REG - OMV Petrom S.A. - Results for January – December and Q4 2021

OMV Petrom SAAnnouncement

03/02/2022 07:05

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RNS Number : 5841A  OMV Petrom S.A.  03 February 2022

OMV Petrom S.A.

February 3, 2022

 

OMV Petrom Group results for January - December and Q4 2021

including preliminary unaudited condensed consolidated financial statements as
of and for the period ended December 31, 2021

 

Highlights Q4/21 vs Q4/20

Group

u In Romania demand for our products broadly recovered to pre-COVID levels

u Clean CCS Operating Result at RON 1.5 bn, 222% higher

u Clean CCS net income attributable to stockholders at RON 1.2 bn, up 203%

u Cash flow from operating activities at RON 2.0 bn, 62% higher

u CAPEX at RON 1.0 bn, up 21%

u Free cash flow after dividends improved by 78% to RON 1.2 bn

u Clean CCS ROACE at 12.7%, 6 pp higher

u Base dividend proposal for 2021: RON 0.0341/share, up 10% yoy

u Record high contributions paid to the State budget of RON 12.3 bn in 2021

u TRIR: 0.60 (Q4/20: 0.38)

Upstream

u Clean Operating Result at RON 588 mn vs. RON 26 mn in Q4/20 due to higher
oil prices

u Production decreased by 12.8%, mainly due to the divestment of production
assets from Kazakhstan in Q2/21 and high natural decline in the main fields

u Production cost increased by 12% to USD 12.8/boe, mainly driven by lower
production available for sale

Downstream Oil

u Clean CCS Operating Result at RON 550 mn, up 100% reflecting favorable
refining margins environment and strong demand

u OMV Petrom indicator refining margin at USD 7.52/bbl, up 277% on higher
product spreads, mainly for gasoline and diesel

u Refinery utilization rate at 101%, compared to 96% in Q4/20

u Retail volumes 8% higher, reflecting robust fuels demand

Downstream Gas

u Clean Operating Result at RON 444 mn, 93% higher, on excellent power
business performance

u Gas sales volumes down by 7%, mainly on lower equity gas

u Record high net electrical output of 1.55 TWh, 32% higher, in the context
of excellent availability and utilization of Brazi power plant as well as
supportive spark spreads

Key events

u On December 7, OMV Petrom announced its Strategy 2030: Transforming for a
lower carbon future, as well as a stronger commitment for a 5%-10% annual
increase of the base dividend

u OMV Petrom closed the transfer of 40 marginal onshore oil and gas fields to
Dacian Petroleum

u OMV Petrom announced new partnerships with charge&GO and Renovatio for
electric mobility in Serbia and Moldova

 

 

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