdf

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