OMV Energy segment result jumps 51% to €936 million in third quarter
Key Facts
OMV raised its clean operating result for the Energy segment by 51% to €936 million in the third quarter of 2026, compared with €622 million in the same period a year earlier, according to the company’s statement. The increase came despite a 26% decline in hydrocarbon sales to 225 thousand barrels of oil equivalent per day. The company attributed the lower volumes mainly to the inability to ship supplies from the Middle East because of the conflict and logistical restrictions, alongside lower sales in Norway and Romania for other reasons. Market gains of €515 million, reflecting higher realized oil and gas prices, more than offset the impact of lower shipments. OMV said higher oil and gas prices supported the result, while segment results showed a clear divergence between Fuels and Chemicals.
At group level, the clean operating result on a CCS basis reached about €2.117 billion, up 68% from the third quarter of 2025. Clean net income attributable to the parent company’s shareholders rose 94% to €1.153 billion. Revenue from continuing operations also reached €8.959 billion, an increase of 43%, according to OMV’s statement. Cash flow from operating activities, excluding the effect of net working capital, was €2.334 billion, up 57% year on year. The figures highlight a broad improvement from the Energy segment result to group indicators, with growth sources varying across the company’s businesses.
The Fuels segment was the biggest beneficiary of improved market conditions, with its clean operating result on a CCS basis rising to €1.124 billion from €413 million in the third quarter of 2025. The company said the result benefited from higher refining margins, high utilization rates and a favorable product mix. These factors were partly offset by a lower contribution from the retail business. By contrast, the clean operating result for the Chemicals segment fell to €63 million, down 72% year on year. OMV attributed Chemicals’ performance to lower market prices compared with the favorable conditions that prevailed in the second quarter.
On the production side, hydrocarbon output fell 3% to 294 thousand barrels of oil equivalent per day in the third quarter. OMV said the Middle East conflict was the main reason some volumes could not be shipped, while lower sales in Norway and Romania contributed for other reasons. The company said the shipment shortfall would be addressed through future shipments. The quarter’s results therefore combined pressure on volumes sold with price gains that helped support the Energy segment result.
OMV forecast that the average Brent crude price would exceed $95 per barrel in 2026 and that the average realized gas price would be about €45 per megawatt-hour. It also forecast total hydrocarbon production of about 290 thousand barrels of oil equivalent per day during the year. Brent futures had reached $115.32 per barrel on Wednesday, 28 October 2026, according to Reuters, before the company announced its results on 29 October. In the initial reaction to the results, OMV shares rose 0.7% in early trading on 29 October, according to Reuters. EL7 data recorded OMVKY shares closing at $19.99 on 6 November 2026.
OMV set 4 February 2027 as the date for publishing its January–December 2026 results, according to its official financial calendar. The annual results will be the next milestone in assessing the impact of oil and gas prices on the company’s performance during the year. The company’s results page also said a trading update and fourth-quarter 2026 results would be published during 2027, without specifying a day. The company’s production and price forecasts provide a framework for tracking results for the rest of the year. The recovery of shipments that could not be sent from the Middle East remains part of the volume trajectory the company outlined.