OREANDA-NEWS. August 14, 2012. Clean CCS EBIT at EUR 865 mn, up 82% vs. Q2/11

Clean CCS net income attributable to stockholders is up 89% to EUR 455 mn

Gearing ratio down to 31% vs. 34% in Q2/11

E&P result supported by higher sales volumes from Libya

G&P result negatively impacted by widening spread between oil-linked and hub gas prices
R&M result benefited from higher refining and petrochemical margins

OMV starts the roll-out of the performance improvement program announced at the Capital Markets Day in 2011

Gerhard Roiss, CEO of OMV:

“In the first half year of 2012, we continued our strong operating performance despite a very volatile political and economic environment. The implementation of our strategy which focuses on growth in upstream is taking shape. On top of the gas discovery in the Black Sea offshore Romania in February, we recently recorded important milestones such as the award of 30% of an exploration block in the Bulgarian Black Sea adjacent to the Neptun block, the signing of an upstream agreement with the Abu Dhabi National Oil Company, a number of asset deals in the UK as well as the acquisition of a 15% stake in a deep water gas development in the Northern Norwegian Sea. The selection of Nabucco West as Central European option for gas delivery from the Shah Deniz II field in Azerbaijan is a major step towards the final investment decision. In Downstream, the divestment program announced last year is on track. We have also started the full roll-out of the group-wide performance program, which is set to deliver the announced ROACE increase of 2% points by 2014. All in all, I am glad to see our strategy implementation is gathering pace.”