OMV 2024: Default decline despite a strong cash flow and solid balance!

OMV 2024: Default decline despite a strong cash flow and solid balance!

The OMV had a turnover of impressive 34 billion euros in the 2024 financial year, although the operational result stagnated from special effects at 5.1 billion euros. The strong cash flow from the business activity according to Net-working capital effects rose by 14 percent and reached around 5.3 billion euros, which underlines the company's financial support. CEO Alfred Stern rates this positive development as an important progress in a demanding market environment, especially after the termination of the long -term gas supply contract with Gazprom Export, where OMV now no longer maintains business relationships with Russia. According to apaotot , the last contract with Gazprom has been terminated due to fundamental breaches

segment results and challenges

The respective business areas experienced different developments: While the SEMENT Chemicals recorded positive growth with an operational result of 459 million euros thanks to an improved market environment and a higher contribution of Borealis, the Fuels & Feedstock segment fought with sunken refinery reference margins and recorded a result of 927 million euros. The energy segment was also affected by sunken natural gas and oil prices and achieved 3.8 billion euros. OMV is determined to continue your dispositive course for transformation and to promote the diversification of your gas supply sources, as is the omv Group report describes.

Compared to the first nine months of 2023, in which OMV achieved a CCS surgical result of special effects of 4.6 billion euros, the results are normalized, which was primarily influenced by declining raw material prices and weaker demand in the chemical sector. Nevertheless, the cash flow remains stable and supports the company's growth projects. The strategic orientation remains unchanged, with the clear goal of reaching net zero emissions by 2050 and taking a key role in the circular economy.