OMV reports stronger-than-forecast earnings drop in Q2


BERLIN : OMV on Friday posted lower-than-expected core earnings in the second quarter of 2023, due to lower contributions from all business sections, it said.

The Austrian oil and gas company reported a clean current cost of supplies (CCS) operating result of 1.18 billion euros ($1.29 billion) for the April-to-June period, down 60 per cent on the same period a year prior.

Analysts had forecast a second-quarter clean CCS operating result of 1.27 billion euros, according to a company-provided consensus.

The company confirmed its outlook and expects organic capital expenditure of around 3.8 billion euros in 2023, versus 3.7 billion euros in 2022, including non-cash effective CAPEX related to leases of around 0.2 billion euros.

($1 = 0.9116 euros)


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