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| January 22, 2022 |
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Market News


Q3 2021 report

Release Date: 10/29/2021 8:00:17 AM

IRIS Code: B3776

OMV Petrom Group results for January – September and Q3 2021

including interim unaudited condensed consolidated financial statements as of and for the period ended September 30, 2021


Highlights Q3/21 vs Q3/20


u  In Romania, demand for our products broadly recovered to pre-COVID levels

u  Clean CCS Operating Result at RON 1.3 bn, 135% higher, returning to pre-crisis level

u  Clean CCS net income attributable to stockholders at RON 1.0 bn, up 112%

u  Cash flow from operating activities at RON 2.3 bn, 35% higher

u  CAPEX at RON 0.6 bn, down 24%

u  Free cash flow after dividends improved by 67% to RON 1.8 bn

u  Clean CCS ROACE at 9.5%, 1 pp higher

u  TRIR: 0.54 (Q3/20: 0.37)


u  Clean Operating Result at RON 442 mn vs. RON (46) mn in Q3/20, mainly due to higher oil prices

u  Production decreased by 13.1%, mainly due to the divestment of the Kazakhstan production assets in Q2/21, the steep natural decline in the main fields as well as operational maintenance activities

u  Production cost increased by 17% to USD 13.2/boe, mainly driven by lower production available for sale

Downstream Oil

u  Clean CCS Operating Result at RON 781 mn, up 109% reflecting strong refining margins and recovering market demand

u  OMV Petrom indicator refining margin at USD 7.19/bbl, up from USD 0.94 /bbl in Q3/20 on higher product spreads, for both gasoline and middle distillates

u  Refinery utilization rate at 100%, compared to 86% in Q3/20, significantly above the European average

u  Retail volumes 10% higher, reflecting robust fuel market demand

Downstream Gas

u  Clean Operating Result at RON 95 mn, 50% lower yoy, strongly impacted by the result of power forward contracts in an increasing price environment

u  Gas sales volumes down by 9%, driven by lower equity production and weaker demand

u  Net electrical output at 1.37 TWh, 5% higher, covering 10% of Romanian power production

Key events

u  OMV Petrom made the first LNG delivery – a new step towards expanding the offer of low-emission transport products

u  OMV Petrom was included in the FTSE Russell indices starting September 20


 Please access the link here below to view the full report.



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