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OMV (OMV) investor relations material
OMV Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Clean CCS operating result for 2025 was EUR 4.6 billion, down 10% year-over-year, with cash flow from operations at EUR 5.2 billion, only 4% below 2024, demonstrating resilience despite economic and geopolitical challenges.
Oil and gas production volumes decreased by 2% year-over-year, excluding Malaysian divestment, while polyolefin sales volumes (including JVs) increased 3% year-over-year.
Over 70% of the 2027 efficiency program target was achieved by end-2025, maintaining a strong balance sheet with a 14% leverage ratio.
Proposed total dividend of EUR 4.40 per share for 2025, representing a 9.3% yield and 28% payout of operating cash flow.
Strategic progress included the Borouge Group International transaction, advances in Neptun Deep, renewables expansion, and a significant oil discovery in Libya.
Financial highlights
Q4 2025 clean CCS operating result was EUR 1.15 billion, down 16% year-over-year; full-year clean CCS operating result was EUR 4.6 billion, down 10% year-over-year.
Q4 2025 cash flow from operating activities was EUR 1.7 billion, up over 60% year-over-year; full-year cash flow from operations was EUR 5.2 billion.
Leverage ratio at year-end 2025 was 14%; net debt decreased to EUR 3.2 billion.
Dividend yield for 2025 at 9.3%; payout ratio at 28% of operating cash flow.
Organic free cash flow for 2025 was EUR 1.5 billion, down 25% year-over-year.
Outlook and guidance
Organic CapEx for 2026 expected at EUR 3.2 billion, with 70% dedicated to growth and 30% to sustainable projects.
Brent price forecast for 2026 is $65/bbl; average gas price above EUR 30/MWh; refining margin projected at $8/bbl.
Oil and gas production expected slightly below 300,000 BOE/day; unit production cost to stay below $11/bbl.
Dividend policy from 2026 will distribute 50% of BGI dividends attributable to OMV plus 20-30% of cash flow from operations excluding BGI dividends.
2026 outlook excludes Borealis-related effects due to Borouge Group International transaction and Nova Chemicals acquisition.
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