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    Matt Smith • Bank of America

    Matt Smith's questions to OMV AG (OMVKY) leadership

    Matt Smith's questions to OMV AG (OMVKY) leadership • Q1 2025

    Question

    Matt Smith from Bank of America sought clarification on the Borouge Group International (BGI) floor dividend, asking if it was a fixed amount or a percentage of net income. He also asked about the drivers behind recent improvements in chemical spreads and their potential sustainability.

    Answer

    CFO Reinhard Florey clarified that the BGI floor dividend is a fixed amount of approximately $2.2 billion for the group, translating to about $1 billion net cash inflow for OMV. On chemical margins, Florey noted that opportunities arise from shifting the product mix towards higher-grade specialties. An executive added that OMV's integrated business model provides resilience, as weaker refining margins can lead to expanded margins for its European crackers.

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    Matt Smith's questions to Lemonade Inc (LMND) leadership

    Matt Smith's questions to Lemonade Inc (LMND) leadership • Q3 2024

    Question

    Matt Smith inquired about Lemonade's long-term strategy for its homeowners insurance line, asking if it will remain a shrinking part of the business or if there are plans to reaccelerate growth once market dynamics improve.

    Answer

    President Shai Wininger explained that while home is an important customer need, Lemonade will be selective, using a flexible model of its own paper, reinsurance, or third-party paper to manage volatility. He noted that the company's competitive advantage is more pronounced in other products like car and pet. However, he also pointed out that Lemonade is expanding its homeowners product on its own paper in European markets like France and the U.K., where catastrophe exposure is significantly lower.

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