OMV 3Q Performance Boosted by Higher Prices -- Update
28 Ottobre 2022 - 8:34AM
Dow Jones News
By Giulia Petroni
Austrian oil-and-gas major OMV AG reported a jump in profit and
sales in the third quarter as performance was boosted by
significantly higher prices, and said it will propose a special
dividend for the full year.
Net profit in the quarter came in at 833 million euros ($830.1
million), compared with EUR279 million a year earlier, the company
said Friday. Adjusted net profit was EUR1.21 billion.
Total hydrocarbon production fell to 381,000 barrels of oil
equivalent a day from 470,000 boe/d a year earlier, mainly due to
the change in the consolidation method of Russian operations. The
company confirmed it expects production at 390,000 boe/d in the
full year.
Sales doubled to EUR17.17 billion from EUR8.51 billion, it
said.
In regard to Russia, OMV said it purchased an average of 2.5
terawatt hours a month of natural gas under long-term supply
agreements with Gazprom PJSC in Germany and Austria in the quarter,
and continuously experienced curtailments of volumes. This required
buying replacement volumes on the market, resulting in a negative
financial impact for the company.
"The uncertainty regarding future curtailments remains and could
result in further losses," OMV said. "In the event of further or
even full gas supply disruptions from Russia, OMV can use gas in
storage to supply customers and has access to other liquid gas
market hubs in Europe."
For the full year, OMV said it expects the average Brent
crude-oil price to be above $100 a barrel and the average realized
gas price in the range of between EUR55 and EUR60 a megawatt-hour.
Organic capital expenditure is projected at around EUR3.7
billion.
Late Thursday, OMV said it will propose a special dividend of
EUR2.25 a share for 2022, which will be distributed in addition to
and at the same time as the regular dividend. The company said it
also aims to amend the existing dividend policy so that special
dividends can be considered in the future.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 28, 2022 02:19 ET (06:19 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Grafico Azioni Omv Ag Bearer (PK) (USOTC:OMVKY)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Omv Ag Bearer (PK) (USOTC:OMVKY)
Storico
Da Dic 2023 a Dic 2024