OMV Petrom - Best Ever Quarterly Results In Q3/22
Best ever quarterly results in Q3/22
- OMV Petrom reported Q3/22 clean CCS EBIT at RON 4.23bn (+215% YoY) amid an exceptionally high an volatile commodity price environment. Clean CCS net income attributable to stockholders came in RON 3.65bn (+266% % YoY), implying clean CCS EPS of RON 0,0644. Cash flow from operating activities was RON 3.19bn, up by 38% YoY, mainly due to higher operating results. Cash CapEx increased significantly to RON 0.9bn from RON 0.62bn YoY, out of which upstream investments accounted for the vast majority.
- FCF after dividends came in at RON -0.07bn compared to RON 1.76bn in Q3/21. Clean ROACE improved from 9.5% to 36.7% mainly due to improved operating performance. Net cash including leases amounted to ca. RON 12.26bn at the end of September 2022, or RON 0.22 a share (ca. 49% of current market cap!).
Concorde Securities Ltd. is Hungary’s leading independent company engaged in investment banking activities. It provides its clients with integrated financial services, including securities trading, research, corporate financing advisory, capital market transactions, wealth management and investment advisory. The operational management of the company is the responsibility of the CEO, while the owners/managers (who control one-third of the company through their shares and options) are in charge of its strategic governance. Concorde Securities Ltd. is a member of the Budapest, Frankfurt, Warsaw and Bucharest stock exchanges, as well as of the Hungarian Association of Investment Service Providers.
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