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OMV AG Q1 profit climbs 1,045.4% YOY

OMV AG said its normalized net income for the first quarter came to €1.39 per share, compared with the S&P Capital IQ consensus estimate of €1.40 per share.

EPS climbed 1,035.1% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €453.9 million, a gain of 1,045.4% from €39.6 million in the prior-year period.

The normalized profit margin rose to 8.4% from 1.0% in the year-earlier period.

Total revenue grew 38.6% year over year to €5.43 billion from €3.92 billion, and total operating expenses increased 16.9% on an annual basis to €4.65 billion from €3.98 billion.

Reported net income increased 658.5% year over year to €713.0 million, or €2.18 per share, from €94.0 million, or 29 cents per share.