# OMV: Q3 retail and commercial margins increased q/q
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-10-10
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: OMV Retail and Commercial Margins Increase in Q3
Meta Description: OMV sees growth in retail and commercial margins despite negative impact from Schwechat refinery incident. Full operations resumed on Oct. 7.
URL: https://financedigest.com/omv-q3-retail-and-commercial-margins-increased-q-qhtml

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BERLIN (Reuters) -Austrian oil and gas group OMV said on Monday its retail and commercial margins increased in the third quarter from the second.

OMV also said a mechanical incident at its Schwechat refinery would have a negative impact on its third quarter result “as we expect payments from the business interruption insurance at a later point in time.”

Full operations at the refinery resumed on Oct. 7.

On June 3, two people were injured when a part at a crude [oil distillation unit exploded at the refinery towards the end of a planned turnaround that put a stop to output](https://www.financedigest.com/uk-oil-gas-firms-to-leave-years-worth-of-output-in-ground-with-tax-hikes-report.html "UK oil, gas firms to leave year’s worth of output in ground with tax hikes-report") at the site.

OMV said in July it expected to take a [financial hit](https://www.financedigest.com/uk-consumer-mood-hits-one-year-high-but-financial-gloom-persists.html "UK consumer mood hits one-year high, but financial gloom persists") of some 200 million euros ($194.40 million) from the incident at the Schwechat refinery.

In a [third quarter](https://www.financedigest.com/greek-residential-property-price-recovery-picks-up-in-third-quarter.html "Greek residential property price recovery picks up in third quarter") trading update, OMV added: “Positive cash flow effects stemming from our natural gas exchange trading activity are expected to offset to a large extent the outflows coming from the injection of natural gas into the storages.

In July, OMV reported figures showing it more than doubled second-quarter core operating [profit on the back of soaring gas prices](https://www.financedigest.com/syngenta-4q-profit-falls-as-raw-material-prices-increase.html "Syngenta 4Q profit falls as raw material prices increase") fuelled by the war in Ukraine.

($1 = 1.0288 euros)

(Reporting by Paul Carrel, editing by Kirsti Knolle)


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