OMV posts higher-than-expected core income in Q1

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April 28 (Reuters) – OMV (OMVV.VI) reported on Friday higher-than-forecast core income, as lower contributions from its divisions for chemicals and materials and energy were partly offset by a higher result in fuels and feedstock.

The Austrian oil and gas group posted clean current cost of supplies (CCS) earnings before interest and tax (EBIT), which exclude special items and inventory gains or losses, of 2.08 billion euros ($2.29 billion).

Investors had expected a result of 1.86 billion euros, according to a company-compiled consensus.

The Vienna-based company said on Friday it aims for an organic capital expenditure in 2023 of around 3.8 billion euros, slightly above its previous target of 3.7 billion euros.

($1 = 0.9081 euros)

Reporting by Tristan Veyet in Gdansk, Editing by Rachel More

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