OMV (OMV) CMD 2025 summary

Strategic direction and transformation

• Strategy 2030 focuses on integrated energy, fuels, and chemicals, with an agile transformation approach and a strong commitment to net zero by 2050 for Scope 1, 2, and 3 emissions.

• The pace of the energy transition and sustainable investments is being adjusted to reflect slower market and regulatory developments, with increased emphasis on gas as a growth engine and selective acceleration in renewables and geothermal.

• The formation of Baruch Group International (BGI) with ADNOC is a major milestone, shifting chemicals production to advantaged regions, enhancing global competitiveness, and positioning BGI as a global polyolefins leader.

• Investments are being rebalanced, with more capital allocated to traditional businesses and some sustainable projects rescheduled post-2030, reducing organic CapEx by EUR 1.5 billion until 2030 and focusing on free cash flow maximization.

• Maintaining absolute GHG emission reduction targets: -30% Scope 1 & 2 and -20% Scope 3 by 2030 (vs. 2019 baseline).

Financial guidance and shareholder returns

• Clean CCS operating result target is over EUR 6.5 billion, with EUR 6 billion operating cash flow and EUR 9 per share EPS by 2030; clean CCS ROACE target of ≥12% in the mid- to long-term.

• Leverage is targeted to remain below 30%, with current levels at 12% and expected to rise to 22% post-BGI transaction, supporting a strong investment grade credit rating.

• The new dividend policy from 2026 will distribute 50% of BGI dividends and 20-30% of OMV operating cash flow, with a minimum BGI dividend floor of EUR 1 billion net annually and potential upside.

• Free cash flow is expected to grow by more than 50% to over EUR 3 billion by 2030, supported by lower CapEx, maturing projects, and operational growth.

• Progressive dividend policy: regular dividends to increase or be maintained annually, with additional variable dividends when leverage is below 30%.

Business segment developments

• Gas is positioned as a key growth engine, with Neptune Deep expected to start in 2027, doubling Romania's gas output and contributing EUR 0.5 billion to OMV Petrom's clean operating result by 2030.

• Oil and gas production is targeted at 400,000 BOE/day by 2030, with growth from both organic projects and value-accretive M&A.

• Renewables and geothermal investments are paced according to market readiness, with a 1.3 GW renewables portfolio in Romania and the first geothermal plant in Vienna starting in 2028.

• Fuels business aims for 50% growth in cash flow from operations by 2030, leveraging retail, B2B, e-mobility, and renewable fuels, with significant CapEx in HVO/SAF plants and electrolyzers.

• Chemicals growth is driven by BGI, integrating Borealis, Borouge, and Nova Chemicals, targeting EUR 7 billion EBITDA through synergies, growth projects, and a robust specialty product portfolio.