- Archive number: MEDIA106322
- Title: OMV Results: January - December 2018 (Highlights & KPIs)
- Caption: OMV achieved a new record operating result of over 3.6 billion Euros.
Our financial performance in Upstream increased by 66% in 2018 mainly due to a higher realized oil price, increased production & lower production costs.
Oil and gas production rose to a new record high. This was primarily due to the contribution in Russia.
At the same time we were able to further reduce production costs.
The financial result in Downstream showed a solid performance despite the divestment of OMV Petrol Ofisi. The result was driven by a very good retail performance, higher gas prices and an improved petrochemicals market environment. While the Downstream refinery margins decreased year-on-year in 2018, total refined product sales increased to 20.3 mn tonnes. Despite record dividends and major acquisitions in New Zealand and Abu Dhabi in 2018, free cash flow after dividends and acquisitions remained strong and positive.
OMV is committed to delivering an attractive and predictable shareholder return. For 2018 the board will propose a new record dividend of 1.75 Euros to the Annual General Meeting.
OMV has embarked on the New Year with a strong balance sheet.
- Duration: 00:05:08.117
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