euro adhoc: OMV Aktiengesellschaft / Interim Announcement

Report January – September and Q3 2008 including interim financial statements as
of September 30, 2008

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Intermediate report of the management transmitted by euro adhoc. The issuer
is responsible for the content of this announcement.
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06.11.2008

- Favorable pricing environment offset adverse FX movements to drive clean EBIT
49% higher to
EUR 928 mn versus Q3/07
- Strong performance across all segments: E&P clean EBIT up 53%; R&M clean EBIT
up 36%; G&P clean EBIT up 21%; Petrom contributed EUR 347 mn to clean EBIT, up
93%
- Clean net income after minorities was EUR 557 mn; Clean EPS after minorities
was EUR 1.86
- A healthy balance sheet with a gearing ratio of 26% and a strong operating
cash flow put OMV in a good position to bridge a period of weaker operating
conditions

Wolfgang Ruttenstorfer, CEO of OMV:
"This has been another solid performance from OMV and our ability to produce
consistent earnings growth underlines the strength of our core business.
Temporary oil and gas production shortfalls predominantly in the UK and Romania
were offset by higher volumes in Austria, Tunisia and Yemen leading to a strong
contribution from our upstream business. In addition to strong refining and
petrochemical margins the marketing contribution improved thanks to high volumes
across our markets. In recent months, oil prices have declined rapidly from the
record levels seen during the first six months and are unlikely to recover
significantly in the balance of the year. While the current economic climate is
likely to slow down growth rates in certain markets, to date we have seen no
significant impact on oil and gas demand in CEE as a result of recent events.
OMV´s integrated business and solid financial structure position us well to cope
with any challenges and opportunities in the weakening market environment."

Third quarter 2008 (Q3/08)

In Q3/08, results were again driven by an overall strong crude price
environment. The average Brent price exceeded last year´s Q3 average by 54%;
however, the decline within the quarter brought negative inventory effects in
refining. The Group´s EBIT of EUR 732 mn was 17% above the level of Q3/07. Due
to high special charges, the reported EBIT contribution of Petrom was only EUR
187 mn. The net financial result was clearly below the Q3/07 level, which was
helped by positive one-off income at Borealis. Net income after minorities of
EUR 453 mn was down by 12% compared to last year. Clean EBIT was up by 49% at
EUR 928 mn excluding net special charges of EUR 206 mn, which mainly related to
the impairment of the book value of the Arpechim fuels refinery. Petrom´s clean
EBIT contribution increased by 93% to EUR 347 mn. Clean net income after
minorities was EUR 557 mn and clean EPS after minorities was EUR 1.86, up by 14%
on Q3/07. At the end of September, net debt of the Group was EUR 2,844 mn and
the gearing ratio stood at 26.5%.

In Exploration and Production (E&P), clean EBIT increased by 53% compared to
Q3/07 to EUR 755 mn despite the negative impact of USD exchange rates,
essentially reflecting the favorable oil price environment compared to Q3/07.
The Group´s oil and gas production was 316,000 boe/d, at the same level as in
Q3/07.

In Refining and Marketing (R&M), clean EBIT was EUR 133 mn, exceeding Q3/07 by
36%. The high oil price had a negative effect on costs of own energy consumption
in the refineries, while the decline in the crude price within the quarter led
to negative inventory effects. The petrochemical business benefited from high
margins. The marketing contribution improved considerably thanks to higher
volumes and the strength of the non-oil business.

In Gas and Power (G&P), clean EBIT increased by 21% to EUR 60 mn, mainly due to
the strong contribution of the logistics business which benefited from the
consolidation of the operating company of the WAG pipeline. The business unit
gas supply, marketing and trading showed a higher result compared to Q3/07.

Statements to the duty publication:
-----------------------------------
Duty publication in/over: www.omv.com
Duty publication at that: 06.11.2008

end of announcement euro adhoc
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emitter: OMV Aktiengesellschaft
Otto-Wagner-Platz 5
A-1090 Wien
phone: +43 1 40440/21600
FAX: +43 1 40440/29496
mail: [email protected]
WWW: http://www.omv.com
sector: Oil & Gas - Downstream activities
ISIN: AT0000743059
indexes: ATX Prime, ATX
stockmarkets: official dealing: Wiener Börse AG
language: English

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