The partly state-listed OMV announced today in its trading update for the 4th quarter that the technical failure and the months-long downtime at the Schwechat refinery in the summer of last year caused an insured value of EUR 175 million. “This amount will be taken into account in the clean CCS operating result in Q4/22. However, this will only have an impact on cash in 2023,” said the oil and gas group.
It also said about the balance sheet for 2022 and the outlook for this year: “Based on the preliminary financial figures, we expect the solidarity levy in Austria to have a negative impact of around 150 million euros for 2022. This will only happen in 2023 become cash-effective.”
The solidarity levy of 33 percent on profits that were 20 percent above the average for the past four years is an EU initiative and was announced at the end of September 2022. The money is to be used to finance relief for citizens and companies.
Looking back on the last quarter of the previous year, the Viennese company states that the Gas & Power division of OMV Petrom was significantly affected by regulations that contained price restrictions and overtaxation for the gas and electricity business. “As a consequence, we only expect a marginally positive result for the operating result before special items from Gas & Power Eastern Europe,” said OMV in a press release.