OMV Experienced 21 Percent Drop in EBIT

Hira Shahnawaz Akhtar

Published onNovember 7, 2013

Updated on May 13, 2021

OMV AG (ADR) (OTCMKTS:OMVKY) (ETR:OMV) (FRA:OMV) has just revealed its financial statements for 3Q2013 and has realized a clean CCS EBIT of EUR 619 million, down 21% on a YoY basis. The Austrian firm also realized a clean CCS net income of EUR 263 million, 17% down YoY.

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OMV’s EBIT dragged down

EBIT was dragged down by decline in incomes of all three business segments. The EBIT of the exploration and production segment dropped 6% while the EBIT in gas and power segment went negative. The earnings of the refining and marketing segment were the primary issue, however; the EBIT of that segment dropped 60% YoY.

Figure 1: EBIT...

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Hira Shahnawaz Akhtar

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.

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OMV Experienced 21 Percent Drop in EBIT

OMV’s EBIT dragged down

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