OMV Petrom S.A.

Earnings Release • May 3, 2018

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 9620M

OMV Petrom S.A.

03 May 2018

OMV Petrom Group: results1 for January -  March 2018

including unaudited interim condensed consolidated financial statements as of and for the period ended March 31, 2018

Highlights Q1/18

u Clean CCS Operating Result at RON 958 mn, up 25% yoy

u EPS at RON 0.0151, 38% higher yoy

u Free cash flow at RON 729 mn, up 13% yoy 

u Clean CCS ROACE at 10.5%

The Q1/18 Clean CCS Operating Result increased to RON 958 mn, with Upstream contributing around two thirds of the total. Upstream benefitted from higher realized oil and gas prices, fully offsetting the production decline and the negative foreign exchange effects. The Downstream Oil Clean CCS Operating Result declined by 13% yoy due to a decrease of around USD 1/bbl of the refining margin, partly offset by higher retail sales. The Downstream Gas Clean Operating Result more than doubled yoy, mainly driven by improved power business. 

All the above translated into an operating cash flow of RON 1.8 bn in Q1/18, 42% higher yoy. During the quarter, we made investments of RON 843 mn, 139% up yoy. The CAPEX increase was mainly driven by a high level of drilling activity and preparations related to the planned refinery turnaround.

Q1/18	Q4/17	Q1/17	Δ%2	Key performance indicators (in RON mn)	2017
958	573	767	25	Clean CCS Operating Result 3	3,273
1,080	820	798	35	Operating Result	3,270
752	434	586	28	Clean CCS net income attributable to stockholders  3,4,5	2,488
854	642	619	38	Net income attributable to stockholders 4	2,491
0.0133	0.0077	0.0103	28	Clean CCS EPS (RON) 3,4,5	0.0439
0.0151	0.0113	0.0109	38	Earnings Per Share (RON) 4	0.0440
1,796	1,508	1,262	42	Cash flow from operating activities	5,954
729	664	646	13	Free cash flow after dividends	2,666
-	-	-	n.a.	Dividend/share (RON)	0.020

1 The financials are unaudited and represent OMV Petrom Group's (herein after also referred to as "the Group") consolidated results prepared according to IFRS; all the figures refer to OMV Petrom Group, unless otherwise stated; financials are expressed in RON mn and rounded to the closest integer value, so minor differences may result upon reconciliation; OMV Petrom uses the National Bank of Romania exchange rates for its consolidation process;

2 Q1/18 vs. Q1/17;

3 Adjusted for exceptional, non-recurring items; Clean CCS (current cost of supply) figures exclude special items and inventory holding effects (CCS effects) resulting from Downstream Oil; special items include temporary effects from commodity hedging (in order to mitigate Income Statement volatility);

4 After deducting net result attributable to non-controlling interests;

5 Excludes additional special income from a legal dispute reflected in the financial result.

OMV Petrom will organize a live presentation of the Q1 2018 results on May 3, 2018, starting 3.00pm (local time) / 2.00pm (CEST) / 1.00pm (BST). The presentation will last approximately 20 minutes, followed by a Q&A session, and will be hosted by Stefan Waldner (Chief Financial Officer and Member of the Executive Board).

The presentation will be held in English and will be broadcasted through a live audio webcast, which can be accessed from the company's website, www.omvpetrom.com, section Investor Relations › Financial calendar and events › Quarterly publications.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/9620M_-2018-5-3.pdf

This information is provided by RNS

The company news service from the London Stock Exchange

END

QRFLIFESEEIVIIT