OMV Aktiengesellschaft (OMVI) Q3 2026 Earnings Report
DE:OMVI Q3 2026 EPS Results
- Actual EPS
- EUR 0.88
- Consensus EPS
- EUR 0.78
- Beat/Miss
- Beat by +EUR 0.10
- One Year Ago EPS
- EUR 0.47
DE:OMVI Q3 2026 Revenue Results
- Actual Revenue
- EUR 9.22B
- Expected Revenue
- EUR 8.38B
- Beat/Miss
- Beat by +EUR 840.77M
- YoY Revenue Growth
- +40.90%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- Before Open
- Conference Call
- Thursday, October 29, 2026
OMV Aktiengesellschaft's next earnings date is estimated for February 4, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
The call was strongly positive overall. OMV reported substantial year-on-year improvements in Clean Operating Result, net income, earnings per share, operating cash flow, free cash flow, leverage, Energy performance, and Fuels performance. It also highlighted progress on Neptun Deep, green hydrogen, exploration, and Borouge International synergies, while raising several 2026 market and operating forecasts. These positives outweighed challenges from Middle East-related lifting restrictions, regulatory solidarity contributions, chemicals-market weakness, Borouge International's reduced dividend, working-capital investment, and market volatility.
For 2026, OMV forecasts the average dated Brent price at above $95/bbl, the average THE gas price at above EUR 55/MWh, and the average realized gas price at around EUR 45/MWh; Energy production is estimated at around 290,000 BOE, at the upper end of the previous range, Fuels’ refining indicator margin at around $25/bbl and refinery utilization above 90%, while Chemicals’ steam cracker utilization rate is estimated at above 80%. Borouge International is expected to show a notable improvement in the fourth quarter, with Borouge PLC utilization above 90% in October, first integration-synergy benefits in Q4 2026, EUR 200 million of annual run rate EBITDA synergies supporting EBITDA already in the fourth quarter and full contribution in 2027; OMV Group CapEx is estimated at around EUR 3.5 billion and the full-year Clean tax rate between 35% and 40%. Neptun Deep first gas is targeted for the first half of next year, plateau production by the end of the third quarter of 2027 at approximately 140,000 BOE/D for nearly 10 years, including 70,000 BOE/D net to OMV Petrom, and around EUR 500,000,000 per year to Clean Operating Result at full plateau production.
- Strong Third-Quarter Clean Operating ResultClean CCS Operating Result increased 68% year-on-year to EUR 2.1 billion, supported by strong Energy and Fuels performance.
- Higher Clean Net Income and Earnings per ShareClean CCS net income attributable to stockholders rose to almost EUR 1.2 billion, an increase of more than EUR 500 million year-on-year. Clean CCS earnings per share almost doubled to EUR 3.54.
- Operating Cash Flow DoubledCash flow from operating activities doubled to around EUR 2.2 billion in the third quarter, reflecting stronger earnings and the first Borouge International dividend of EUR 460 million.
- Energy Segment Result Increased More Than 50%Energy Clean Operating Result rose by more than 50% year-on-year to EUR 936 million, driven by substantially higher hydrocarbon prices and market effects of more than EUR 500 million.
- Higher Realized Commodity PricesRealized crude oil price increased 41% to an average of $94/bbl. The European benchmark gas price, THE, increased 91%, while OMV's average realized natural gas price rose 80% to EUR 49/MWh.
- Resilient Hydrocarbon ProductionDespite the conflict in the Middle East, hydrocarbon production remained broadly resilient at 294,000 BOE/D.
- Exceptional Refining PerformanceFuels Clean CCS Operating Result rose sharply to more than EUR 1.1 billion, driven by high asset utilization and an exceptional refining margin environment. The European refining indicator margin more than tripled from $11.5/bbl to $37.5/bbl, while refinery utilization was 92%.
- Higher Fuel and Non-Fuel Sales VolumesFuel sales volumes increased in both the retail and commercial businesses. In the examples cited by management, fuel volumes were up 4% year-on-year and non-fuel volumes were up 5% year-on-year.
- Strong ADNOC ContributionThe result from ADNOC Refining and ADNOC Global Trading rose substantially from around EUR 50 million to almost EUR 160 million, driven by high refinery utilization, strong refining margins, and a better trading result.
- Improvement in OMV-Based Chemicals OperationsThe contribution from OMV-based chemicals rose strongly, supported by a positive market effect of EUR 60 million. The ethylene indicator margin grew 18% and the propylene indicator margin increased 35%, while steam cracker utilization rose 3 percentage points year-on-year to 82%.
- Borouge International Synergy ProgressWithin six months of its establishment, Borouge International secured initiatives representing $200 million of annual run-rate EBITDA synergies out of announced synergies of over $500 million. These initiatives are expected to support EBITDA beginning in the fourth quarter, with full contribution in 2027.
- Borouge International Operational ProgressBorouge International reported adjusted EBITDA of around $900 million. Polyolefin sales volumes increased 11% quarter-on-quarter, Middle East utilization at Borouge PLC improved from 60% in the second quarter to 76%, and plants in North America and Europe continued to operate at high utilization rates.
- Strong Cash Flow and Free Cash Flow GenerationNine-month cash flow from operating activities excluding net working capital effects increased to EUR 5.1 billion, while cash flow from operating activities rose more than 20% to EUR 4.3 billion. Organic free cash flow before dividend more than doubled to EUR 2 billion.
- Improved Balance-Sheet PositionThe leverage ratio declined to 17% from 19% at mid-year. OMV said it continues to maintain a high level of liquidity, a well-balanced debt maturity profile, and no significant near-term refinancing requirements.
- Neptun Deep Nears CompletionNeptun Deep reached almost 90% completion. The offshore platform has been installed, drilling for the remaining two of 10 wells is ongoing, the pipeline to shore has been installed, and onshore works are progressing.
- Neptun Deep Production and Financial PotentialFirst gas from Neptun Deep is targeted for the first half of 2027, with plateau production by the end of the third quarter of 2027. With approximately EUR 4 billion of total development CapEx, the project is expected to deliver approximately 140,000 BOE/D at plateau for nearly 10 years, or 70,000 BOE/D net to OMV Petrom, and around EUR 500 million per year in Clean Operating Result at full plateau production.
- Green Hydrogen Project ProgressConstruction of the 140-MW green hydrogen plant in Austria is well on track for startup at the end of next year. The project secured EUR 450 million of EIB funding and is expected to enable the Schwechat refinery to replace about 10% of its Scope 1-2 emissions.
- Exploration Activity and Black Sea FocusExploration spending is expected to be less than EUR 200 million in 2026. OMV has drilled 10 exploration wells so far in 2026, including two technically successful wells in Bulgaria, and plans the Anaconda well in Romania for 2026/2027.
- Raised 2026 Market and Operating OutlookOMV raised its 2026 average dated Brent forecast to above $95/bbl, average THE gas price forecast to above EUR 55/MWh, and average realized gas price forecast to around EUR 45/MWh. Production is expected to be around 290,000 BOE, refining indicator margin around $25/bbl, refinery utilization above 90%, and steam cracker utilization above 80%.
- Expected Fourth-Quarter Borouge ImprovementOMV expects a notable improvement in Borouge International's fourth-quarter performance, supported by Middle East asset utilization above 90% in October, upward-trending global polyolefin prices, and the first integration-synergy benefits.
- Capital Allocation and Dividend CapacityManagement said OMV remains value rather than volume driven, will maintain capital discipline, and expects strong cash flow and the balance sheet to support an attractive and competitive dividend. Management indicated that an additional variable dividend in the range of 20% to 30% remains possible under the existing policy.
- 2026 Investment Program Supports Growth ProjectsOrganic investing in the first nine months totaled around EUR 2.3 billion and included Neptun Deep, the SAF/HVO plant in Romania, and the green hydrogen plant in Austria. Full-year Group CapEx is now estimated at around EUR 3.5 billion, driven by accelerated execution of Neptun Deep.
DE:OMVI Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 04, 2027 | 2026 (Q4) | 0.72- | 0.44 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 0.780.88 | 0.47 | 86.06% (+0.41) | |
| Jul 31, 2026 | 2026 (Q2) | 0.600.73 | 0.3 | 142.60% (+0.43) | |
| Apr 30, 2026 | 2026 (Q1) | 0.310.26 | 0.32 | -18.99% (-0.06) | |
| Feb 04, 2026 | 2025 (Q4) | 0.380.44 | 0.39 | 12.24% (+0.05) | |
| Oct 29, 2025 | 2025 (Q3) | 0.380.47 | 0.26 | 85.66% (+0.22) | |
| Jul 31, 2025 | 2025 (Q2) | 0.320.30 | 0.36 | -17.16% (-0.06) | |
| Apr 30, 2025 | 2025 (Q1) | 0.360.32 | 0.51 | -37.08% (-0.19) | |
| Feb 04, 2025 | 2024 (Q4) | 0.360.39 | 0.49 | -19.82% (-0.10) | |
| Oct 29, 2024 | 2024 (Q3) | 0.340.26 | 0.31 | -18.05% (-0.06) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
