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MarketScreener Homepage  >  Equities  >  WIENER BOERSE AG  >  OMV Aktiengesellschaft    OMVV   AT0000743059

OMV AKTIENGESELLSCHAFT

(OMVV)
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OMV : Austria's OMV, AustroCel Cooperate to Supply Advanced Bioethanol

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10/03/2019 | 05:09am EST

By Giulia Petroni

Austria's OMV AG (OMV.VI) said Thursday it signed an agreement with AustroCel Hallein GmbH to supply advanced bioethanol in an effort to meet sustainability goals.

AustroCel is investing 42 million euros ($46 million) in the construction of the bioethanol plant.

"When completed, we should be able to replace around one percent of gasoline consumption in Austria and reduce CO2 emissions by approximately 50,000 tons," said AustroCel Chief Executive Joerg Harbring.

Advanced bioethanol is a second-generation biofuel whose components are derived from a sustainable resource base.

Construction work is underway in the city of Hallein and the first supplies of bioethanol are expected to leave the facility in early 2021, OMV said.

Write to Giulia Petroni at giulia.petroni@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
OMV AKTIENGESELLSCHAFT 0.47% 50.78 End-of-day quote.31.55%
WTI 1.17% 59.02 Delayed Quote.24.23%
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Financials (EUR)
Sales 2019 22 581 M
EBIT 2019 3 714 M
Net income 2019 1 770 M
Debt 2019 4 476 M
Yield 2019 3,82%
P/E ratio 2019 9,37x
P/E ratio 2020 8,90x
EV / Sales2019 0,93x
EV / Sales2020 0,93x
Capitalization 16 600 M
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Number of Analysts 22
Average target price 55,40  €
Last Close Price 50,78  €
Spread / Highest target 22,1%
Spread / Average Target 9,10%
Spread / Lowest Target -11,4%
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Rainer Seele Chairman-Executive Board & Chief Executive Officer
W. Christian Georg Berndt Chairman-Supervisory Board
Thomas Gangl Chief Downstream & Operations Officer
Reinhard Florey Chief Financial Officer
Alyazia Ali Saleh Al-Kuwaiti Second Deputy Chairman-Supervisory Board
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