Dear Shareholders,
dear readers,
2025 was a challenging year. Economic uncertainty, geopolitical tension, and noticeable changes in global energy markets and supply chains shaped the environment in which our Company operated. At the same time, it once again became clear how critical a secure energy supply is for our prosperity and the functioning of society.
In times like these, we are reminded of what really matters: resilience, a clear strategic direction – and people that take responsibility. We used 2025 to grow our Company, advancing our transformation with determination and setting OMV on a sustainable path for the future.
Despite the challenging environment, we achieved a solid result in the 2025 financial year. The clean CCS Operating Result was around 4.6 billion euros. Cash flow from operating activities stood at 5.2 billion euros, while our leverage ratio including lease liabilities was 14 percent. Our efficiency program contributed significantly to this with 350 million euros. Our financial strength gives us the necessary scope for targeted capital expenditure and to chart a course for the implementation of our Strategy 2030. We are also consistently pursuing our attractive dividend policy. The Executive Board and the Supervisory Board propose a regular dividend of 3.15 euros per share and an additional dividend of 1.25 euros per share for the 2025 financial year – resulting in a total dividend of 4.40 euros per share. In total, we have been able to increase our regular dividend by over 30% in the past four years and this year – for the fourth time in a row – we will again distribute an additional dividend.
Our integrated business model comprising Energy, Fuels, and Chemicals has again proven its worth, allowing us the flexibility to react to volatile markets and make sound, long-term decisions. We are making a big difference in terms of energy supply in particular. For example, with our diversified gas portfolio, we are enhancing the stability of the gas supply for our customers – in Austria, in Europe, and beyond.
Neptun Deep in the Black Sea, the largest gas development project in the EU-27 and a key endeavor for OMV Petrom, is an impressive demonstration of how we combine our economic strength with technological innovation. With production planned to start in 2027, we are adding fresh momentum to the energy supply of Romania and all of Europe. Furthermore, we are investing in the future and involved in geothermal energy and renewable energies in Southeast Europe, and in doing so creating a resilient and sustainable energy system for Europe.
We are also actively shaping the transition in the Fuels segment. Green hydrogen is becoming a core decarbonization lever for our refineries. With the start-up of our 10 MW plant in Schwechat and commencing construction of a further 140 MW in Bruck an der Leitha, we are sending a clear technological signal for the supply of our refineries. In 2025, we were able to increase the sales volumes of sustainable aviation fuel (SAF) significantly. In Romania, an SAF/HVO plant with a production capacity of 250,000 t per year and two plants for green hydrogen with capacities of 20 MW and 35 MW respectively have been under construction since early 2025.
The establishment of Borouge Group International, a global leader in polyolefins headquartered in Vienna, also marks an important strategic step: Borouge Group International strengthens our position and opens up new opportunities for growth – with a high level of innovative products, an excellent cost structure, and access to all global markets.
We used 2025 to grow our Company, advancing our transformation with determination and setting OMV on a sustainable path for the future.
We are also consistently pursuing our path toward a circular economy in the Chemicals business segment. With innovative solutions like ReOil®, we are demonstrating that technological performance and conserving resources can go hand in hand and that plastic waste can become valuable feedstock for the chemicals industry again.
Furthermore, in 2025 we continued with the development of our sustainability risk management and expanded our Human Rights Management System. This means we are not only fulfilling the more demanding due diligence requirements in our own operations but along the value chain – and laying the foundation for long-term business success that aligns with social and environmental expectations.
2025 was also a year of clear decision-making. With our strategy update, we have further refined OMV’s path. We are making targeted investments and managing risks with purpose. Our goal is clear: we want to guide OMV successfully through the transition and put it in the best possible position for the future.
Everything OMV achieved in 2025 was above all attributable to the people who work for our Company. They have helped make decisions, implemented changes, and reliably pushed the Company forward even in difficult times. I would like to thank our employees wholeheartedly for their efforts. My thanks also go to our partners and to you, our shareholders, for your trust and your support.
We are looking to the future and moving in that direction – with optimism and the firm desire to re-invent essentials for sustainable living.
Vienna, March 13, 2026
Alfred Stern