OMV is an international energy company with activities in Exploration and Production (E&P), Refining and Marketing including petrochemicals (R&M), and Gas and Power (G&P). Co. explores and develops oil and gas resources and supply energy to over 100 million people. OMV has three operating segments: Exploration and Production (E&P), Refining and Marketing, including petrochemicals (R&M), and Gas and Power (G&P), as well as the segment Corporate and Other (Co&O).
  • TickerOMV
  • ISINAT0000743059
  • ExchangeVienna Stock Exchange
  • SectorOil & Gas Producers
  • CountryAustria

Analysts

Research Team

Focus: Emerging Europe refining – refining’s ship is coming in, IM(H)O (Hellenic Petroleum, Lotos, MOL, Motor Oil Hellas, NIS, OMV, OMV Petrom, PKN Orlen, Tupras); keeping our SELL on Eurocash, with a higher PLN 18.7 PT; Poland macro

HEADLINES: • Emerging Europe refining: Refining's ship is coming in, IM(H)O (Hellenic Petroleum, Lotos, MOL, Motor Oil Hellas, NIS, OMV, OMV Petrom, PKN Orlen, Tupras) • Eurocash: frozen (stays SELL) • Poland macro: growth better, rates steady • Romania macro: not stopping until something forces it to • CCC: 1Q full numbers poor as prelims, Switzerland and marketing to be blamed NEUTRAL • Benefit Systems: 1Q19 results - in line with expectations overall, but very messy NEUTRAL • DIGI Communications: 1Q19 losses deepening due to net finance costs • KGHM: 1Q19 financial results - 8% above co...

Jonathan Lamb ...
  • Ondrej Slama

Emerging Europe Refining: Refining’s ship is coming in, IM(H)O (Hellenic Petroleum, Lotos, MOL, Motor Oil Hellas, NIS, OMV, OMV Petrom, PKN Orlen, Tupras)

In this report, we update our view on the refining sector, ahead of the IMO 2020 regulations that will be implemented at the beginning of next year, which will reduce the demand for high sulphur fuel oil (HSFO) and increase the consumption of diesel. The change is also likely to have a dramatic impact on the need for, and the price of, different grades of crude oil. This is all overlaid on a refining market where supply is growing more rapidly than demand, and yet may force restructuring in the sector, as low complexity refineries are made to close. Although not all refiners are created equal,...

Research Team

Focus: transferring coverage of Electrica (BUY), Transelectrica (HOLD) and Transgaz (HOLD); Yapi Kredi’s 1Q19 highlights; Erste Bank posts 6% beat vs. net profit estimates in 1Q19, due to LLPs releases; Komercni Banka posts solid 1Q19

HEADLINES: • Romanian utilities: entering murky waters (Electrica stays BUY, Transelectrica & Transgaz stay HOLD – transfer of coverage) • Yapi Kredi: 1Q19 highlights POSITIVE • Erste Bank: posts 6% beat vs. net profit estimates in 1Q19, due purely to LLPs releases • Komercni Banka: posts solid 1Q19 NEUTRAL • Coca-Cola Icecek: 1Q19 review - weak numbers, with 5% beat on EBITDA; Pakistan issues continue NEUTRAL • BRD-GSG: weaker pre-provision profitability, but write-backs support bottom line • OMV: 1Q19 results, in line • OMV Petrom: 1Q19 results, no surprises • MOL: 1Q19 results • Myti...

Research Team

Focus: MONETA Money Bank’s solid 1Q19 – significantly higher 2019-21E dividend outlook key positive surprise; Sberbank’s 1Q19 highlights; Magnit’s 1Q19 below expectations, Lenta M&A no longer being considered; Tauron’s 1Q19E prelims review

HEADLINES: • MONETA Money Bank: solid 1Q19 - significantly higher 2019-21E dividend outlook key positive surprise POSITIVE • Sberbank: 1Q19 highlights • Magnit: 1Q19 below expectations; Lenta M&A no longer being considered NEGATIVE • Tauron: 1Q19E prelims review - 18% consensus beat, generation and supply surprise positively POSITIVE • Turkcell: 1Q19 results - numbers in line, time to focus on dividend vote at AGM NEUTRAL • Aselsan: signs EUR 841m ALTAY electronics subcontract deal POSITIVE • Coca-Cola HBC: 1Q19 trading update - in line, special dividend declared (8.1% total yield) POSITIVE •...

OMV AG with less fundamental stars is reduced to Neutral

OMV AG (AT), a company active in the Integrated Oil & Gas industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date April 26, 2019, the closing price was EUR 48.33 and its expected value was estimated at EUR 47.78.

OMV AG - September 2017 (LTM): Peer Snapshot

Peer Snapshot: OMV AG - September 2017 (LTM) 19 December 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17

OMV AG - June 2017 (LTM): Peer Snapshot

Peer Snapshot:  OMV AG - June 2017 (LTM) 4 October 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17

OMV AG: OMV has financial flexibility to build upstream operations

CORPORATES CREDIT OPINION 12 June 2017 Update RATINGS OMV AG Domicile Vienna, Austria Long Term Rating Baa1 Type LT Issuer Rating - Fgn Curr Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Elena Nadtotchi 44-20-7772-5380 VP-Sr Credit Officer [email protected]

OMV AG - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  OMV AG - March 2017 (LTM) 9 June 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-14 FYE Dec-15 LTM Dec-16

OMV AG - December 2016 (LTM): Peer Snapshot

Peer Snapshot:  OMV AG - December 2016 (LTM) 19 May 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Jonathan Lamb ...
  • Ondrej Slama

Emerging Europe Refining: Refining’s ship is coming in, IM(H)O (Hellenic Petroleum, Lotos, MOL, Motor Oil Hellas, NIS, OMV, OMV Petrom, PKN Orlen, Tupras)

In this report, we update our view on the refining sector, ahead of the IMO 2020 regulations that will be implemented at the beginning of next year, which will reduce the demand for high sulphur fuel oil (HSFO) and increase the consumption of diesel. The change is also likely to have a dramatic impact on the need for, and the price of, different grades of crude oil. This is all overlaid on a refining market where supply is growing more rapidly than demand, and yet may force restructuring in the sector, as low complexity refineries are made to close. Although not all refiners are created equal,...

OMV - Standing Out From The Rest

OMV – Earnings Revision Rating: Accumulate (prev. BUY) Target Price (12-m): HUF 52.7 (prev. EUR 57.0) Current share price: EUR 48.4     We cut our long-term Brent oil price estimates from USD 70/bbl to USD 65/bbl due to increasing growth fears. Accordingly, we reduced our 12-m TP from EUR 57 to EUR 52.7, yet implying a 9% upside potential from the current share price (which with a DIVY of 4.9% may result in a total return of ca. 14%).   Dividend should remain on a progressive path thanks to the continued strong free cash flow generating ability. FCY is expected to be ca.7pc this year ...

Research Team

The Rear-View Mirror – EME markets: Turkish ISE30 plummets in March

EME Equity Market – March 2019 Market performance – Turkish ISE index down 13.9% in March. In March, the MSCI EME remained flat, following February’s 1.6% mom contraction. Bucharest’s BET index was the best performer in March, +4.2% mom; followed by the MOEX index (2.1% mom); the ASE index (+2.0% mom); and Budapest’s BUX (+1.5% mom). In negative territory, the worst performer was the Turkish ISE30, -13.9% mom; while the WIG20 and the Czech PX lost 0.9% mom and 0.5% mom, respectively.

Research Team

The Rear-View Mirror – EME markets: ASE rallied in February

EME Equity Market – February 2019 Market performance – ASE Index up 11.5% mom in February. The ASE index outperformed its rivals in February, rising by 11.5%, following a mom gain of 3.5% in January. Bucharest was the second-best performer, up 10.2% in February, while Prague’s PX recorded a mom gain of 3.2%. The MSCI EME was in correction mode in February, losing 1.6% mom, following January’s double-digit growth of 11.3% mom; while the MOEX and BUX both lost 1.3% mom in February; and the Turkish ISE30 was down 2.1% mom. Last but not least, the worst performer was the WIG20, which recorded a lo...

OMV

Research Team

Focus: Emerging Europe refining – refining’s ship is coming in, IM(H)O (Hellenic Petroleum, Lotos, MOL, Motor Oil Hellas, NIS, OMV, OMV Petrom, PKN Orlen, Tupras); keeping our SELL on Eurocash, with a higher PLN 18.7 PT; Poland macro

HEADLINES: • Emerging Europe refining: Refining's ship is coming in, IM(H)O (Hellenic Petroleum, Lotos, MOL, Motor Oil Hellas, NIS, OMV, OMV Petrom, PKN Orlen, Tupras) • Eurocash: frozen (stays SELL) • Poland macro: growth better, rates steady • Romania macro: not stopping until something forces it to • CCC: 1Q full numbers poor as prelims, Switzerland and marketing to be blamed NEUTRAL • Benefit Systems: 1Q19 results - in line with expectations overall, but very messy NEUTRAL • DIGI Communications: 1Q19 losses deepening due to net finance costs • KGHM: 1Q19 financial results - 8% above co...

Research Team

Focus: transferring coverage of Electrica (BUY), Transelectrica (HOLD) and Transgaz (HOLD); Yapi Kredi’s 1Q19 highlights; Erste Bank posts 6% beat vs. net profit estimates in 1Q19, due to LLPs releases; Komercni Banka posts solid 1Q19

HEADLINES: • Romanian utilities: entering murky waters (Electrica stays BUY, Transelectrica & Transgaz stay HOLD – transfer of coverage) • Yapi Kredi: 1Q19 highlights POSITIVE • Erste Bank: posts 6% beat vs. net profit estimates in 1Q19, due purely to LLPs releases • Komercni Banka: posts solid 1Q19 NEUTRAL • Coca-Cola Icecek: 1Q19 review - weak numbers, with 5% beat on EBITDA; Pakistan issues continue NEUTRAL • BRD-GSG: weaker pre-provision profitability, but write-backs support bottom line • OMV: 1Q19 results, in line • OMV Petrom: 1Q19 results, no surprises • MOL: 1Q19 results • Myti...

Research Team

Focus: MONETA Money Bank’s solid 1Q19 – significantly higher 2019-21E dividend outlook key positive surprise; Sberbank’s 1Q19 highlights; Magnit’s 1Q19 below expectations, Lenta M&A no longer being considered; Tauron’s 1Q19E prelims review

HEADLINES: • MONETA Money Bank: solid 1Q19 - significantly higher 2019-21E dividend outlook key positive surprise POSITIVE • Sberbank: 1Q19 highlights • Magnit: 1Q19 below expectations; Lenta M&A no longer being considered NEGATIVE • Tauron: 1Q19E prelims review - 18% consensus beat, generation and supply surprise positively POSITIVE • Turkcell: 1Q19 results - numbers in line, time to focus on dividend vote at AGM NEUTRAL • Aselsan: signs EUR 841m ALTAY electronics subcontract deal POSITIVE • Coca-Cola HBC: 1Q19 trading update - in line, special dividend declared (8.1% total yield) POSITIVE •...

Research Team

Focus: Terna Energy’s 2018 results – solid, above our expectations; Polish gencos – regulator approves 2019 distribution tariff; Wirtualna Polska purchases 13% stake in e-podroznik.pl for PLN 7.7m; OMV signs MOU with ADNOC

HEADLINES: • Terna Energy: 2018 results - solid, above our expectations POSITIVE • Polish gencos: regulator approves 2019 distribution tariff NEUTRAL • Wirtualna Polska: purchases 13% stake in e-podroznik.pl for PLN 7.7m NEUTRAL • OMV: signs MOU with ADNOC for petrochemicals collaboration • Kofola: 4Q18E results preview (due out today, after the close) • Mytilineos: 2H18E results preview (due on 28 March) • Short News (PL politics, MDG, SFG)

Research Team

WOOD Morning (6 February)

HEADLINES: • MLP Care: robust even in a recession (stays BUY) • MONETA Money Bank: posts strong 4Q18, strong guidance and raises dividends guidance POSITIVE • Rosneft: 4Q18 - earnings suppressed by more write-downs, but FCF & leverage reduction still on track • Raiffeisen Int.: posts mediocre preliminary 4Q18 net profit, with some negative one-offs NEGATIVE • CME: 4Q18 results review - OIBDA up 19% yoy, in line with guidance and our estimates NEUTRAL • OMV: 4Q18 results and EUR 1.75 DPS proposal • OMV Petrom: 4Q18 results and an 8% dividend yield • Lotos: 4Q18 preliminary estimates, bette...

OMV AG with less fundamental stars is reduced to Neutral

OMV AG (AT), a company active in the Integrated Oil & Gas industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date April 26, 2019, the closing price was EUR 48.33 and its expected value was estimated at EUR 47.78.

OMV

OMV

OMV

OMV

OMV AG (OMV) - Oil & Gas - Deals and Alliances Profile

Summary OMV Aktiengesellschaft (OMV) is an integrated oil and gas company. It explores for, develops and produces natural gas and crude oil. The company explores oil fields in Central and Eastern Europe; North Sea; and the Middle East and Africa. OMV also explores fields in selected development areas in New Zealand, Australia, and Madagascar; and Russia. It refines crude oil, and processes that into petroleum products. The company operates refineries in Austria, Germany, and Romania. OMV carries out gas transit through and transport within Austria, gas storage, marketing, and trading operatio...

OMV AG (OMV) - Power - Deals and Alliances Profile

Summary OMV Aktiengesellschaft (OMV) is an integrated oil and gas company. It explores for, develops and produces natural gas and crude oil. The company explores oil fields in Central and Eastern Europe; North Sea; and the Middle East and Africa. OMV also explores fields in selected development areas in New Zealand, Australia, and Madagascar; and Russia. It refines crude oil, and processes that into petroleum products. The company operates refineries in Austria, Germany, and Romania. OMV carries out gas transit through and transport within Austria, gas storage, marketing, and trading operatio...

Expert Corporate Governance Service (ECGS)

OMV - AGM 14 May 2019

Item 4: Supervisory Board Chairman Peter Löscher will resign from the Board with effect as of the close of the AGM 2019. The Company fails to disclose who will stand for the position of Chairman after the AGM. We raise our concerns over this lack of transparency. In line with our guidelines we would in principle recommend opposing the discharge of the Chairman of the Supervisory Board's Presidential and Nomination Committee ("Chairman's and Nomination Committee"), Peter Löscher. As the discharge is proposed in a bundled resolution, we recommend shareholders to oppose the discharge of the Super...

Omv Ag – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch