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OMV PETROM S.A.

(SNP)
  Report
End-of-day quote Bucharest Stock Exchange  -  2023-01-26
0.4500 RON   +0.11%
01/12Omv Petrom S.A. Reports Production Results for the Fourth Quarter Ended December 31, 2022
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01/12Omv Petrom S.A. Reports Sales Results for the Fourth Quarter Ended December 31, 2022
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2022Adhoc report - Changes in the Supervisory Board
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OMV Petrom S A : started the local production of AdBlue, following an investment of approximately EUR 800.000

11/14/2022 | 04:42am EST
OMV Petrom started the local production of AdBlue, following an investment of approximately EUR 800.000
  • AdBlue usage reduces nitrogen oxide emissions from diesel engines by up to 90%

OMV Petrom, the largest integrated energy company in South-Eastern Europe, has begun production of AdBlue, an essential product for reducing emissions of diesel engines. In the first phase, AdBlue will be sold in OMV and Petrom filling stations and starting next year it will be also sold in other networks.

The company thus meets the growing demand for this product, amid the increase in the number of commercial vehicles in Romania.

Radu Căprău, Member of the Directorate responsible for Refining & Marketing: "The start of AdBlue production was a priority for us as we expect the demand for this product to increase. We expect the demand for AdBlue in the Romanian market will increase by over 30% by 2027 compared to this year, to a level of about 130 million liters."

AdBlue is a standard product used for modern diesel engines. It is composed of about 1/3 urea and 2/3 demineralized water. The new production capacity is located in the south of Bucharest, and the investments necessary for the project amounted to approximately EUR 800.000.

Find here more details about AdBlue production.

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 47 million boe in 2021. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency power plant. The Group is present on the oil products retail market in Romania and neighboring countries through approximately 790 filling stations under two brands - OMV and Petrom.

OMV Petrom shares are traded on the Bucharest Stock Exchange and the London Stock Exchange. OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian State, through the Ministry of Energy, holds 21% of OMV Petrom shares, and 28% is owned by natural and legal persons.

OMV Petrom is the largest contributor to the state budget, with approximately 35 billion euro in taxes and dividends paid between 2005 and 2021. During the same period, the company invested approximately 17 billion euro.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2021, the company has allocated over 80 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.

Disclaimer

OMV Petrom SA published this content on 14 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2022 09:41:06 UTC.


ę Publicnow 2022
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01/12Omv Petrom S.A. Reports Production Results for the Fourth Quarter Ended December 31, 20..
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Financials
Sales 2022 56 735 M 12 580 M 12 580 M
Net income 2022 10 676 M 2 367 M 2 367 M
Net cash 2022 12 805 M 2 839 M 2 839 M
P/E ratio 2022 2,72x
Yield 2022 24,4%
Capitalization 27 497 M 6 097 M 6 097 M
EV / Sales 2022 0,26x
EV / Sales 2023 0,31x
Nbr of Employees 7 768
Free-Float 32,2%
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Mean consensus BUY
Number of Analysts 6
Last Close Price 0,45 RON
Average target price 0,67 RON
Spread / Average Target 48,6%
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Managers and Directors
Christina Verchere Chairman-Executive Board & Chief Executive Officer
Alina-Gabriela Popa Chief Financial Officer
Alfred Stern Chairman-Supervisory Board
Jochen Weise Independent Member-Supervisory Board
Marius Stefan Independent Member-Supervisory Board
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