Good results, above consensus, despite the deconsolidation of Russia and low refining throughput. A positive surprise was Gas & Power Eastern Europe, with an adj. EBIT of €167m vs €14m last year, thanks to high gas and power prices (Romania).
In Exploration & Production, adj. EBIT of €2bn, 70% of OMV’s results, -9% qoq, due to lower production (-25% qoq, 345 kboed), as Russia is now out and offset by higher realization prices (oil +18% qoq, gas +49% qoq).
28 Jul 2022
Q2: quarterly growth despite headwinds
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Q2: quarterly growth despite headwinds
Good results, above consensus, despite the deconsolidation of Russia and low refining throughput. A positive surprise was Gas & Power Eastern Europe, with an adj. EBIT of €167m vs €14m last year, thanks to high gas and power prices (Romania).
In Exploration & Production, adj. EBIT of €2bn, 70% of OMV’s results, -9% qoq, due to lower production (-25% qoq, 345 kboed), as Russia is now out and offset by higher realization prices (oil +18% qoq, gas +49% qoq).