OMV: Q3 retail and commercial margins increased q/q

BERLIN (Reuters) – Austrian oil and gas group OMV said on Monday its retail and commercial margins increased in the third quarter from the second.

OMV also said a mechanical incident at its Schwechat refinery would have a negative impact on its third quarter result “as we expect payments from the business interruption insurance at a later point in time.”

Full operations at the refinery resumed on Oct. 7.

“Positive cash flow effects stemming from our exchange trading activity are expected to offset to a large extent the outflows coming from the injection of natural gas into the storages,” it added in a third quarter trading update.

In July, OMV reported figures showing it more than doubled second-quarter core operating profit on the back of soaring gas prices fuelled by the war in Ukraine.

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