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OMV PETROM S.A.

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05/11OMV PETROM S A : Results on the votes on the Resolutions of the Ordinary General Meeting of Shareholders of OMV Petrom S.A. held on April 27, 2022 (PDF, 158,5 KB)
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05/11OMV PETROM S A : Results on the votes on the Resolutions of the Extraordinary General Meeting of Shareholders of OMV Petrom S.A. held on April 27, 2022 (PDF, 196,5 KB)
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OMV Petrom and the European Innovation Council provide support to SMEs promoting innovative projects in the energy sector

11/11/2021 | 04:07am EDT
OMV Petrom and the European Innovation Council provide support to SMEs promoting innovative projects in the energy sector

OMV Petrom, the largest energy company in South-Eastern Europe, and the European Innovation Council (EIC), the European Union's innovation programme, join forces to organize dedicated EIC Corporate Day, the first of its kind in Romania.

During this matchmaking event OMV Petrom will invite some of Europe's most innovative small and medium enterprises (SMEs) to pitch, meet and conduct business. All selected EIC participants are working on innovations in the energy sector based on advanced technologies that meet the objectives of the climate agenda.

Christina Verchere, CEO OMV Petrom: "The energy transition is a strategic priority for OMV Petrom and we are committed to supporting it. We believe in the power of small and medium-sized companies to come up with innovative solutions in the energy sector, and we want to support those projects based on new sustainable technologies, being open to new collaborations, partnerships and business opportunities."

The areas of interest for OMV Petrom include innovative energy storage solutions, technologies for a circular economy, new technologies for solar photovoltaic systems, projects involving carbon capture and storage and/or in combination with blue hydrogen production, non-classical geothermal solutions for power generation and turquoise hydrogen production resulting from methane pyrolysis.

EIC-funded SMEs can apply to the event via the EIC Community, the deadline for the submission being November 18, 2021.

The selected SMEs will be invited to the EIC Corporate Day with OMV Petrom, which will take place on 26-27 January 2022. Both before and during the event they will have access to thematic trainings and will present their projects for potential collaborations with OMV Petrom.

About the European Innovation Council

The European Innovation Council (EIC) supports top-class innovators, entrepreneurs, small companies and scientists with bright ideas and the ambition to scale up internationally.
The European Innovation Council is a key novelty of Horizon Europe and represents the most ambitious innovation initiative that Europe has taken, with a budget of €10.5 billion during 2021-2027. Support to innovators, entrepreneurs, small companies and scientists under the European Innovation Council goes far beyond a grant provision.

The EIC offers several business acceleration services that help speed up the pace of innovation, including business coaching and flagship services like EIC Corporate Days and EIC Investor Days, where highly innovative SMEs can take advantage of pitching and partnering opportunities with investors and corporates. In addition, the EIC has recently launched the EIC Greenhouse Gas (EIC GHG) programme, where SMEs receive expert support and guidance to reduce their greenhouse gas emissions and co-create green innovations.

About OMV Petrom

OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. 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 787 filling stations, at the end of September 2021, under two brands - OMV and Petrom.

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 20.6% of OMV Petrom shares, Fondul Proprietatea holds 7%, and 21.4% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with contributions of approximately 32 billion euro in taxes and dividends paid between 2005 and 2020.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2020, the company has allocated approximately 72 million euros 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 11 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 November 2021 09:06:02 UTC.


© Publicnow 2021
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Financials
Sales 2022 36 349 M 7 748 M 7 748 M
Net income 2022 5 286 M 1 127 M 1 127 M
Net cash 2022 11 595 M 2 472 M 2 472 M
P/E ratio 2022 4,80x
Yield 2022 8,21%
Capitalization 25 348 M 5 403 M 5 403 M
EV / Sales 2022 0,38x
EV / Sales 2023 0,44x
Nbr of Employees 7 907
Free-Float 25,4%
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Number of Analysts 7
Last Close Price 0,45 RON
Average target price 0,59 RON
Spread / Average Target 31,0%
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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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