The Austrian energy group OMV reported stable revenues of EUR 2025 billion for the first quarter of 6,2. The CCS Operating Result before special items amounted to EUR 1,16 billion, with lower results from the Fuels & Feedstock and Energy business units compared to the previous year, while the contribution from the Chemicals business unit remained stable. Cash flow from operating activities was a solid EUR 1,36 billion. Despite a challenging market environment and the geopolitical situation, the company's balance sheet remains strong, with a low leverage ratio of 12 percent.
In detail, the Chemicals division reported a stable operating result before exceptional items of EUR 126 million. A weaker base chemicals business and a lower contribution from Borealis' polyolefins business had a negative impact, but were partially offset by improved olefin margins and higher sales volumes. The Fuels & Feedstock division recorded a decline in operating result to EUR 117 million, mainly due to lower refining margins and a lower contribution from affiliated companies. The Energy division achieved an operating result of EUR 910 million, with an improved performance in oil and gas production offsetting the weaker contribution from Gas Marketing & Power, which was impacted by a legislative change in Romania.
OMV is continuing to advance its Strategy 2030. A significant step is the planned merger of the shares in Borealis and Borouge with ADNOC to form Borouge Group International, which is expected to become the fourth-largest polyolefin company in the world. There was also progress at the Neptun Deep project in the Black Sea, where gas production is expected to begin in 2027. In the area of chemical recycling, OMV commissioned a new ReOil plant in Schwechat and secured EU funding for a large-scale facility. There were also developments in the area of renewable energies, with further wells being successfully completed at the geothermal project in Vienna.
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