WEBVTT 00:00:05.040 --> 00:00:09.120 2023 was another successful year for OMV. 00:00:09.120 --> 00:00:13.680 Despite geopolitical volatility and slowing economy, 00:00:13.680 --> 00:00:16.440 we achieved the second-highest result 00:00:16.440 --> 00:00:19.560 in the history of the company. 00:00:19.560 --> 00:00:22.840 In a nutshell, we generated 00:00:22.840 --> 00:00:25.920 39 billion euros in Sales. 00:00:25.920 --> 00:00:30.760 A clean CCS Operating Result of 6 billion euros, and a cash flow 00:00:30.760 --> 00:00:35.200 from operating activities of 5.7 billion euros. 00:00:36.040 --> 00:00:40.320 Additionally, we are proposing, on top of the regular dividend, 00:00:40.320 --> 00:00:43.960 a special dividend for the second consecutive year. 00:00:45.400 --> 00:00:47.720 First of all, our dividend 00:00:47.720 --> 00:00:50.520 is great news for our shareholders! 00:00:50.520 --> 00:00:53.160 We want them to be part of our success. 00:00:53.160 --> 00:00:56.360 We will be proposing the highest regular dividend 00:00:56.360 --> 00:01:01.080 in the history of OMV of 2.95 euros, 00:01:01.080 --> 00:01:04.240 which is in line with our progressive dividend policy. 00:01:04.240 --> 00:01:07.800 On top of that there is the special dividend 00:01:07.800 --> 00:01:10.920 of 2.10 euros. 00:01:10.920 --> 00:01:14.880 This special dividend is an additional instrument for us 00:01:14.880 --> 00:01:19.560 and we believe it makes our stock even more attractive. 00:01:19.600 --> 00:01:26.560 As a general rule, we aim to distribute approximately 20 to 30 percent of the cash flow 00:01:26.560 --> 00:01:31.400 from operating activities including net working capital effects. 00:01:31.400 --> 00:01:36.160 This is of course on the condition that sufficient funds are available 00:01:36.160 --> 00:01:39.800 and the company’s leverage ratio is below 30 percent. 00:01:41.080 --> 00:01:44.560 The numbers show clearly that OMV is on track 00:01:44.560 --> 00:01:48.280 with the implementation of our Strategy 2030. 00:01:48.280 --> 00:01:53.000 It is the largest transformation our company has ever seen. 00:01:53.000 --> 00:01:56.200 We are making good progress and moving toward becoming 00:01:56.200 --> 00:01:59.720 a net-zero company by 2050. 00:01:59.720 --> 00:02:05.520 Today, OMV is uniquely positioned with its integrated business model: 00:02:05.520 --> 00:02:08.720 Energy, Fuels & Feedstock, 00:02:08.720 --> 00:02:11.880 and Chemicals & Materials. 00:02:11.880 --> 00:02:16.800 At OMV, we are proud of our solutions for the circular economy. 00:02:16.800 --> 00:02:19.800 This means, that we convert waste 00:02:19.840 --> 00:02:22.560 into valuable raw materials. 00:02:22.560 --> 00:02:27.240 One such project is the largest sorting facility for mixed plastic waste in Europe, 00:02:27.240 --> 00:02:33.320 which we are building together with our partner Interzero. 00:02:33.320 --> 00:02:36.000 The ground-breaking ceremony took place in Walldürn, 00:02:36.000 --> 00:02:39.240 Germany, in November 2023. 00:02:39.240 --> 00:02:43.480 The plant is planned to start operating in 2026 00:02:43.480 --> 00:02:47.560 and then enable the processing of used plastics 00:02:47.560 --> 00:02:52.560 that would otherwise end up in landfill or incineration plants. 00:02:52.560 --> 00:02:58.080 This material can be converted into valuable secondary raw materials 00:02:58.080 --> 00:03:02.040 using our patented ReOil® chemical recycling technology. 00:03:02.920 --> 00:03:05.280 This approach helps to conserve 00:03:05.280 --> 00:03:08.880 resources and reduce CO2 emissions. 00:03:10.200 --> 00:03:12.480 The next stage of our ReOil® plant 00:03:12.480 --> 00:03:15.360 is being built at our refinery in Schwechat 00:03:15.360 --> 00:03:18.480 and is scheduled to start up this year. 00:03:18.480 --> 00:03:22.960 Good news came also from our subsidiary company Borealis, 00:03:22.960 --> 00:03:27.960 where we successfully completed a major construction project. 00:03:27.960 --> 00:03:29.640 In 2023, 00:03:29.640 --> 00:03:35.800 a new Borstar® polyethylene plant went into operation in Pasadena, Texas. 00:03:35.800 --> 00:03:40.480 This plant, which forms part of the Baystar™ joint venture between Borealis 00:03:40.480 --> 00:03:44.200 and TotalEnergies, is a fully integrated 00:03:44.200 --> 00:03:48.360 ethane to polyethylene complex with the capacity 00:03:48.360 --> 00:03:51.360 to produce around 1 million tons per year. 00:03:52.120 --> 00:03:57.280 The Borstar® technology delivers advanced polymers with high added value 00:03:57.280 --> 00:04:01.360 and improved sustainability for a variety of products. 00:04:02.280 --> 00:04:06.480 Of course! In 2023, we made great progress 00:04:06.480 --> 00:04:10.680 with Sustainable Aviation Fuel – also known as SAF. 00:04:10.680 --> 00:04:14.960 These fuels help to reduce CO2 emissions in air traffic 00:04:14.960 --> 00:04:20.040 by more than 80 percent compared to conventional kerosine. 00:04:20.040 --> 00:04:23.240 The increasing demand for sustainable mobility 00:04:23.240 --> 00:04:26.240 is the basis of this promising business segment. 00:04:27.240 --> 00:04:28.400 Already today, 00:04:28.400 --> 00:04:32.240 OMV offers biobased fuels that are produced based on 00:04:32.240 --> 00:04:34.880 pretreated vegetable oils. 00:04:34.880 --> 00:04:37.480 We also utilize waste products 00:04:37.480 --> 00:04:40.480 such as used cooking oil for production. 00:04:41.040 --> 00:04:44.760 Last year, we concluded further purchase agreements 00:04:44.760 --> 00:04:48.360 for SAF with major airlines such as Ryanair 00:04:48.360 --> 00:04:51.600 and Air France-KLM. 00:04:51.600 --> 00:04:56.640 A further innovative step forward was taken when OMV signed an agreement 00:04:56.640 --> 00:05:00.280 with Microsoft for the purchase of SAF certificates. 00:05:00.720 --> 00:05:06.680 With these certificates we support companies in achieving their climate targets. 00:05:06.680 --> 00:05:09.400 OMV transfers the environmental 00:05:09.400 --> 00:05:12.600 benefits of SAF to a certificate, 00:05:12.600 --> 00:05:16.120 and customers like Microsoft can then use them 00:05:16.120 --> 00:05:19.440 to decarbonize their own business aviation 00:05:19.440 --> 00:05:22.080 and supply chain logistics. 00:05:22.080 --> 00:05:24.160 And it doesn’t stop there. 00:05:24.160 --> 00:05:29.280 OMV even contributes to the decarbonization of passenger traffic. 00:05:29.280 --> 00:05:34.640 In 2023, we launched “OMV eMotion.” 00:05:34.640 --> 00:05:37.200 Under this brand, we are building a network 00:05:37.200 --> 00:05:41.880 of high-performance charging stations for electric vehicles. 00:05:41.880 --> 00:05:43.160 By 2030, 00:05:43.160 --> 00:05:46.440 there will be a total of 2,000 new charging points 00:05:46.440 --> 00:05:49.480 in OMV’s European distribution network. 00:05:49.480 --> 00:05:55.800 Our customers will then be able to refuel with green electricity at OMV 00:05:55.800 --> 00:06:01.920 filling stations and other locations in Austria, Romania, Slovakia, and Hungary. 00:06:03.280 --> 00:06:04.920 Very positive! 00:06:04.920 --> 00:06:07.400 There are great projects in the pipeline 00:06:07.400 --> 00:06:09.720 in our largest division. 00:06:09.720 --> 00:06:11.400 We are continuing to work on 00:06:11.400 --> 00:06:14.800 diversifying our energy sources and made 00:06:14.800 --> 00:06:17.800 significant progress in 2023. 00:06:18.200 --> 00:06:21.960 The most relevant achievement was the Final Investment Decision 00:06:22.320 --> 00:06:26.120 for the Neptun Deep project in the Black Sea in Romania. 00:06:26.120 --> 00:06:29.160 There, OMV Petrom and Romgaz 00:06:29.160 --> 00:06:32.760 are jointly investing up to 4 billion euros. 00:06:33.400 --> 00:06:36.280 The project will enable around 100 billion 00:06:36.280 --> 00:06:39.720 cubic meters of natural gas to be extracted. 00:06:39.720 --> 00:06:43.640 We are well on track, with more than 80 percent of the execution 00:06:43.640 --> 00:06:46.720 contracts having now been awarded. 00:06:46.720 --> 00:06:49.440 Last year, we selected renowned 00:06:49.440 --> 00:06:54.360 international contractors and suppliers that have the skills 00:06:54.360 --> 00:06:58.200 and experience to realize this complex project. 00:06:58.200 --> 00:07:01.320 Drilling is scheduled to begin in 2025 00:07:01.320 --> 00:07:05.320 and we expect first production in 2027. 00:07:06.120 --> 00:07:11.160 At that point, our Neptun Deep project will make Romania 00:07:11.160 --> 00:07:15.520 the largest natural gas producer in the EU. 00:07:15.520 --> 00:07:19.600 The second example is in Wittau, in Lower Austria, 00:07:19.600 --> 00:07:25.400 where our test drilling at a depth of 5,000 meters gave positive results in that 00:07:25.400 --> 00:07:28.560 we were able to confirm the largest gas 00:07:28.560 --> 00:07:31.800 discovery in Austria in the last 40 years. 00:07:31.800 --> 00:07:34.720 Once the reservoir has been fully developed, 00:07:34.720 --> 00:07:40.200 we anticipate a production volume of around 48 TWh. 00:07:40.200 --> 00:07:44.280 This corresponds to an increase of around 50 percent 00:07:44.280 --> 00:07:48.000 compared to our current production in Austria. 00:07:48.000 --> 00:07:51.320 And a third innovative example from the Energy division 00:07:51.320 --> 00:07:54.440 is the joint venture “deeep,” which we founded 00:07:54.440 --> 00:07:57.840 with Wien Energie in November 2023. 00:07:57.840 --> 00:08:02.960 Our aim is to make climate-neutral geothermal district heating for up 00:08:02.960 --> 00:08:08.840 to 200,000 households a reality here in Vienna in just a few years. 00:08:10.000 --> 00:08:14.640 For 2024, there is a lot in store for OMV. 00:08:14.640 --> 00:08:17.280 New milestones are yet to come. 00:08:17.280 --> 00:08:22.440 We will invest 3.8 billion euros across our business segments of Energy, 00:08:22.440 --> 00:08:25.920 Fuels & Feedstock, and Chemicals & Materials, 00:08:25.920 --> 00:08:29.720 including in a number of sustainable projects. 00:08:29.720 --> 00:08:35.560 I am convinced that the success of any company will depend on its ability 00:08:35.560 --> 00:08:40.720 to use sustainability as an engine for innovation and growth. 00:08:40.720 --> 00:08:45.800 And OMV is excellently positioned to thrive in that space.