Romania’s energy group OMV Petrom (BVB: SNP) on the morning of July 31 announced clean CCS net income attributable to stockholders of the parent of RON 1.13 billion (EUR 215 million, -12% y/y), lower but very close to the RON 1.18 billion median expectation of the analysts that expressed dispersed projections ranging from RON 0.9 billion to RON 2.5 billion.

For H1, OMV Petrom reported RON 2.19 billion (EUR 418 million, -4% y/y) clean CCS net income.

Prior to the financial release, the analysts expressed median expectations for RON 0.95 for the target price of the company’s shares – with an implicit 26% negative gain. The financial release is not likely to impact the expectations.

The shares of OMV Petrom closed the day before the financial release at RON 1.26, after a 62% y/y rally.

The company’s market capitalisation is RON 76.5 billion (EUR 14.6 billion) at this price.

iulian@romania-insider.com

(Photo source: Omvpetrom.com)