Full Year 2024 OMV Petrom SA Earnings Call Transcript
Key Points
- OMV Petrom SA (BSE:SNP) achieved significant progress in renewable energy projects, adding approximately 1.9 gigawatts of renewable capacity to its portfolio in 2024.
- The company increased its electric vehicle charging network from 270 units in 2023 to around 900 units by the end of 2024, with plans to expand further.
- OMV Petrom SA (BSE:SNP) maintained a high refinery utilization rate of 98% in the fourth quarter of 2024, contributing positively to operational performance.
- The company paid ZAR4.4 billion in dividends to shareholders, reflecting a strong commitment to shareholder returns.
- OMV Petrom SA (BSE:SNP) reported a 23% increase in share price over 2024, leading to a total shareholder return of 36% for the year.
- The company's clean CCS operating result decreased by 57% year-on-year in the fourth quarter of 2024, impacted by weak commodity prices and regulatory challenges.
- OMV Petrom SA (BSE:SNP) faced a 76% decline in operating cash flow in the fourth quarter of 2024 compared to the previous year.
- The Romanian macroeconomic environment showed a slowdown, with GDP growth projections for 2024 and 2025 being revised downward.
- The company is subject to new fiscal measures, including a 1% tax on construction assets and a 0.5% turnover tax, which could impact financial performance.
- OMV Petrom SA (BSE:SNP) recorded impairments in its exploration and production segment due to increased operating costs, reflecting inflationary pressures.
Good afternoon, ladies and gentlemen and welcome to the OMV Petrom earnings call. Today's presentation will last around 30 minutes and will be recorded by now. You should have received the presentation by email. The slides and the speech are also available online on www.omv Petrom dotcom in the investors section. These also include the cautionary statement regarding forward-looking statements. Now let me hand over to Simona Crutu, Manager of the Investor relations and stakeholder engagement department who will moderate the event.
Good afternoon. Ladies and gentlemen, thank you for joining us. We'll have a presentation followed by a Q&A Session. Christina Verchere, Chief Executive Officer will provide the key highlights about the 2030 strategy execution, the macro-economic and regulatory environment and the performance of our business segments. Alina Copa, Chief Financial Officer will give you more details on our financial performance and the brief outlook afterwards. All executive board members will be
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