DOCSLIB.ORG

Omv Annual Report 2019 / Statement of the Chairman of the Executive Board

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Omv Annual Report 2019 / Statement of the Chairman of the Executive Board 20,000 reasons why we’re excited about tomorrow. Annual Report 2019 OMV Aktiengesellschaft Trabrennstraße 6–8 1020 Vienna Austria Tel. + 43 1 40440-0 www.omv.com www.omv.com/socialmedia Annual Report 2019 At a Glance Five-year summary 2019 2018 2017 2016 2015 Sales revenues 1 in EUR mn 23,461 22,930 20,222 19,260 22,527 Operating Result in EUR mn 3,582 3,524 1,732 (32) (1,661) Profit before tax in EUR mn 3,453 3,298 1,486 (230) (1,909) Taxes on income and profit in EUR mn (1,306) (1,305) (634) 47 654 Net income for the year in EUR mn 2,147 1,993 853 (183) (1,255) Net income attributable to stockholders of the parent in EUR mn 1,678 1,438 435 (403) (1,100) Clean CCS Operating Result 2 in EUR mn 3,536 3,646 2,958 1,535 1,737 Clean CCS net income 2 in EUR mn 2,121 2,108 2,035 1,230 1,355 Clean CCS net income attributable to stockholders of the parent 2 in EUR mn 1,624 1,594 1,624 995 1,148 Balance sheet total in EUR mn 40,375 36,961 31,576 32,112 32,664 Equity in EUR mn 16,863 15,342 14,334 13,925 14,298 Net debt in EUR mn 4,686 2,014 2,005 2,969 4,038 Average capital employed in EUR mn 19,923 16,850 15,550 17,943 19,972 Cash flow from operating activities in EUR mn 4,056 4,396 3,448 2,878 2,834 Capital expenditure in EUR mn 4,916 3,676 3,376 1,878 2,769 Organic capital expenditure 3 in EUR mn 2,251 1,893 1,636 1,868 2,749 Free cash flow in EUR mn (583) 1,043 1,681 1,081 (39) Free cash flow after dividends in EUR mn (1,441) 263 1,013 615 (569) Net Operating Profit After Tax (NOPAT) in EUR mn 2,230 2,097 987 (88) (1,119) Clean CCS NOPAT 2 in EUR mn 2,204 2,196 2,169 1,325 1,522 Return On Average Capital Employed (ROACE) in % 11 12 6 0 (6) Clean CCS ROACE 2 in % 11 13 14 7 8 Return On Equity (ROE) in % 13 14 6 (1) (9) Equity ratio in % 42 42 45 43 44 Gearing ratio in % 28 13 14 21 28 Earnings Per Share (EPS) in EUR 5.14 4.40 1.33 (1.24) (3.37) Clean CCS EPS 2 in EUR 4.97 4.88 4.97 3.05 3.52 Cash flow per share 4 in EUR 12.41 13.45 10.56 8.82 8.68 Dividend Per Share (DPS) 5 in EUR 2.00 1.75 1.50 1.20 1.00 Payout ratio in % 39 40 113 n.m. n.m. Employees as of December 31 19,845 20,231 20,721 22,544 24,124 Production cost 6 in USD/boe 6.61 7.01 8.79 10.58 13.24 Production in kboe/d 487 427 348 311 303 Proved reserves in mn boe 1,332 1,270 1,146 1,030 1,028 Total refined product sales in mn t 21 20 24 31 30 Natural gas sales volumes in TWh 137 114 113 109 110 Lost-Time Injury Rate (LTIR) in mn hours worked 0.34 0.30 0.34 0.40 0.27 1 Sales excluding petroleum excise tax 2 Adjusted for special items. Clean CCS figures exclude inventory holding gains/losses (CCS effects) resulting from the fuels of refineries and OMV Petrol Ofisi. 3 Organic capital expenditure is defined as capital expenditure including capitalized Exploration and Appraisal expenditure excluding acquisitions and contin- gent considerations. 4 Cash flow from operating activities 5 2019: as proposed by the Executive Board and confirmed by the Supervisory Board, subject to confirmation by the Annual General Meeting 2020 6 In 2016, the reported production cost was USD 11.59/boe; effective January 1, 2017, production cost excludes administrative expenses and selling and distribu- tion costs; the 2016 production cost figure of USD 10.58/boe presented in the table has been calculated based on the new definition for future comparability. Fields of Activity Upstream OMV Upstream explores for and produces oil and gas in its five core regions of Central and Eastern Europe, the Middle East and Africa, the North Sea, Russia, and Asia-Pacific. In 2019, daily production was 487 kboe/d (equal to 177.9 mn boe). While gas output accounted for 57% of total produc- tion, oil and NGL flows made up 43%. At year-end 2019, proven reserves amounted to 1.33 bn boe. Central and Middle East North Sea Russia Asia-Pacific Eastern Europe and Africa Austria Kurdistan Region of Iraq Norway Australia Bulgaria Libya Malaysia1 Kazakhstan Tunisia New Zealand Romania United Arab Emirates Yemen Annual production per country in 2019 In kboe/d Norway 87 Russia Kazakhstan 100 6 Romania 145 Austria 24 Bulgaria Exploration only Kurdistan Tunisia Region of Iraq 4 9 United Arab Emirates 22 Libya 30 Australia Yemen Exploration only 5 Malaysia1 New Zealand 13 42 1 On January 31, 2019, OMV acquired a 50% interest in SapuraOMV Upstream Sdn. Bhd. In addition to the Malaysian footprint, SapuraOMV Upstream has exploration assets in New Zealand, Australia, and Mexico. Downstream Downstream Oil (incl. Petrochemicals) operates three refineries in Austria, Germany, and Romania, and holds a 15% share in ADNOC Refining and Trading JV. In 2019, the processing capacity amounted to 24.9 mn t (equaling more than 500 kbbl/d). Furthermore, OMV operates an international multibrand filling ACTIVITY OF FIELDS station retail network and a high-quality commercial business. Downstream Gas operates across the gas value chain from the wellhead to the burner tip with a fully integrated gas business.1 It includes the Group’s power business activities, with one gas- fired power plant in Romania. Downstream Downstream Oil market Downstream Gas market Oil & Gas market Austria Bulgaria Belgium Germany Czech Republic Netherlands Hungary Moldova Turkey Romania Serbia Slovakia Slovenia United Arab Emirates Downstream presence in 2019 140 94 199 556 81 300 428 121 62 94 OMV Number of fill- Equity Gas Gas Gas-fired LNG refineries ing stations gas storage pipelines power plant terminal 1 OMV’s gas business is operated in strict adherence to the applicable gas unbundling rules. 20,000 reasons why we’re excited about tomorrow. The thing that makes OMV stand out across continents and oceans is best illustrated by the 20,000 people who drove the company’s success in 2019. And each and every one of them has a personal reason for being excited about a bright future. People who work in many corners of the globe, sometimes in the most difficult conditions, to search for precious resources, find, transport and refine them. Whose dedication and ideas maintain our quality of life and freedom of movement, day in, day out. Who work on solutions that will give us the energy to safeguard our future wellbeing at the same time as preserving our planet. People who are proud of delivering the energy for a better life – and being the energy for a better life. We have invited some of them into the spotlight on the following pages. We hope you will join us! FINANCIAL CALENDAR April 8, 2020 Trading Update Q1 2020 April 29, 2020 Results January– March 2020 July 8, 2020 Trading Update Q2 2020 July 29, 2020 Results January–June and Q2 2020 October 8, 2020 Trading Update Q3 2020 October 29, 2020 Results January– September and Q3 2020 This financial calendar represents only an extract of the planned dates in 2020. The complete financial calendar and confirmation of the dates can be found at: www.omv.com/financial-calendar The HTML version of this annual report can be found here: www.reports.omv.com/en/annual-report/2019 The PDF version of this annual report can be found here: www.omv.com/annual-report-2019 2 Contents 4 20,000 REASONS WHY WE' RE EXCITED ABOUT TOMORROW 27 1 — TO OUR SHAREHOLDERS 28 Statement of the Chairman of the Executive Board 30 OMV Executive Board 32 Report of the Supervisory Board 36 OMV on the Capital Markets 41 2 — DIRECTORS’ REPORT 42 About OMV 43 Strategy 48 Sustainability 52 Health, Safety, Security, and Environment 55 Employees 57 OMV Group Business Year 66 Upstream 73 Downstream 79 Outlook 80 Risk Management 83 Other Information 87 3 — CONSOLIDATED CORPORATE GOVERNANCE REPORT 107 4 — CONSOLIDATED FINANCIAL STATEMENTS AND NOTES 108 Auditor’s Report 118 Consolidated Income Statement for 2019 119 Consolidated Statement of Comprehensive Income for 2019 120 Consolidated Statement of Financial Position as of December 31, 2019 122 Consolidated Statement of Changes in Equity for 2019 124 Consolidated Statement of Cash Flows for 2019 125 Notes to the Consolidated Financial Statements 229 5 — FURTHER INFORMATION 230 Consolidated Report on the Payments Made to Governments 237 Abbreviations and Definitions 240 Contacts and Imprint 3 Sara Aldhaheri uses market and competition intelligence to form the basis for OMV’s ongoing international growth. “I’m excited about tomorrow because our energy knows no bounds.” Overcoming boundaries, enhancing performance: we have laid the framework for success with our commitment in the growth regions of Middle East/Africa, Russia, and Asia Pacific. What‘s more, by going international with our successful Downstream business model, we have secured profitable growth options for the future.
Load more

Recommended publications
  • Professional Profile Expertise Recent Experience Education
    Javaid Akhtar Partner PROFESSIONAL PROFILE [email protected] Dual qualified as a Solicitor of England and Wales and Advocate in Pakistan, +92 (51) 285 5890-2 Javaid specialises in acquisitions, oil and gas and arbitration and corporate and commercial matters. Javaid is the managing partner of the Islamabad 64, Nazimuddin Road, F- 8/4, Islamabad, Pakistan office of Vellani & Vellani and was earlier a partner of Amhurst Brown, which merged with Vellani & Vellani in 2018. https://www.linkedin.com/i n/javaid-akhtar-49051313/ RECENT EXPERIENCE EDUCATION ACQUISITIONS Represented local and multinational companies in the sale and Bachelor of Law (LL. B) King’s College London - 1991 purchase of assets and shares, particularly in the upstream oil and gas sector. Acted in the purchase of Austrian owned OMV companies in Pakistan EXPERTISE (2017-8) and UK owned Premier Oil companies in Pakistan (2016), and a substantial holding in a Pakistani oil marketing company to a Dispute Resolution middle-eastern company (2018). Earlier, acted in the sale of BP’s Mergers & Acquisitions, assets in Pakistan (2011-14), purchase of Tullow Pakistan (2014) and Restructuring and aspects of the sale of Petronas Carigali Pakistan (2011). Securities Acted on the buy-side in relation to the Government of Pakistan’s sale Oil & Gas of companies and assets (i.e. privatization), including sale of state interests in petroleum concessions; in Pakistan Steel Corporation and Pakistan State Oil Ltd. Apart from the customary suite of agreements, such transactions involved extensive due diligence and, often protracted, issues to be resolved with regulatory authorities (including the Directorate General (Petroleum Concessions), the Competition Commission of Pakistan and the Securities and Exchange Commission of Pakistan).
    [Show full text]
  • Slovenia: MOL Group' Retail Acquirement Agreement With
    Slovenia: MOL Group’ retail acquirement agreement with OMV The agreed purchase price is 301 million euros (100 % share of OMV Slovenia); MOL Group reached an agreement with OMV to acquire OMV’s 92.25 % stake in OMV Slovenia, in which Croatian INA already holds a 7.75 % minority stake, from OMV Downstream GmbH as direct shareholder. The transaction includes 120 petrol stations across Slovenia. OMV Slovenia operates in the country under 3 brands: OMV (108), EuroTruck (4) and Avanti/DISKONT (8). MOL Group and INA will become the 100 % owner of the wholesale business of the acquired company, as well. With 48 MOL and 5 INA-branded service stations in Slovenia, MOL Group is currently the third largest retail market-player. However, the transaction is still subject to merger clearance. The acquisition fits into the Group’s SHAPE TOMORROW 2030+ updated long-term strategy, which places a special emphasis on the development of Consumer Services. MOL Group CEO Zsolt Hernadi said that this step is in line with group’s strategic goals to further expand retail fuel network in existing and potential new markets in central and eastern Europe. By 2025, MOL Group would like to reach 2200 petrol stations, potentially more, if more good opportunities arise. With constant development and digitization, shaping future consumer and mobility trends, MOL offers convenience as it aims to help people on the move, regardless of what powers the customer’s mode of transport. Furthermore, its integrated business model and accelerating growth enables it to provide financial resources for developing sustainable solutions and boosting circular economy in the region.
    [Show full text]
  • Analiza Efikasnosti Naftnih Kompanija U Srbiji Efficency Analysis of Oil Companies in Serbia
    ________________________________________________________________________ 79 Analiza efikasnosti naftnih kompanija u Srbiji Efficency Analysis of Oil Companies in Serbia prof. dr. sc. Radojko Lukić Ekonomski fakultet u Beogradu [email protected] Ključne reči: ekspolatacija sirove nafte i gasa, Abstract tržišno učešće, efikasnost poslovanja, financijske Lately, significant attention has been paid to the performanse, održivo izveštavanje evolution of the performance of oil companies around Key words: exploration of crude oil and gas, market the world, by individual regions and countries. Bearing share, business efficiency, financial performance, susta- this in mind, relying on the existing theoretical and inable reporting methodological and empirical results, this paper analyzes the efficiency of operations, financial perfor- mance and sustainable reporting of oil companies in Sažetak Serbia, with special emphasis on the Petroleum Industry of Serbia (NIS). The results of the survey show signifi- U poslednje vreme značajna se pažnja poklanja cant role of mining, i.e. oil companies in creating addi- evoluaciji performansi naftnih kompanija u svetu, tional value of the entire economy of Serbia. Concer- po pojedinim regionima i zemljama. Imajući to u ning the Petroleum Industry of Serbia, it has a signi- vidu, oslanjajući se na postojeće teorijsko-metodo- ficant place in the production and trade of petroleum loške i empirijske rezultate, u ovom radu se analizi- products in Serbia. For these reasons, the efficiency of raju efikasnosti poslovanja, finansijske performanse operations, financial performance and maintenance of i održivo izveštavanje naftnih kompanija u Srbiji, s the Petroleum Industry of Serbia has been complexly posebnim osvrtom na Naftnu industriju Srbije (NIS). analyzed. In this respect, according to many indicators, Rezultati istraživanja pokazuju značajnu ulogu rudar- it is at a satisfactory level in relation to the average of the stva, odnosno naftnih kompanija u kreiranju dodatne world’s leading oil companies.
    [Show full text]
  • Nord Stream 2: Background, Objections, and Possible Outcomes Steven Pifer
    NORD STREAM 2: BACKGROUND, OBJECTIONS, AND POSSIBLE OUTCOMES STEVEN PIFER APRIL 2021 EXECUTIVE SUMMARY Nord Stream 2 is an almost-finished natural gas pipeline from Russia to Germany. The Biden administration opposes it and has come under congressional pressure to invoke sanctions to prevent its completion, in large part because the pipeline seems a geopolitical project targeted at Ukraine. The German government, however, regards the pipeline as a “commercial project” and appears committed to its completion, perhaps in the next few months. U.S. sanctions applied on Russian entities to date have failed to stop Nord Stream 2, raising the question of whether the U.S. government would sanction German and other European companies for servicing or certifying the pipeline. Such sanctions would provoke controversy with Germany at a time when both Berlin and the Biden administration seek to rebuild good relations. The two sides have work to do if they wish to avoid Nord Stream 2 becoming a major point of U.S.-German contention. THE PIPELINE The European Union currently imports about 40% of its natural gas from Russia, or about one-third Nord Stream 2 is actually a pair of natural gas of its total gas consumption.4 Gazprom began pipelines that, if/when completed, will run some discussions with European companies on a direct 1,200 kilometers along the bottom of the Baltic Russia-Germany gas pipeline in 2001. At that time, 1 Sea from Ust-Luga, Russia to Greifswald, Germany. it shipped gas to western Europe via pipelines that The two pipelines, collectively referred to as Nord mainly transited Ukraine, and also Belarus and Stream 2, are projected to have the capacity to Poland (the Yamal system).
    [Show full text]
  • The Commercial Deals Connected with Gazprom's Nord Stream 2
    The commercial deals connected with Gazprom's Nord Stream 2 A review of strings and benefits attached to the controversial Russian pipelines Anke Schmidt-Felzmann, PhD Senior Researcher at the Research Centre of the General Jonas Žemaitis Military Academy of Lithuania Abstract This paper reviews the multiple strings and benefits attached to the single most controversial gas pipeline project in Europe - the second Russian twin subsea pipeline that is currently under construction in the Baltic Sea. While much attention has been paid to the question of why and how the Russian state- controlled energy giant seeks to circumvent Ukraine as a transit country for its delivery of gas to Western Europe, hardly any attention has been paid to the benefits gained by the companies and political entities directly involved in the preparation and construction of Nord Stream 2. The paper seeks to fill this gap in the debate by taking a closer look at the business deals and commercial actors involved in the implementation of this second Russian natural gas pipeline project in the Baltic Sea. It highlights how local and national economic interests and European energy companies' motivations for participating in the project go beyond the volumes of Russian natural gas that Gazprom expects to deliver to European customers through its Baltic Sea pipelines from 2020. Keywords: Baltic Sea, Nord Stream, Gazprom, Russia, Germany, Sweden, Denmark, Finland, Latvia. This analysis was produced within the Think Visegrad Non-V4 Fellowship programme. Think Visegrad – V4 Think Tank Platform is a network for structured dialog on issues of strategic regional importance. The network analyses key issues for the Visegrad Group, and provides recommendations to the governments of V4 countries, the annual presidencies of the group, and the International Visegrad Fund.
    [Show full text]
  • LUKOIL's Market Strategy in Central and Eastern Europe 105 O Increasing the Number of Filling Stations for Petroleum Products in Russia and Other Countries
    Petroleum-Gas University of Ploiesti Vol. LXII Economic Sciences 103-110 BULLETIN No. 4/2010 Series LUKOIL’s Market Strategy in Central and Eastern Europe Mihaela Oprea Ciopi Petroleum-Gas University of Ploieşti, Bd. Bucureşti 39, Ploieşti, Romania e-mail: [email protected] Abstract The economic environment has undergone significant development over the past 20 years marked, in particular, by the globalization of the economy and increased competitiveness. The large oil corporations significantly influence national economies and the global economy in general, as a result of their huge financial power and their profit-oriented corporate management, by identifying the most appropriate strategies and the most effective methods of business management . Currently, oil market in Central and Eastern Europe is controlled by three major players: the Austrian OMV, Hungarian MOL company and the Russian company LUKOIL, whose investment strategies and policies contributed to a decisive extent to the development and consolidation of oil industry in the countries in this area, thus in Romania too. In this context, the paper aims to analyze the strategy of developing and consolidating LUKOIL’s position on this market. Key words: strategic alliance, a global energy player, offensive strategy, territorial expansion JEL Classification: M10 Introduction The greatest oil corporations significantly influence national economies and the global economy in general, the effect of their huge financial power and corporate management oriented to increase profit by identifying the most appropriate strategies and the most effective methods of business management. These elements underpin the development of management as a science and was later taken over and adapted by national companies.
    [Show full text]
  • Case No COMP/M.5005 - GALP ENERGIA / EXXONMOBIL IBERIA
    EN Case No COMP/M.5005 - GALP ENERGIA / EXXONMOBIL IBERIA Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(2) NON-OPPOSITION Date: 31/10/2008 In electronic form on the EUR-Lex website under document number 32008M5005 Office for Official Publications of the European Communities L-2985 Luxembourg EUROPEAN COMMISSION Competition DG Brussels, 31-10-2008 SG-Greffe D/206595 C(2008) 6641 In the published version of this decision, some information has been omitted pursuant to Article PUBLIC VERSION 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and MERGER PROCEDURE other confidential information. The omissions are shown thus […]. Where possible the information ARTICLE 6(1)(b) DECISION IN omitted has been replaced by ranges of figures or a CONJUNCTION WITH 6(2) general description. To the notifying party: Dear Sirs, Subject: Case No COMP/M.5005 – Galp Energia/ ExxonMobil Iberia Notification of 12 September 2008 pursuant to Article 4 of Council Regulation No 139/20041 1. On 12 September 2008, the Commission received a notification of a proposed concentration by which the undertaking Galp Energia, SGPS, S.A. ("Galp Energia", Portugal) belonging to the Galp Energia group ("GALP", Portugal) and controlled by ENI S.p.A. ("ENI", Italy), Amorim Energia B.V. ("Amorim", Portugal) and Caixa Geral de Depositos S.A. ("CGD" Portugal), acquires control of the whole of the undertakings Esso Portuguesa Lda. (Portugal), a wholly owned subsidiary of ExxonMobil Portugal ("ExxonMobil Portugal"), Esso Española S.L. ("ESSO Spain") and a part of ExxonMobil Petroleum & Chemical ("EMPC", Belgium), all of them wholly owned subsidiaries of ExxonMobil Corporation ("ExxonMobil", US), by way of purchase of shares.
    [Show full text]
  • Shell and Eni Lead Race to Net Zero
    Shell and Eni lead European oil majors’ race to net zero emissions • New research from the influential Transition Pathway Initiative assesses the recent climate change announcements from six European oil & gas majors • Shell and Eni now have the most ambitious emissions-reduction plans • But claims to be aligned with ‘net-zero’ or 1.5°C are overstated, according to TPI’s analysis (12 May 2020, London) The climate ambitions of European integrated oil and gas majors have strengthened markedly in the last six months, with Total, Shell, BP, Repsol and Eni all having made commitments to significantly reduce the carbon intensity of the energy they supply. New analysis from the Transition Pathway Initiative (TPI) – an investor initiative backed by over $19 trillion of global capital - shows that four oil and gas majors - Shell, Eni, Total, Repsol - are now aligned with the emissions reductions pledged by the signatories to the Paris Agreement. BP and OMV are now the only European companies who fail to align with the Paris pledges. However, despite these commitments, none of the companies are aligned yet with ‘net zero’ or 1.5°C pathways. TPI calculates that the average European oil and gas company would need to cut its emissions intensity by over 70% between 2018 and 2050 to align with a 2°C climate scenario by 2050, while a genuine net zero strategy would require a 100% cut in absolute emissions. Even the most ambitious new targets fall far short of this. Adam Matthews, Co-Chair of TPI, and Director of Ethics and Engagement for the Church of England Pensions Board, said: “The European integrated oil and gas sector is changing rapidly.
    [Show full text]
  • Financial Performance Analysis of Mol Group Regarding the Price Volatility of Oil Be- Tween 2014-2018 David Kocsis
    Financial Performance analysis of Mol Group regarding the price volatility of oil be- tween 2014-2018 David Kocsis Bachelor’s Thesis Degree Programme in International Business 2019 Author David Kocsis Degree programme International Business Report/thesis title Number of pages and Financial Performance analysis of MOL Group regarding the price vola- appendix pages tility of oil between 2014-2018 72 + 6 2014 saw the decline of oil prices, causing many oil and gas companies to rethink their strategies as OPEC production cuts did not bring any long-term results. The aim of this research is to pro- vide a financial performance analysis of Mol Group regarding the price volatility of oil. Information is obtained from the company’s public annual reports and extracting and analyzing results from its official financial statements between 2014-2018. Financial performance by segment is analysed to give a holistic picture about the company’s main cash flow generator during oil price volatility. Another analysis that is investigated in depth in financial statement analysis of Mol Group, includes trend analysis and vertical analysis of the balance sheet and income statement between 2014-2018. The results will be compared against the oil price fluctuations during the same period to determine which part of the company’s finan- cial statements were affected the most. In order to determine to what extent did the oil price decline effect Mol Group’s financial perfor- mance, key financial ratios will be analysed between 2014-2018 as part of financial statement analysis. Benchmarking these financial ratios against its largest local competitor OMV gives an idea about the performance of the company.
    [Show full text]
  • CURRICULUM VITAE WOLFGANG RUTTENSTORFER Wolfgang
    CURRICULUM VITAE WOLFGANG RUTTENSTORFER Wolfgang Ruttenstorfer joined OMV in 1976. He was responsible for the OMV Group strategy in the areas of planning and control beginning in 1985, and took over the mineral oil products business segment in 1990. In 1992, Mr. Ruttenstorfer was appointed to the Executive Board, where he was responsible for finance, controlling and chemicals. He handed over responsibility for finance and controlling in 1996 and, in addition to chemicals, was subsequently in charge of exploration and production as well as the natural gas business. Mr. Ruttenstorfer served as a permanent secretary in the Austrian Federal Ministry of Finance from 1997 to 1999, and returned to the OMV Group in 2000 as Deputy Chairman of the Executive Board with responsibility for finance and natural gas. He was appointed Chairman of the Executive Board on January 1, 2002. Wolfgang Ruttenstorfer previously served or currently serves on the following corporate bodies of other companies: Roche Holding, Basel, Member of the Administrative Board – 2007 to 2011 Vienna Insurance Group, Vienna, Chairman of the Supervisory Board – 2010 to 2014 Telekom Austria, Vienna, Member of the Supervisory Board – 2010 to 2014 Telekom Austria, Vienna, Chairman of the Supervisory Board – since 2015 CA Immobilien Anlagen AG, Vienna, Chairman of the Supervisory Board – 2009 to 2016 Flughafen Wien AG, Vienna, Member of the Supervisory Board – since 2011 RHI AG, Vienna, Member of the Supervisory Board – since 2012 NIS a.d. Naftna Industrija Srbije, Novi Sad, Member of the Administrative Board – since 2012 Mr. Ruttenstorfer was born in Vienna in 1950. He is graduate of the Vienna University of Economics and Business, and is the father of three children.
    [Show full text]
  • Omv Annual Report 2018 / Interview with the Chairman of the Executive Board
    Annual Report 2018 7 reasons why we’re excited about tomorrow WorldReginfo - 82751621-876c-4c73-a706-473b2e0e1446 At a Glance Five-Year Summary 2018 2017 2016 2015 2014 1 Sales 2 in EUR mn 22,930 20,222 19,260 22,527 35,913 Operating Result in EUR mn 3,524 1,732 (32) (1,661) 1,149 Profit from ordinary activities in EUR mn 3,298 1,486 (230) (1,909) 792 Taxes on income in EUR mn (1,305) (634) 47 654 (265) Net income for the year in EUR mn 1,993 853 (183) (1,255) 527 Net income attributable to stockholders of the parent in EUR mn 1,438 435 (403) (1,100) 278 Clean CCS Operating Result 3 in EUR mn 3,646 2,958 1,535 1,737 2,418 Clean CCS net income attributable to stockholders of the parent 3 in EUR mn 1,594 1,624 995 1,148 1,132 Balance sheet total in EUR mn 36,961 31,576 32,112 32,664 33,855 Equity in EUR mn 15,342 14,334 13,925 14,298 14,514 Net debt in EUR mn 2,014 2,005 2,969 4,038 4,902 Average capital employed in EUR mn 16,850 15,550 17,943 19,972 19,760 Cash flow from operating activities in EUR mn 4,396 3,448 2,878 2,834 3,666 Capital expenditure in EUR mn 3,676 3,376 1,878 2,769 3,832 Organic capital expenditure 4 in EUR mn 1,893 1,636 1,868 2,749 3,580 Free cash flow in EUR mn 1,043 1,681 1,081 (39) 272 Free cash flow after dividends in EUR mn 263 1,013 615 (569) (377) Net Operating Profit After Tax (NOPAT) in EUR mn 2,097 987 (88) (1,119) 627 Clean CCS NOPAT 3 in EUR mn 2,196 2,169 1,325 1,522 1,697 Return On Average Capital Employed (ROACE) in % 12 6 0 (6) 3 Clean CCS ROACE 3 in % 13 14 7 8 9 Return On Equity (ROE) in % 14 6 (1) (9) 4 Equity ratio in % 42 45 43 44 43 Gearing ratio in % 13 14 21 28 34 Earnings Per Share (EPS) in EUR 4.40 1.33 (1.24) (3.37) 0.85 Clean CCS Earnings Per Share 3 in EUR 4.88 4.97 3.05 3.52 3.47 Cash flow per share 5 in EUR 13.46 10.56 8.82 8.68 11.24 Dividend Per Share (DPS) 6 in EUR 1.75 1.50 1.20 1.0 0 1.25 Payout ratio in % 40 113 n.m.
    [Show full text]
  • International Deals | PLS
    November 9, 2016 • Volume 08, No. 16 INTERNATIONALDEALS Serving the marketplace with news, analysis and business opportunities Siccar Point buys OMV’s UK North Sea business for $875MM Total signs Iran deal to lead Integrated Austrian oil and gas company OMV made its largest yet in a series of South Pars 11 gas project recent divestments, selling its UK North Sea business to privately held Siccar Point Returning to Iran after a six-year Energy for up to US$875 million. This is the second acquisition for Siccar Point, absence, Total has signed an HOA with which launched in Aberdeen two years ago with a $500 million initial state-owned NIOC to develop Phase 11 commitment from Blackstone Energy Partners, Blue Water Energy of the giant South Pars gas field. The and Singaporean sovereign wealth fund GIC and bought a minority stake French supermajor will take in the Greater Mariner area this summer. an operated 50.1% stake in OMV UK’s key assets are Near-term output & growth potential for Blackstone & Bluewater-backed firm. the offshore project alongside concentrated in the prolific West China’s CNPC (30% WI) and NIOC of Shetlands area of the UK Continental Shelf, where it owns multiple operated subsidiary Petropars (19.9%) under a discoveries, 11.8% WI in the BP-operated Schiehallion redevelopment, and 20% 20-year agreement. This mark’s Iran’s WI in the Chevron-operated Rosebank project. A new FPSO with 130,000 bo/d and first oil and gas deal with a Western 220 MMcf/d capacity is being commissioned at Schiehallion and slated to startup company since a nuclear deal with world in 1H17, and the 50,000 boe/d Rosebank project is in the FEED stage and expected powers took effect in January.
    [Show full text]