OMV AG (ADR) (OTCMKTS:OMVKY) (ETR:OMV) (FRA:OMV) released its financial results for 2Q 2013 this morning and revealed that the EPS for OMV stood at 0.981, slightly below the consensus estimates of 0.9825. Overall company revenues grew at a reasonable pace but the EBIT was unable to keep up with the growth amidst declining refining margins and gas and power issues. As a result, clean CCS EBIT declined by 15.3% YoY. Table 1: Financial Summary of OMV for Q2 2013 The company’s strategy to strengthen its hold in the upstream sector resulted in strong numbers for the E&P business segment. OMV AG (ADR)…
Lower Refining Margins Hurts EBIT for OMV
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.