Austria's OMV sees $141 million profit boost from Borouge-Borealis merger in Q2

Austrian energy group OMV OMV expects the Borouge-Borealis merger to have a positive effect of 120 million euros ($140.8 million) on its second-quarter operating result before special effects, it said as part of a trading update on Tuesday.

After nearly two years of negotiations, Abu Dhabi National Oil Company (ADNOC) and OMV agreed in March to merge their polyolefin businesses to create a chemicals powerhouse, Borouge Group International, with a $60 billion enterprise value.

OMV also said it expected a 400 million euro hit on its adjusted operating cash flow from higher taxes in Romania and Norway compared to the first quarter.

"In the second quarter of 2025, net working capital effects are currently expected to be positive amounting to a low-triple-digit million euro amount," it added.

OMV recorded lower average energy prices in the second quarter, as average natural gas prices fell by 23% quarter-on-quarter and average realized crude oil price declined 9% to $66.2 per barrel, it said.

($1 = 0.8521 euros)