In the Gas Marketing Western Europe business, OMV. OMV’s Supervisory Board consists of ten members elected by the Annual General Meeting (shareholders’ representatives) and five members delegated by the Group’s Works Council. Annual Report view report. Strategy, key figures and highlights. noiembrie 17, 2023. In the Gas Marketing Western Europe business, OMV markets and trades natural gas, operates natural gas storage facilities with a capacity of 30 TWh, and holds a 65% stake in the Central European Gas Hub (CEGH). Skip Navigation. The overall objective of the risk policy is to safeguard the cash flows required by the Group and to maintain a strong, investment-grade credit rating in line with the Group’s risk appetite. Executive Board's proposal for distribution of dividends for the financial year 2022, the same as the one announced on February 2, 2023, namely a gross dividend of RON 0. Commerzbank and ODDO BHF Corporate Conference, Frankfurt. Additions to intangible assets in 2021 included EUR 33 mn additions for internally generated assets mainly related to capitalized development costs. Get the latest OMVJF: OMV detailed stock quotes, stock data, Real-Time ECN, charts, stats and more. 13. 2022. In 2021 the intangible assets transferred to assets held for sale amounted to EUR 74 mn, mainly related to OMV’s 25% stake in the Norwegian oil field Wisting, which was sold in Q4/21. 2008 Production of 100 mn tons of OMV oil in Austria. The line “Other changes” of the consolidated statement of cash flows for 2022 included non-cash effects related to the impairment of the Nord Stream 2 loan. On September 29, 2020, OMV’s Annual General Meeting approved a dividend of EUR 1. The following tables provide a reconciliation to the amounts reported in the income statement. Annual Report view report. From 2035 onwards, OMV applied a Brent oil price of USD 60/bbl. 2021. OMV regularly analyzes the impact of interest rate changes on interest income and expense from floating rate deposits and borrowings. October 29, 2020. In 2021, the average Brent price reached USD 70. Intangible assets and property, plant and equipment were mainly impacted by the acquisition of a 50% stake of the issued share capital in SapuraOMV Upstream Sdn. 23,544. This special dividend will. 2023-10-09 01:30 am. For further details on lease contracts please refer to Note 15 –. OMV AG (OMV) financials statements overview reports - OMV AG's market cap is currently ―. June 29, 2023. Notes to the Income Statement 7 – Depreciation, amortization, impairments and write-ups. Basis of Preparation and Accounting Policies. Notes to the Income Statement 6 – Other operating income and net income from equity-accounted investments. The consolidated financial statements comprise the financial statements of OMV Aktiengesellschaft and the entities it controls (its subsidiaries) as at December 31, 2021. The cash out for the transaction amounted to EUR 3. Notes to the Statement of Financial Position 22 – Non-controlling interests. Strategy and targets of debt financing. 2019. 135. Annual Report view report. Chairman of the Executive Board and Chief Executive Officer, Executive Board member for the Chemicals & Materials division. Details on impairments and write-ups can be found in Note 7 – Depreciation. Financial Calendar 2022. 01% Investment will provide Borealis increasing access to chemically recycled feedstock, strengthening the Borcycle TM C portfolio of virgin-level grade recycled productsFurther Information Financial Calendar Further Information Glossary Topics Filter. Consolidated Corporate Governance Report. Annual Report current report. Starting with Q1/22 the OMV Group structure was reorganized, which involved the transfer of Gas Marketing Western Europe, which includes Supply, Marketing, Trading and Logistics, from Refining & Marketing to Exploration & Production in order to extract synergies from the entire end-to-end gas value chain. The OMV Supervisory Board has appointed Alfred Stern (56) as Executive Board member for Chemicals & Materials. OMV recognizes provisions for litigations if these are more likely than not to result in obligations. OMV Annual Report 2020. 1,003. Annual Report view report. The financial statements of all consolidated companies are prepared in accordance with uniform group-wide accounting. OMV’s share of claimed amount is around USD 330 mn. Explore the 2022 OMV Annual Report. Skip Navigation. Annual Report current report. Perioada de tacere ("Quiet period") (1) 19 ianuarie – 1 februarie 2023. Further Information Financial Calendar Further Information Glossary Topics Filter. Basis of Preparation and Accounting Policies 3 – Changes in group structure. 24/2017") and Regulation of the Financial Supervision Authority no. omv. OMV Grup OMV România Petrom Romania Petrom Moldova Închide. 5 percent in Vienna. The purchase price of the transaction. 9548. For the period 2020 to 2025, OMV plans to make annual investments averaging EUR 2. Spin-off and transfer agreement of E. OMV Petrom S. 32. A total of 20. OMV Group OMV Romania Petrom Romania Petrom Moldova Close. 2022. CET - Pavillon Gabriel - 75008 Paris. More about "Investor Relations" About our stock. Financial Calendar 2017. 2020. 1. en de. In 2020 this position included also financial assets amounting to EUR 57 mn related to the contingent considerations from the divestment of the 30% stake in Rosebank and from the divestment of OMV (U. NEWCASTLE & HOUSTON, June 29, 2023 — TechnipFMC (NYSE: FTI) has been awarded a significant (1) integrated Engineering, Procurement, Construction, and Installation ( iEPCI™) contract by OMV (Norge) AS for its Berling gas development project. EG Group Q 2023 Financial Databook. 1 bn). Notes to the Income Statement 6 – Other operating income and net income from equity-accounted investments. is one of the Romanian largest oil and gas groups. Q1. Annual Reports. 8,090. Q1 Interim Management Statement. The loan receivables (including the related accrued interests) towards Bayport Polymers LLC stemmed from drawdowns under a member loan agreement with a total value of EUR 1,313 mn (2021: EUR 1,236 mn). On January 12, 2023: Borealis acquires a majority stake in Renasci signalling on-going commitment to leading. For comparison only, figures for the previous years are shown in the new structure. Quarterly Report – Q4. 7 KB) The information shown above is subject to final confirmation. 2020. All shares are entitled to dividends for the financial year 2022, with the exception of treasury shares held by OMV Aktiengesellschaft. Notes to the Income Statement 10 – Personnel expenses. 26. Financial calendar. Executive Board members and senior managers as active participants of the plans are required to build up an appropriate volume of shares and to hold those shares until retirement or departure from the company. 6. Internal reporting and the relevant information provided to the chief operating decision. Annual Report view report. The current proposal envisions OMV injecting about €1. ) Limited resulting from a delay of expected date of final investment decision. Commercial margins are forecast to be above those in 2022. (XLSX:) Download. OMV Aktiengesellschaft (WBAG:OMV) are exploring a combination of Borouge plc (ADX:BOROUGE) and Borealis AG to create a chemicals and plastics company worth more than $30 billion, people familiar with the matter said. OMV Annual Report 2020. Borealis is a leading provider of base chemicals, polyolefins, and fertilizers and is the second-largest polyolefin producer in Europe and among the top-ten producers globally. Topics filter Strategy Executive and Supervisory Board Corporate Responsibility Results. Transparency is the basis for trust. As of December 31, 2021, assets held for sale and liabilities associated with assets held for sale in Chemicals & Materials related entirely to the nitrogen business unit of Borealis Group. Notes to the Income Statement 7 – Depreciation, amortization, impairments and write-ups. Calendar. OMV has a 24. The carrying amount of financial assets at fair value through profit or loss as at December 31, 2020 was EUR 3,353 mn (2019: EUR 3,243 mn ). 0375 per. OMV Group’s operational liquidity management is mainly handled via cash pooling systems, which enable optimum use of existing cash and liquidity reserves to the benefit of every individual member of cash pooling system and the Group as a whole. Basis of Preparation and Accounting Policies 2 – Accounting policies, judgements and estimates. Annual Report view report. 38. 3,120. The state owned Libyan national oil corporation is entitled to 88–90% of the production (“primary split”). Notes to the Income Statement 6 – Other operating income and net income from equity-accounted investments. Countries. 1%). In 2021 it included also an acquired contractual position towards Gazprom with regard to the reserves redetermination in amount of EUR 432 mn in. Financial Calendar 2024 (PDF, 142. The new IONITY station is located right off the A22/E45 motorway exit “Lago di Garda Sud” and hence at a strategic crossroads between continental Europe, the lakes of Northern Italy and the South of Italy. 20,000 Reasons scroll for moreStrategy, key figures and highlights. Annual Report view report. Read more. Notes to the Income Statement 7 – Depreciation, amortization, impairments and write-ups. SQ64ZtIkvhzxEYSNvcjbs9AE1hoRW_9sqpX32kKJ-mw. Starting with March 1, 2022 OMV ceased to equity account its 24. Johann Pleininger started his professional career at OMV in 1977 and later studied. In 2020, OMV increased its shareholding in Borealis to 75%. OMV Aktiengesellschaft (OTCMKTS:OMVKY) pays an annual dividend of $0. Fair value. Annual Reports. 2023-09-17. The stake in the Wisting oil field was sold to Lundin Energy AB on December 17, 2021. The classification depends both on the Group’s business model for managing the financial assets as well as the contractual cash flow characteristics of the. 1. On October 31, 2019, OMV Petrom published its Financial Calendar for 2020. 392. Nov 22, 23 DZ Bank Equity Conference, Frankfurt. On October 29, 2020 OMV increased its stake in Borealis Group from 36% to 75% which led to obtaining control and consequently full consolidation of Borealis Group and discontinuation of the equity method. OMV Annual Report 2020. 301. announced that the payment of the dividends for 2022 financial year viaDepozitarul Central S. Strategy. 2 clicks for more privacy: The 1st click establish the connection to Facebook. Annual Report view report. Explore the 2022 OMV Annual Report. The main activities of the OMV Petrom Group are exploration and production of hydrocarbons (in Romania), refining of crudes (in Romania), marketing of petroleum products (in Romania, Bulgaria, Serbia and Moldova) and of. Basis of Preparation and Accounting Policies 1 – Basis of preparation. 22. Notes to the Income Statement 7 – Depreciation, amortization, impairments and write-ups. 1,343. Borealis bond 18-25. 2022. Cash and cash equivalents presented in the consolidated statement of financial position. Vienna. Annual Report view report. 600. 1 – Basis of preparationAt initial recognition, OMV classifies its financial assets as subsequently measured at amortized cost, fair value through other comprehensive income or fair value through profit or loss. Strategy, key figures and highlights. 309. Notes to the Income Statement 7 – Depreciation, amortization, impairments and write-ups. Financial assets at amortized cost. Annual Report view report. In Chemicals & Materials, OMV is one of the world’s leading providers of advanced and circular polyolefin solutions with total polyolefin sales of 5. Interest income from loans included EUR 84 mn (2019: EUR 70 mn). For your. 2,009. The changes to the OMV corporate structure and the new Executive Board appointment will take effect as of April 1, 2021. Q2 2023 Earnings Call. com. For previous financial reports and presentations from Elkem, please see here. S. OMV Petrom te încurajează să crezi în viitorul tău. Aker BP. Notes to the Income Statement 8 – Exploration expenses. 8 TWh in 2020. Basis of Preparation and Accounting Policies 2 – Accounting policies, judgements and estimates. Equity-accounted investments. 13 Jul 2023. The live economic calendar keeps you ahead of all market moving events including economic indicators, auctions and speeches. Contact. Financial Review of the Year; Capital Expenditure (CAPEX) Notes to the Cash Flow Statement;OMV Petrom S. Results January – September and Q3 2023 Download selected Conference Call Group Clean CCS Operating Result lessened to EUR 1,334 mn due to a lower contribution from Energy and Chemicals & Materials, partially offset by a higher result in Fuels & Feedstock OMV’s strong financial performance as well as positive contribution from inorganic cash flow from investing activities, such as the Borouge IPO, partial loan repayment from Bayport Polymers LLC (Baystar), as well as the sale of filling stations in Germany, have led to a continuous deleveraging throughout the year, resulting in a leverage. 2844/2016 and in compliance with the Regulation no. OMV Group Websites. bBcXe8bBvB5B0Zpfh_rwEKzz5bWPi9Q3r4kYdMIzkSk. 25 per share will be proposed to the Annual General Meeting 2023. Notes to the Income Statement 8 – Exploration expenses. 14 – Intangible assets; 15 – Property, plant and equipment; 16 – Equity-accounted investments; 17 – Inventories; 18 – Financial assets; 19 – Other assets; 20 – Assets and liabilities held for sale1,308. Net sales break down by activity as follows: - refining and distribution of hydrocarbons (58. 6%) of Erdöl-Lagergesellschaft m. Explore the 2021 OMV Annual Report. 225. 74; its P/E ratio is 8. Downloads; to page top. Strategy, key figures and highlights. Impairment losses are part of the income statement line “Depreciation, amortization, impairments and write-ups”, except for impairment losses related to exploration and appraisal assets which are shown in “Exploration expenses”. The state owned Libyan national oil corporation is entitled to 88–90% of the production (“primary split”). Annual Report view report. Annual Report view report. Notes to the Statement of Financial Position 20 – Assets and liabilities held for sale. Quarterly Report - Q3 2023. OMV Petrom S. Annual Report view report. Session. 2023-09-10. May. Other sundry receivables include an asset from reserves redetermination rights related to the acquisition of interests in the field Yuzhno Russkoye and contingent considerations from the divestments of the 30% stake in the field Rosebank and of OMV (U. Download OMV Petrom Financial Calendar 2022 (PDF, 143,9 KB) Includes regular and special dividend. . ON Kraftwerke GmbH (HGB) 2013 Annual report E. Notes to the Income Statement 8 – Exploration expenses. Excluding liabilities associated with assets held for sale, which are described in Note 20 – Assets and Liabilities held for sale. 99% interest in OJSC Severneftegazprom (Russia region) due to loss of significant influence. 06:00:00 2023-10-25 pm EDT 5-day change. Notes to the Income Statement 8 – Exploration expenses. OMV Annual Report 2020. 11 – Net financial result; 12 – Taxes on income and profit; 13 – Earnings Per Share; Notes to the Statement of Financial Position. ) Limited, which are dependent on the date when the Rosebank project coventurers will approve the final investment decision. A substantially higher contribution from the nitrogen business and the positive impact from stronger olefin margins were more than offset by considerably weaker European polyolefin margins, significantly lower positive inventory valuation. 14 – Intangible assets; 15 – Property, plant and equipment; 16 – Equity-accounted investments; 17 – Inventories; 18 – Financial assets; 19 – Other assets; 20 – Assets and liabilities held for saleOMV Group. The financial calendar provides current publication dates and information to upcoming events. This financial calendar represents only an extract of the planned dates. Financial Calendar. OMV Petrom is the largest integrated energy company in South-Eastern Europe, with an annual Group hydrocarbon production of approximately 43 million boe in. 7000 800. OMV supports the transition to a lower-carbon economy and has set measurable targets for reducing carbon intensity and introducing new energy and. 2021. Notes to the Income Statement 9 – Other operating expenses. Download OMV Petrom Financial Calendar 2020 (PDF,. Download OMV Petrom Financial Calendar. 4 TWh in 2021, a decrease compared to 47. OMV’s Stern told the Financial Times this month that chemicals are “the growth engine” of its strategy and that it is aiming for 50 per cent of its operating results to come from the sector. 85. OMV’s financial stake in the block is 57. OMV Global. With this new strategy, OMV will accelerate attainment of its goal of lowering GHG emissions by reducing fossil fuels, stepping up the production and marketing of renewable fuels and sustainable chemical feedstocks, as well as implementing energy efficiency measures. 2020. 626. Explore the 2022 OMV Annual Report. Calendar OMV AG OTC Markets Equities OMVJF AT0000743059 Delayed OTC Markets. Notes to the Income Statement 11 – Net financial result. 40. Financial Calendar; Glossary. Exploration and Appraisal (E&A) expenditure is expected to be around EUR 220 mn in 2022 (2021: EUR 210 mn). The financial year corresponds to the calendar year. 4 TWh, an increase of 31% over 2019. 2020. OMV’s capital allocation priorities are as follows: Organic CAPEX. Financial assets and financial liabilities are offset only when the Group has a current and legally enforceable right to set-off the recognized amounts and when there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. OMV Group Report January-December and Q4 2020 February 4, 2021 OMV Group Report January-December and Q4 2020 including preliminary consolidated financial statements as of December 31, 2020 Key Performance Indicators 1. Notes to the Income Statement 9 – Other operating expenses. 8 mn t). 2020: as proposed by the Executive Board and confirmed by the Supervisory Board, subject to confirmation by the Annual General Meeting 2021. Notes to the Statement of Financial Position 15 – Property, plant and equipment. 21,074. 2021. Consolidated Income Statement; In EUR mn . OMV has ceased to fully consolidate YRGM and to equity account for SNGP in the consolidated financial statements. Key Figures Comparison; Compare to last year. Auditor’s Report Consolidated Statement of Comprehensive Income for 2022. Bhd. 11. 2020. Annual Report current report. On June 3, 2022, OMV’s Annual General Meeting approved a regular dividend of EUR 2. Annual Reports. In spite of holding the majority of voting rights in the general assembly, OMV. , subsurface storage of hydrogen. 2024-01. Rezultatele preliminare pentru ianuarie-decembrie si T4 2022 (2) Publicare: 8:00 (ora locala) Teleconferinta si webcast pentru analisti si investitori (3) Conferinta de presa. Topics filter Strategy Executive and Supervisory Board Corporate Responsibility Results. Two of the current shareholders’ representatives were elected at the 2019 Annual General Meeting ( AGM ), one at the 2020 AGM, one at the 2021 AGM, and. Berenberg European Conference 2023 Manhattan. 80 and special dividend of EUR 2. Notes to the Statement of Financial Position 23 – Provisions. Company Website; OMV Blog; Investor Relations; News Portal; Facebook Twitter Linkedin. OMV AG company earnings calendar and analyst expectations - Upcoming and past events | Berne Stock Exchange: OMV | Berne Stock Exchange. Key Figures Comparison; Downloads. Notes to the Consolidated Financial Statements Notes to the Statement of Financial Position. Q3 2023 Sales and Revenue Release - Trading Update. Notes to the Income Statement 9 – Other operating expenses. 2019. On October 30, 2013 Petrom published the Financial Calendar for 2014. Notes to the Income Statement 5 – Sales revenues. 1 – Basis of preparationNotes to the Income Statement 5 – Sales revenues. Notes to the Income Statement 10 – Personnel expenses. Annual Report view report. The net financial result decreased to EUR (175) mn (2019: EUR (129) mn). OMV Aktiengesellschaft forms a tax group in accordance with section 9 of the Austrian Corporate Income Tax Act 1988 (), which aggregates the taxable profits and losses of all the Group’s main subsidiaries in Austria and possibly arising losses of one foreign subsidiary (OMV AUSTRALIA PTY LTD). Sustainability Reports. H (ELG), registered in Lannach, which is holding the major part of the emergency stock of crude and petroleum products in Austria. Strategy, key figures and highlights. 6 – Other operating income and net income from equity-accounted investments. 04. 2019: EUR 1. For the years 2026 until 2029, OMV assumed a Brent oil price of USD 65/bbl which is expected to gradually decline to USD 60/bbl until 2035. Shareholder Information. company earnings calendar and analyst expectations - Upcoming and past events | Bucharest Stock Exchange: SNP | Bucharest Stock Exchangeportal. OMV Petrom Petrom Romania Petrom Moldova Borealis Websites. This included 421,342 (2020: 159,581) contingently issuable bonus shares related to Long Term Incentive Plans and the Equity Deferral. Financial Calendar; Glossary; Key Figures Comparison. OMV expects production levels of ~370 kboe/d by 2025 and ~350 kboe/d by 2030, with a share of around 60% of natural gas, excluding any potential divestments. Annual Report view report. Contact. 2019. A. In Chemicals & Materials, OMV is one of the world’s leading providers of advanced and circular polyolefin solutions with total polyolefin sales of 5. Since October 29, 2020 Borealis Group is fully-consolidated, following the increase of the stake from 36% to 75%. 3. ON Kraftwerke GmbH (HGB) Spin-off Documents. 10:48:08 2023-11-01 am EDT 5-day change 1st Jan Change 41. We are auditors without cease since 2011. 2015, 2014, 2013 Combined financial statements of the Uniper Group for fiscal years 2015, 2014 and 2013 (IFRS) 2015 Annual financial statements Uniper AG 2015 (HGB) 2014 Annual report E. Jan 12, 2023OMV’s strong financial performance as well as positive contribution from inorganic cash flow from investing activities, such as the Borouge IPO, partial loan. Strategy, key figures and highlights. 21,996. Johann Pleininger, *1962. The complete financial calendar and confirmation of the dates can be found at: Fields of Activity Glossary. ssm_ (ID) Cloudflare. Notes to the Income Statement 12 – Taxes on income and profit. 3 hours. 9. Notes to the Statement of Financial Position 21 – Equity of stockholders of the parent. With a year-end market capitalization of around EUR 16 bn, OMV is one of Austria’s largest listed industrial companies. 2022. For further details, please refer to the Notes to the Consolidated Financial Statements ( Note 17. Changes in consolidated group in 2020 of EUR 887 mn were mainly related to capitalized development costs, patents and licenses due to the acquisition of an additional 39% share in Borealis AG. 75 per share for 2019 as well as all other agenda items including the new Remuneration Policy for the Executive Board and for the Supervisory Board, the Long Term Incentive Plan 2020, the Equity. 25 per share special dividend. K. Consolidated Statement of Changes in Equity for 2022 Notes to the Consolidated Financial Statements. Dividend Per Share (DPS) 1. This change led to a loss of EUR 658 mn. In 2020, OMV increased its share in Borealis to 75%, strengthening its chemical business and extending the value chain into polymers. 9 bn in 2020, mainly due to the full consolidation of Borealis. Financial Calendar; Glossary. For your recommendation a second click is necessary. November 13, 2023 at. 2010 Highest production level for OMV Austria since 1980. OMV is a financing partner of the Nord Stream 2 project. As of December 31, 2021, one other proceeding was pending against OMV related to local service contractors in one of the subsidiaries. Chris Uhl, OMV was born in Cleveland, OH and comes from a family of eight. Annual Reports. Preliminary financial statements as at December 31, 2022 and resolution on distribution of reserves for and in place of the 2022 dividend (third tranche) Meeting of the Board of Directors and press release on dividend - February 22, 2023. DCC Energy customer site visit & insights day - Paris. Other financial and non-financial assets mainly included late payment interest income in relation to successful arbitration in Romania in 2020, while 2019 primarily contained late payment interest income in relation to clarification of a tax related topic in Romania. Capital expenditure in Refining & Marketing amounted to EUR 654 mn (2020: EUR 570 mn). 2,818. Low Carbon Business. 37 – Subsequent events. Strategy, key figures and highlights. Quiet period begins on October 16, 2023. 14 – Intangible assets; 15 – Property, plant and equipment; 16 – Equity-accounted investments; 17 – Inventories; 18 – Financial assets; 19 – Other assets; 20 – Assets and liabilities held for saleEARNINGS/SALES RELEASESAnother challenging quarter for OMV due to softening chemicals margins and the natural decline in oil and gas fields. 103 Consolidated Financial Statement and Notes 225 Further Information Part 2: Annual Report of OMV Aktiengesellschaft – containing: 240 Report of the Supervisory Board 244 Consolidated Corporate Governance Report 263 Directors’ Report 270 Auditor’s Report 275 Financial Statements 279 Notes 308 Abbreviations and DefinitionsOMV Group Report January-June and Q2 2020: July 29, 2020 OMV Ordinary Annual General Meeting: September 29, 2020; The entire OMV financial calendar and additional information can be found at OMV contacts Florian Greger, Vice President and Head of Investor RelationsThe following tables provide supplementary information in respect of the Group’s oil and gas activities. Today, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) and its division of Florida Highway Patrol (FHP) honored the nation’s Veterans during our annual FLHSMV Veteran’s Day Event. OMV Annual Report 2020. Annual Reports. 20,127. Following the reorganization and starting from Q1/23, the Group will report on the following business segments: Chemicals & Materials, Fuels & Feedstock (former Refining & Marketing) and Energy. The latest webcast is available here. OMV holds a 10% interest in Pearl Petroleum Company Limited (Middle East and Africa region). 2019. As of December 31, 2021, OMV recognized tax losses carryforward of EUR 5,886 mn before allowances (2020: EUR 6,302 mn), thereof EUR 3,202 mn (2020: EUR 3,331. Dividends. 2022. In 2022, Group sales amounted to EUR 62 bn. The Group’s risk management processes focus on identification, assessment, and evaluation of such risks and their impact on the Group’s financial. Financial Calendar; Glossary. This financial calendar represents only an extract of the planned dates in 2021. Meanwhile, OMV shares rose by almost 7. On June 3, 2022, OMV’s Annual General Meeting approved a regular dividend of EUR 2. 30%. 7,753. Financial Borealis delivers solid third quarter financial result in challenging yet improving market environment 04/11/2020.