Austrian fuel giant increases income

OMV growing in Central and Eastern Europe / OMV clients filling up at a gas station
Austrian company OMV which has close to four thousand gas stations in Central and Eastern Europe has reported higher than forecast core income in April.

OMV reported in April higher-than-forecast core income, as lower contributions from its divisions for chemicals and materials and energy were partly offset by a higher result in fuels and feedstock.

The Austrian oil and gas group posted clean current cost of supplies (CCS) earnings before interest and tax (EBIT), which exclude special items and inventory gains or losses, of 2.08 billion euros ($2.29 billion).Investors had expected a result of 1.86 billion euros, according to a company-compiled consensus.The Vienna-based company steed that it aims for an organic capital expenditure in 2023 of around 3.8 billion euros, slightly above its previous target of 3.7 billion euros.

The Austrian multinational OMV entered the Czech market in 1991. OMV Česká republika and now operates more than 3,700 gas stations in the countries of Central and Eastern Europe.

Boon for the OMV’s 2030 strategy

The figures announced last month will please the company as they come shortly after it announced its strategy until the end of the current decade in March of this year. OMV aims to become a leading integrated sustainable fuels, chemicals and materials company with a focus on circular economy solutions. It is aiming for net-zero emissions by no later than 2050 with a clean CCS operating result of at least six billion Euro by 2030 with an operating cash flow of at least seven billion Euro. 

The business segment Chemicals & Materials will be the growth engine of the company. It is to be substantially strengthened, expanded, and diversified, with the aim to establish a globally leading position in circular economy solutions. The Refining & Marketing business is to become a leading European provider of sustainable fuels, feedstock, and mobility solutions. In line with the ambition to become a net-zero company, OMV will reduce its oil and gas production by around 20% by 2030 and will completely cease oil and gas production for energy use by 2050. At the same time Exploration & Production business segment will invest in geothermal energy and carbon capture and storage (CCS).

In retail, OMV aims to grow profitability and further develop existing market potential through significant growth in the non-fuel business sector. The retail segment will be resilient but increasingly shift from fuel to e-vehicle charging, hydrogen, and convenience. A portfolio of sustainable premium fuels based on biofuels and synthetic fuels will compensate for the decline in fossil fuels. OMV intends to increase the margin contribution of the retail non-fuel business by around 30% by 2030.

OMV is expanding its capabilities to take advantage of the growth in e-vehicle charging, leveraging its strong retail position in Central and Eastern Europe. Investing more than EUR 400 mn by 2030, OMV will offer more than 2,000 e-charging points by 2030 at highway and transit route filling stations, plus around 17,000 office wall-box charging points by 2030.

The OMV franchise

OMV gas stations are multifunctional service centers. OMV customers have access to the highest quality fuels, lubricants and washing line services; in addition, approximately 100 VIVA stations provide an expanded range of refreshments and a wide range of additional services.

As an OMV franchise partner, you rent a gas station for your business. You take care of the entrusted property, through it you ensure the sale of PHM in the name of OMV, and at the same time you run your own business in the field of retail sales of goods, fresh coffee and refreshments.

OMV income rising inline with strategy / OMV focusing on sustainability

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