Strong Refining Performance
The OMV refining indicator margin rose strongly to $11.5 per barrel, more than doubling compared to the prior year quarter. The Fuels segment more than doubled its clean operating result to EUR 413 million, driven by stronger refining margins and improved utilization rates.
Increased Clean CCS Operating Result
OMV's clean CCS operating result increased by about 20% to almost EUR 1.3 billion compared with both the prior year quarter and the second quarter of this year.
Strong Cash Flow Excluding Working Capital Effects
Operating cash flow, excluding net working capital effects, was very strong at around EUR 1.5 billion, an increase of almost 80% compared to the previous quarter.
Improved Utilization in Chemicals
The utilization rate of European crackers increased slightly, and the clean operating result of Chemicals increased significantly to EUR 222 million.
Significant Progress in Borouge Group Deal
OMV is making good progress with regulatory approvals for the Borouge Group International deal, expecting to close the transaction by the first quarter of next year.