OMV 4Q Earnings Rose Sharply on Higher Oil Prices
06 February 2019 - 5:42PM
Dow Jones News
By Nathan Allen
OMV AG (OMV.VI) said Wednesday that earnings almost doubled in
the fourth quarter as sales rose sharply on higher oil prices.
Fourth-quarter net profit at the Austrian oil-and-gas company
was 608 million euros ($694.3 million) up from EUR311 million a
year earlier.
Sales rose 35% to EUR6.64 billion from EUR4.91 billion, the
company said.
Analysts had expected net profit of EUR466 million on sales of
EUR6.22 billion, according to a consensus compiled by FactSet.
OMV attributed the strong results to higher oil-and-gas prices,
as well as an uptick in sales volumes in Russia and the United Arab
Emirates.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 06, 2019 01:27 ET (06:27 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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