Austrian OMV Reports Full-Year Results Led by Chemicals Division
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Loading... - Fiona Cullen
- 05 Feb 2025
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Austrian oil and gas firm OMV reported its full-year results on February 4, revealing a clean operating result of 5.14 billion euros, which represents a 15% decline year-on-year. This figure is roughly in line with market expectations, which anticipated a result of 5.13 billion euros, according to a consensus compiled by Vara Research.
The company's performance was significantly bolstered by its chemicals division, which helped offset weaknesses in its fuel, feedstock, and energy segments. The chemicals division has emerged as a key growth engine for OMV, showcasing resilience amid broader market challenges.
Looking ahead, OMV expects the average Brent crude oil price to stabilize around $75 per barrel in 2025, along with an average realized natural gas price of approximately 35 euros per megawatt-hour. This strategic outlook reflects OMV's commitment to adapting to market dynamics while enhancing its operational efficiency and sustainability initiatives.
