OMV AG - Company Profile
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Business Description
OMV AG (OMV) produces, refines, and markets oil and natural gas. The company also imports, transports, and stores gas. It has operations across Europe, the Middle East and Africa, Australia, Madagascar, and New Zealand.
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R&D Overview
OMV is actively pursuing R&D initiatives focused on developing technologies that contribute to sustainability targets and researching breakthrough technologies. The company is working on areas such as the circular economy, fuels and feedstock innovation, new energy technologies, and biotechnology. Key projects include the development of eSAF, chemical recycling, carbon capture and utilization, hydrogen production, and new feedstock engineering. OMV collaborates with partners from academia, private research institutes, and start-ups to drive innovation and has a strong focus on intellectual property protection and technology licensing. The R&D units of OMV include the centralized Innovation & Technology department established in 2023 and the innovation organization at Borealis. The central Innovation & Technology department focuses on strategic and transformative topics across all business segments, while Borealis conducts product-related and applied innovation work. These units are responsible for managing the company's R&D activities, including the development of new technologies and collaboration with external partners. OMV has several R&D centers, including Borealis' three innovation hubs in Linz (Austria), Stenungsund (Sweden), and Porvoo (Finland). The company has major technology alliances, such as the investment agreement with InnoEnergy and collaboration with the University Industry Innovation Network (UIIN). In FY2024, the R&D expenses of the company stood at EUR87 million, which stood at 0.3% of company’s revenue.
Business Segments
Overview
Includes sale of petrochemical and all other chemicals in the OMV Group. It provides advanced and circular polyolefin solutions. In FY2024, the segment incurred a capital expenditure of EUR1,081 million, which declined 19.6% YoY.
Performance
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Overview
Corporate and Other revenue mainly includes revenue from commodity transactions.
Performance
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Overview
Carries out the business of oil and gas exploration, development and production. In FY2024, the segment incurred a capital expenditure of EUR1,972 million, which grew 24.7% YoY.
Performance
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Overview
Refines and markets crude oil and other feedstock. In FY2024, the segment incurred a capital expenditure of EUR980 million, which decreased 0.4% YoY.
Performance
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Geographical Segments
- Austria
- Belgium
- Germany
- New Zealand
- Norway
- Rest of CEE
- Rest of Europe
- Rest of the world
- Romania
- United Arab Emirates
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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