Vienna, Austria — April 30, 2026 OMV Q1 profit drop due to Iran war and market volatility
Austrian energy giant OMV saw its operating profit decline in the first quarter of 2026, citing a weaker market environment exacerbated by geopolitical instability, including the Iran war.
Market Volatility and Geopolitical Impact
The company attributed the downturn to disruptions in global crude oil flows, which led to one-time operating hedging losses of approximately €100 million in its Fuels segment. The conflict in the Middle East, particularly the war in Iran, significantly influenced market conditions at the start of the year, forcing temporary production closures and contributing to natural declines in output.
OMV CEO Alfred Stern acknowledged the challenges, stating in German: *"trotz eines stark volatilen Marktumfelds und der durch den Konflikt im Nahen Osten verursachten Unterbrechungen der Lieferketten"* ("despite a highly volatile market environment and supply chain disruptions caused by the conflict in the Middle East"), the company still delivered a solid performance.
The company has adjusted its full-year 2026 forecast in response to the unstable geopolitical landscape, expecting retail margins to remain below 2025 levels.
Financial Adjustments and Future Projections
Despite the operational challenges, OMV reported a significant increase in its unadjusted period surplus, which rose from €288 million to €1.645 billion. This surge was largely due to an €886 million gain from the deconsolidation of the Borealis group, a strategic move that bolstered the company’s financial position.