OMV reported its Q2 16 with a clean EBIT slightly below expectations and clean net income of €222m, down by 39% yoy but 30% above the consensus. The upstream division came in with a result of zero, compared to a loss of €97m, meaning that a barrel of $45/bbl is needed for break-even. On the downstream, OMV is one of the only few companies that was able to increase its EBIT compared to Q1 at €250m. Thanks to a positive working capital, the group was able to fund its capex and di
10 Aug 2016
First view: Positive news despite mixed results
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First view: Positive news despite mixed results
OMV AG (OMV:WBO) | 0 0 1.2% | Mkt Cap: 15,591m
- Published:
10 Aug 2016 -
Author:
Alexandre Andlauer -
Pages:
2
OMV reported its Q2 16 with a clean EBIT slightly below expectations and clean net income of €222m, down by 39% yoy but 30% above the consensus. The upstream division came in with a result of zero, compared to a loss of €97m, meaning that a barrel of $45/bbl is needed for break-even. On the downstream, OMV is one of the only few companies that was able to increase its EBIT compared to Q1 at €250m. Thanks to a positive working capital, the group was able to fund its capex and di