OMV inspires sales with 34 billion euros despite challenges!

The OMV achieved a gratifying result in 2024 despite the sunken raw material prices, but not without challenges. The group recorded sales of 34 billion euros, which corresponds to a decrease of 14 percent compared to the previous year. CEO Alfred Stern summed up that with this result the fourth best year in the history of the company was achieved, even if it is below the record numbers of the past few years. The Brent Rohöl Prize fell by 2 percent to an average of $ 85 per barrel, while the wholesale prices for gas were reduced by 16 percent to an average of 35 euros per megawatt hour, as krone.at reported.

In the third quarter of 2024, sales were even 9 percent lower than in the previous year. The profit attributable to shareholders fell by alarming 49 percent to just 241 million euros. These declines are mainly due to sunken prices for oil and gas and production failures in Libya. The cash flow from the business activity was a quarter lower with 1.391 billion euros compared to the previous year, such as finanzen.at has.

dividend and investment plans

The AYV is planning a dividend of 4.75 euros per share for 2024 and signals that investments of 3.6 billion euros are provided. In perspective, the overall production of oil and gas should be around 300,000 barrels per day. OMV pursues ambitusion projects, including gas production in the newly discovered field in Wittau, which is to be increased by 50 percent. In addition, holes are imminent in the Neptune Deep gas project in the Romanian Black Sea, where the reserves are estimated at 100 billion cubic meters, which could make a significant contribution to the energy supply of the EU.