Q3 commercial and retail profit margin increased QoQ According to Reuters
© Reuters. FILE PHOTO: The logo of Austrian oil and gas group OMV is seen at a gas station in Vienna, Austria, October 30, 2018. REUTERS/Heinz-Peter Bader
BERLIN (Reuters) – Austrian oil and gas group OMV on Monday said its commercial and retail margins increased in the third quarter compared with the second.
OMV also said a mechanical failure at its Schwechat refinery would have a negative impact on third-quarter results “as we expect payments from business interruption insurance by that time.” later.”
Full operations at the refinery were resumed on October 7.
“The positive cashflow effect from our foreign exchange operations is expected to largely offset the outflow from the injection of natural gas into the reserves,” it added in third quarter trading update.
In July, OMV reported figures showing the company’s second-quarter core operating profit more than doubled due to soaring gas prices caused by the war in Ukraine.