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Stock impact report

OMV 2023 Rev EUR39.5B [MarketWatch]

OMV AG BEARER SHS S/ADR (OMVKY) 
Company Research Source: MarketWatch
The Austrian oil-and-gas company said it made 236 million euros ($255.3 million) in quarterly net profit compared with EUR308 million a year prior. On an adjusted basis, net profit for the quarter fell 5% to EUR665 million, beating analysts' expectations of EUR481 million, according to OMV's website. Advertisement Revenue for the period fell 31% to EUR10.05 billion, OMV said. Exploration and development production declined by 21,000 barrels of oil equivalent a day to 365,000 boe/d, a reflection of what OMV said was a "natural decline in several countries." OMV said it expects a Brent crude oil price at around $80 a barrel in 2024 compared with $83/bbl in 2023 and for the average realized gas price to come at around EUR25 a megawatt hour compared with EUR29/MWh last year. It expects total hydrocarbon production in 2024 to be between 330,000 boe/d and 350,0000 boe/d OMV said Wednesday that it would propose a regular dividend of EUR2.95 a share and a special dividend of EUR2 Show less Read more
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