OMV Group Report Q4 and full year 2016
- Clean CCS EBIT at EUR 315 mn
- Clean CCS net income attributable to stockholders at EUR 153 mn;
- Clean CCS Earnings Per Share of EUR 0.47
- Strong free cash flow after dividends including non-controlling interest changes of EUR 803 mn
Highlights full year 2016:
- Clean CCS EBIT at EUR 1,110 mn
- Clean CCS net income attributable to stockholders at EUR 995 mn; clean CCS Earnings Per Share of EUR 3.05
- Strong free cash flow after dividends including non-controlling interest changes of EUR 1,105 mn
- Proposed Dividend per share of EUR 1.20
Rainer Seele, CEO of OMV:
“The year 2016 was one of transformation for OMV. We have taken significant steps towards reshaping the portfolio of OMV and our total divestment efforts generated EUR 1.7 bn of proceeds. In Q4/16, we also increased our stake in four Exploration and Production Sharing Agreements in the Sirte Basin in Libya.
Through Group-wide cost reductions and efficiency efforts, OMV saved EUR 200 mn, EUR 100 mn ahead of target. OMV delivered a robust clean CCS EBIT of EUR 1,110 mn in 2016 supported by a strong Downstream result. The Group generated free cash flow after dividends, including non-controlling interest changes, of EUR 1.1 bn, EUR 1.7 bn higher than the previous year.
The Executive Board of OMV proposes to the Annual General Meeting a dividend per share of EUR 1.20.”