OMV (OMV) CMD 2024 summary

Strategic direction and transformation

• Strategy 2030 remains focused on becoming an integrated, sustainable chemicals, fuels, and energy company, with net zero emissions targeted by 2050.

• Updated strategic targets extend beyond 2030, reflecting adaptation to evolving geopolitical and market realities.

• Three core business pillars: chemicals, fuels and feedstock, and energy, with a fourth pillar now more precisely defined for energy.

• Emphasis on growth in sustainable businesses, while maintaining a strong foundation in traditional operations.

• Flexibility built into the strategy to adjust for regulatory and market changes, ensuring resilience and adaptability.

Financial guidance and capital allocation

• 2030 Clean CCS operating result target increased to at least EUR 6.5 billion, and operating cash flow to at least EUR 7.5 billion.

• 20% of operating cash flow expected from sustainable businesses by 2030.

• Average annual organic investment of EUR 3.8 billion between 2024 and 2030, with 40%-50% allocated to sustainable projects.

• Progressive dividend policy maintained, with total payout of 20%-30% of operating cash flow, including special dividends when leverage is below 30%.

• Efficiency program launched to generate at least EUR 500 million additional annual operating cash flow by 2027.

Chemicals segment developments

• Specialty products to exceed 2 million tons by 2030, with a focus on energy, mobility, and infrastructure sectors.

• Major growth projects: Baystar operational, Kallo nearing completion, Borouge 4 on track for end-2025 startup.

• Sustainable chemicals sales targeted at 1.4 million tons by 2030, with 70% from mechanical and chemical recycling.

• ReOil plant completed, aiming for 200,000 tons capacity by 2029, positioning as a leader in advanced recycling.

• Ongoing negotiations for a potential Borealis-Borouge combination, with focus on value creation and strategic fit.