Energy Markets
Austria's OMV reports FY profit in line, helped by the chemicals segment
The Austrian oil and Gas firm OMV reported a full-year adjusted operating result on Tuesday that was in line with expectations. A better performance from its chemicals division compensated for a weakness in the fuel, feedstock and energy segments. Vara Research's consensus estimate of 5,13 billion euros was roughly in line, as the Vienna-based firm reported a clean operational result of 5.14bn euros ($5.29bn), down 15% on an annual basis. Clean operating results are based on current costs of supply and exclude one-off items, short-term gains or losses and energy inventory holdings. OMV's chemical division is a key growth engine...