9M 2016 results: return to positive FCF after dividends despite....
OMV’s 9M 2016 figures were marked by the continuing decline in oil and gas prices. Nevertheless, the company’s positive FCF in 9M 2016 was a clear success. The company also was FCF positive after dividends for the first time since 2012 and one year ahead of target. It seems the company can be FCF positive at reduced capex; it plans keep its capex level low at least until 2020. - OMV currently has five divestment projects at various stages of completion: 1/ sale of a 49% stake in Gas Connect Austria 2/ sale of a 30% stake in Rosebank, 3/ sale of the Aliaga Terminal in Turkey, 4/ sale of the UK Upstream subsidiary, and 5/ sale of Petrol Ofisi in Turkey. On aggregate, these projects could lead to proceeds of >€ 3bn in 2016-17. - - - - - - - - - - - - >OMV is an international energy company with activities in Exploration and Production (E&P), Refining and Marketing including petrochemicals (R&M), and Gas and Power (G&P). Co. explores and develops oil and gas resources and supply energy to over 100 million people. OMV has three operating segments: Exploration and Production (E&P), Refining and Marketing, including petrochemicals (R&M), and Gas and Power (G&P), as well as the segment Corporate and Other (Co&O).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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