OMV reports strong CCS results in the third quarter of 2026

In the Energy segment, the operating result before special items increased by 51 percent to EUR 936 million. Free cash flow before special items rose by 70 percent to EUR 1.234 billion, while cash flow from operating activities increased by 101 percent to EUR 2.199 billion.

Working capital stood at EUR 2.334 billion at the end of the quarter, 57 percent above the prior-year figure. The higher free cash flow was primarily achieved through higher prices and a positive contribution from working capital.

In the Fuels segment, the European refinery reference margin improved by 225 percent to USD 37.50 per barrel. Utilization at European refineries increased by one percentage point to 92 percent, while fuel and other sales volumes in Europe grew by four percent to 4.57 million metric tons.

CCS and fuels drive the result

Developments in the CCS segment were particularly strong: The operating result before special items increased by 172 percent to EUR 1.124 billion. The business therefore made a significant contribution to the group result, which improved by EUR 200 million, or 27 percent.

In the Chemicals division, the European ethylene reference margin increased by 18 percent to EUR 675 per metric ton, while the propylene reference margin rose by 35 percent to EUR 604 per metric ton. Utilization of OMV's steamcracker increased by three percentage points to 82 percent.

Chemicals division under pressure

Despite higher reference margins, the Chemicals division's operating result before special items fell to EUR 63 million due to unfavorable inventory and market developments. This represented a 72 percent decline compared with the prior year.

Outlook for 2026

For the current year, OMV plans organic investments of around EUR 3.5 billion, increasing the previously expected amount of around EUR 3.4 billion. The company now expects an average Brent price of more than USD 95 per barrel.

An average realized gas price of around EUR 45 per megawatt-hour is expected, while the THE price forecast has risen to more than EUR 55. OMV expects hydrocarbon production of around 290,000 barrels of oil equivalent per day, subject to geopolitical developments.

OMV expects utilization at its European refineries to exceed 90 percent. The refinery reference margin is expected to be around USD 25 per barrel, above the previously expected level of USD 20.