(Reuters) - Austrian oil and gas firm OMV on Tuesday reported full-year adjusted operating profit in line with expectations, as better performance at its chemicals division offset weakness at the fuel
OMV's FY Profit Driven by Chemicals Segment Performance
(Reuters) - Austrian oil and gas firm OMV on Tuesday reported full-year adjusted operating profit in line with expectations, as better performance at its chemicals division offset weakness at the fuel and feedstock and energy segments.
The Vienna-based company reported a clean operating result of 5.14 billion euros ($5.29 billion), down 15% year-on-year, but roughly in line with expectations of 5.13 billion euros, according to a consensus compiled by Vara Research.
A clean operating result is based on the current cost of supply, and excludes one-off items and short-term gains and losses from energy inventory holdings.
OMV's chemicals division, viewed as a growth engine for the company as it moves away from polluting fossil fuels, produces chemicals used in gas and water pipes, car parts and medical syringes.
For 2025, the company said it expected the average Brent price to be around $75 per barrel, as well as an average realized natural gas price of around 35 euros per megawatt-hour.
In 2024, the average Brent price stood at $80.8 per barrel and the average realized natural gas price reached 25.1 euros per megawatt-hour.
The firm also said it will propose a total dividend of 4.75 euros per share for 2024, divided into a regular dividend of 3.05 euros and a special dividend of 1.70 euros. Last year, the dividend reached 5.05 euros per share.
($1 = 0.9714 euros)
(Reporting by Tristan Veyet and Isabel Demetz in Gdansk; Editing by Eileen Soreng)
