OMV Announces Higher Profits

Businessn.a. ♦ Published: May 9, 2012; 11:16 ♦ (Vindobona)

The Austrian oil and gas company published results for the first quarter of 2012. EBIT was up by 7%, net income rose by 17%.

OMV Announces Higher Profits / Picture: ©

Today, the Austrian oil and gas group presented its results of the first quarter of 2012. OMV achieved a clean CCS EBIT of € 800m,which was up by 9% vs. Q1/11. The contribution from Petrom to clean CCS EBIT increased by 34% to € 379m. OMV´s clean CCS net income attributable to stockholders increased by 37% to € 379m. The gearing ratio was down to 28% vs. 47% in…