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21st Austria weekly - OMV, Palfinger (28/07/2023)

30.07.2023

OMV: Austrian oil, gas and chemical company OMV announced the Wittau Tief-2a exploration well to be a confirmed new natural gas discovery. A preliminary evaluation indicates potential recoverable resources of approximately 48 TWh (28 million barrels of oil equivalent). After full development of the discovery, OMV expects its natural gas production in Austria to increase by 50 per cent. The OMV operated well was drilled at a final depth of 5,000 meters after five months of operations. “The positive result of our exploration is an exciting news for OMV and its customers. As we continue to work on our strategy to diversify our supply sources of natural gas, this new find marks a major contribution to the natural gas supply of our customers especially in Austria, with an expected increase of our local production,” said Alfred Stern, Chairman of the Executive Board and CEO of OMV AG.
OMV: weekly performance: -0.71%

Palfinger: Despite persistently high interest rates, continued high inflation and uncertain geopolitical developments in the EMEA region, lifting solutions provider Palfinger enters the second half of 2023 with a record revenue and result. The best first half of the year in the company's history was achieved with a revenue of EUR 1,214.9 million, an EBIT of EUR 111.3 million and a consolidated net result of EUR 63.3 million. The full effectiveness of the implemented price increases, a good product mix, and the decline in raw material and freight prices contributed significantly to the outstanding first half year, as did improvements in the supply chains, the company stated. The company has a good order backlog until the end of 2023.
Palfinger: weekly performance: -3.58%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (28/07/2023)


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21st Austria weekly - OMV, Palfinger (28/07/2023)


30.07.2023, 1791 Zeichen



OMV: Austrian oil, gas and chemical company OMV announced the Wittau Tief-2a exploration well to be a confirmed new natural gas discovery. A preliminary evaluation indicates potential recoverable resources of approximately 48 TWh (28 million barrels of oil equivalent). After full development of the discovery, OMV expects its natural gas production in Austria to increase by 50 per cent. The OMV operated well was drilled at a final depth of 5,000 meters after five months of operations. “The positive result of our exploration is an exciting news for OMV and its customers. As we continue to work on our strategy to diversify our supply sources of natural gas, this new find marks a major contribution to the natural gas supply of our customers especially in Austria, with an expected increase of our local production,” said Alfred Stern, Chairman of the Executive Board and CEO of OMV AG.
OMV: weekly performance: -0.71%

Palfinger: Despite persistently high interest rates, continued high inflation and uncertain geopolitical developments in the EMEA region, lifting solutions provider Palfinger enters the second half of 2023 with a record revenue and result. The best first half of the year in the company's history was achieved with a revenue of EUR 1,214.9 million, an EBIT of EUR 111.3 million and a consolidated net result of EUR 63.3 million. The full effectiveness of the implemented price increases, a good product mix, and the decline in raw material and freight prices contributed significantly to the outstanding first half year, as did improvements in the supply chains, the company stated. The company has a good order backlog until the end of 2023.
Palfinger: weekly performance: -3.58%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (28/07/2023)



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