OREANDA-NEWS. November 16, 2012. Clean CCS EBIT at EUR 786 mn, up 34% vs. Q3/11

Clean CCS net income attributable to stockholders is up 34% to EUR 317 mn

Gearing ratio down to 28% vs. 33% in Q3/11

E&P result supported by higher sales volumes from Libya

EconGas result negatively impacted the otherwise good G&P performance

Strong R&M result benefited from higher refining margins

In July, OMV acquired a 15% stake in the Aasta Hansteen gas field development in the Northern Norwegian Sea

In September, OMV raised EUR 1.5 bn in 10 and 15 year Eurobonds at highly attractive financing terms thereby further extending the debt maturity profile

Gerhard Roiss, CEO of OMV:

“In the first nine months of this year, we managed to deliver a strong operating performance with production in Libya, and also in Yemen since Q3/12, back on stream. We also benefited from healthier refining margins. In line with the targets of our strategy, which focuses on growth in upstream, we announced the acquisition of a 15% stake in the Aasta Hansteen gas field development in July and recently the acquisition of a 20% stake in the oil field development Edvard Grieg, both in Norway. In addition, we significantly increased our exploration acreage in the Black Sea and started the development of the Latif gas field in Pakistan. By raising EUR 1.5 bn in long-dated Eurobonds, we further strengthened our balance sheet and significantly improved our debt maturity profile and funding costs. I am glad to see OMV moving forward decisively in volatile times and preparing the ground for long-term production growth.”