OMV Q2 Earnings Overview
OMV announced that its second‑quarter core profit surged by 65% to €1.71 billion, exceeding the €1.66 billion median analyst forecast and falling within the consensus range of €1.37 billion to €2.10 billion. The clean CCS operating result for the Chemicals segment reached €429 million, beating the €349 million median estimate by the widest margin among the three business segments and staying inside the €115 million‑to‑€524 million guidance range. This uplift was driven by substantial increases in olefin and polyolefin prices and a strong contribution from Borouge International following the successful closing of that transaction.
The Fuels segment delivered a clean CCS operating result of €446 million, surpassing the €427 million median forecast and residing within the €294 million‑to‑€568 million range. OMV attributed this performance to markedly stronger refining indicator margins, a more favourable production mix, higher refinery utilisation, and an improved trading result. The Energy division posted a clean operating result of €885 million, ahead of the €874 million median forecast and within the €815 million‑to‑€1.25 billion consensus band.
Hydrocarbon production declined 4% to 291 thousand barrels of oil equivalent per day, primarily due to reduced output linked to the Middle‑East conflict. Net income attributable to OMV shareholders on a clean CCS basis amounted to €929 million, beating the €820 million median forecast and fitting within the €630 million‑to‑€1.14 billion range.
Cash‑flow metrics fell short of median expectations but remained inside the consensus ranges. Cash flow from operating activities excluding net working‑capital effects was €1.16 billion, below the €1.24 billion median forecast yet within the €993 million‑to‑€1.72 billion band. The shortfall reflected higher commodity prices and stronger refining margins offset by the loss of Borealis Group’s cash‑flow contribution after its deconsolidation and lower dividend receipts. Total cash flow from operating activities stood at €1.32 billion, marginally under the €1.33 billion median forecast and within the €1.16 billion‑to‑€1.62 billion range.
Overall, the quarter was characterised by robust segment‑level earnings driven by price gains and the Borouge contribution, while production volumes fell modestly and cash‑flow generation was slightly below analyst expectations.