OREANDA-NEWS. Clean CCS EBIT at EUR 733 mn; clean CCS net income attributable to stockholders at EUR 321 mn

Cash flow from operating activities for the quarter at EUR 1,202 mn, up by 138% vs. Q2/12

Strong balance sheet with gearing ratio at 15%

Successful appraisal of the Zola gas discovery offshore Australia

Exploration footprint enlarged via additional licenses in Norway and an exploration agreement with Abu Dhabi National Oil Company (ADNOC)

In June, OMV divested its lubricants business

Excellent free cash flow after dividends at EUR 1.6 bn in 6m/13 strongly supported by working capital reductions and disposals

Gerhard Roiss, CEO of OMV:

“In the first half year of 2013, our good operational performance as well as improvement measures under the performance program “energize OMV” contributed to a very strong free cash flow generation fueling our upstream growth. I am especially proud that we managed to achieve the highest year-on-year production growth in Romania since the acquisition of Petrom. We further enlarged our exploration portfolio in Norway where we now have a total of 23 offshore licenses in one of our most important areas of growth, as well as in Abu Dhabi where we signed a further upstream agreement with our partner ADNOC. In the promising Black Sea region, we advanced our exploration activities in Romania by completing the 3D seismic campaign in the Neptun block, and in Bulgaria by starting a significant 3D seismic acquisition. The sale of our lubricants business, together with the country exits in Bosnia-Herzegovina and Croatia, progresses the execution of our focused strategy: Grow upstream, optimize downstream.”