OMV (OMV) Q4 2025 TU earnings summary

Executive summary

• Q4/25 saw lower average Brent crude and natural gas prices compared to previous quarters, with Brent at $63.73/bbl and natural gas (THE) at €31.34/MWh.

• Total hydrocarbon production declined to 300 kboe/d, with both crude oil/NGL and natural gas production decreasing sequentially.

• Non-cash impairment charges and value adjustments totaling €0.7bn are expected, mainly due to production declines and abandonment obligations.

Financial highlights

• Average realized crude oil price dropped to $62.4/bbl, and realized natural gas price to €26.4/MWh in Q4/25.

• Net working capital effects, which caused a €0.4bn cash outflow in Q3/25, are expected to be fully reversed in Q4/25, supporting cash flow from operations.

Outlook and guidance

• Clean Operating Result is expected to remain unaffected by the special impairment items.

• Analyst consensus for Q4/25 results will be published on January 28, 2026.