Omv Ag Stock Earnings Reports

OMV reported a strong Q3 2025 driven by exceptionally high refining margins and solid integration across Energy, Fuels and Chemicals. Clean CCS operating result rose to ~EUR 1.3bn (+~20% y/y and q/q); clean CCS EPS was EUR 1.82. Fuels more than doubled its result (refining indicator margin $11.5/bbl, utilization 91%) and ADNOC/Global Trading contributed strongly. Energy (E&P) clean CCS fell 11% to EUR 622m due to lower oil prices, FX headwinds and prior-year asset divestments; production was ~304k BOE/d (‑8% y/y) with Libya ramping to ~40k BOE/d. Chemicals improved to EUR 222m, helped by stopping Borealis depreciation and higher olefin margins, but European polyolefins face import pressure and weaker demand. Cash flow from operations was ~EUR 1.1bn in Q3 (operating cash flow ex-NWC ~EUR 1.5bn); 9M operating cash flow EUR 3.5bn (‑20% y/y) largely due to net working capital swings. Balance sheet remains strong (leverage ~16%); EUR 750m hybrid was redeemed in Q3; cash ~EUR 4.6bn plus EUR 4.2bn undrawn facilities. Management upgraded the full-year refining indicator margin outlook to above $9/bbl and expects refinery utilization at the upper end of 85–90%. Full-year Brent assumption remains ~$70/bbl; THE gas price expected slightly below EUR 40/MWh with realized gas toward the low end of EUR 30–35/MWh. Borealis/Borouge (BGI/PGI) transactions are progressing and management expects to close related PGI transactions in Q1 next year; a cash payment up to ~EUR 1.6bn will be made at closing. OMV reiterated its 2030 ambition to grow integrated Energy & Chemicals (targeting ~400k BOE/d E&P by 2030 with inorganic M&A under review), while flagging near-term chemical headwinds (Q4 lower cracker runs and seasonal weaker polyolefin margins).