OMV (OMV) Q4 2025 (Media) earnings summary

Executive summary

• Achieved a healthy profit in 2025 despite not matching 2024's strong results, amid global economic uncertainty, trade conflicts, and geopolitical crises.

• Clean CCS Operating Result for Q4 2025 fell 16% year-over-year to EUR 1,153 mn, mainly due to a weaker Energy segment, partially offset by strong Fuels and Chemicals performance.

• Full-year 2025 sales revenues from continuing operations declined 7% to EUR 24,308 mn, with net income for the period at EUR 1,520 mn.

• Maintained robust financial strength and resilience through an integrated business model and strategic transformation.

• Major strategic development: binding agreement with ADNOC to combine Borealis and Borouge into Borouge Group International, and acquisition of Nova Chemicals, with closing expected Q1 2026.

Financial highlights

• Clean CCS Operating Result for 2025 was EUR 4.6 billion, down 10% year-over-year.

• Cash flow from operating activities reached EUR 5.2 billion.

• Free cash flow after dividends for 2025 was EUR 180 mn, compared to EUR -158 mn in 2024.

• Proposed total dividend per share for 2025 is EUR 4.40.

• Net special items in Q4 2025 were EUR -702 mn, mainly due to non-cash impairments in E&P assets and abandonment obligations in Romania.

Outlook and guidance

• 2026 Brent oil price expected at $65 per barrel; THE gas price over EUR 30/MWh.

• European Refining Indicator Margin forecasted at $8 per barrel.

• Organic CAPEX projected at EUR 3.2 bn (down from EUR 3.7 bn in 2025).

• Hydrocarbon production expected slightly below 300 kboe/d; refining margin Europe at USD 8/bbl.

• Steam cracker utilization rate in Chemicals forecast at 90% (up from 82%).