OMV reported clean CCS EBIT of EUR1.04 billion, down 34% from EUR1.58 billion in the first six months of last year. Clean CCS figures exclude inventory holding gains/losses (CCS effects) resulting from the fuels refineries and Petrol Ofisi.
The group’s EBIT for the period was EUR908 million, versus EUR1.93 billion a year earlier. Petrom’s contribution fell 30% on year to EUR470 million.
“In the first half of 2014, our results were adversely impacted by lower refining margins, a weaker US dollar and political instability in Libya and Yemen,” said Gerhard Roiss, Chief Executive Officer of OMV.
OMV posted consolidated sales of EUR19.13 billion in the first half, down 10% on the year.
OMV holds a 51% stake in Petrom.
Petrom reported a net profit of 1.38 billion lei (EUR312 million) in the January-June period, down 42% from RON2.4 million reported a year earlier. (EUR1=RON4.4415)