Alejandro (Santander)'s questions to OMV AG (OMVKY) leadership • Q1 2025
Question
An analyst from Santander, identified as Alejandro, asked for details on the weak performance of the ADNOC refining and trading business. He also questioned whether OMV was planning any divestments to offset the increase in leverage resulting from the Borouge Group International transaction.
Answer
Martijn van Koten, EVP of Fuels & Feedstock and Chemicals, attributed the ADNOC unit's performance to significantly lower refining margins in the Middle East and Asia and a lower trading result compared to an exceptionally strong prior-year quarter. CFO Reinhard Florey addressed the leverage question, stating that no major divestments are needed as the company's leverage ratio is projected to remain only slightly above 20%, well within its 30% target, even after the transaction.