Austria's OMV second-quarter results meet forecasts as chemicals division surges
The Vienna-based firm posted a clean operating result of 1.03 billion euros ($1.18 billion) for the second quarter, in line with expectations for 1.02 billion euros, according to a company-provided consensus.
A clean operating result is based on the current cost of supply, and excludes one-off items and short-term gains and losses from energy inventory holdings.
The company's chemicals business reported for the second quarter a 76% increase in its clean operating profit to 200 million euros, citing a stronger contribution from the Borealis Group.
OMV's chemicals division, viewed as a growth engine for the company as it moves away from polluting fossil fuels, produces chemicals used in gas and water pipes, car parts and medical syringes.
($1 = 0.8747 euros)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
10 minutes ago
- Reuters
Mistral in talks with VC firms, MGX to raise funds at $10 billion valuation, FT reports
Aug 1 (Reuters) - French artificial intelligence startup Mistral is in talks with investors, venture capital firms and Abu Dhabi's MGX to raise $1 billion at a valuation of $10 billion, the Financial Times reported on Friday, citing people familiar with the matter. The company launched in June Europe's first AI reasoning model, which uses logical thinking to create a response, as it tries to keep pace with American and Chinese rivals at the forefront of AI development. The funding would accelerate the commercial rollout of Mistral's Le Chat chatbot and support continued development of its large language models, the report said. MGX and Mistral did not immediately respond to Reuters requests for comment. The startup raised 600 million euros in a Series B funding round that valued the company at 5.8 billion euros last year. Industry observers consider Mistral as Europe's best-positioned AI company to rival Silicon Valley leaders, though the French firm has yet to achieve comparable market traction or revenue scale. Mistral counts Nvidia (NVDA.O), opens new tab, Andreessen Horowitz and Lightspeed Venture Partners among its investors.
Daily Mail
40 minutes ago
- Daily Mail
American ambassador to Italy so 'displeased' with official Roman villa he lived aboard yacht and 'commuted via helicopter'
A Texas billionaire turned US ambassador to Italy was so unhappy with his new official villa in Rome he lived aboard his superyacht for weeks. Tilman Fertitta, 68, was nominated to the ambassadorship by Donald Trump in December and confirmed by the Senate in April. However, the hospitality tycoon and owner of the Houston Rockets did not move into his official Roman residence, Villa Taverna, until July 10 following a 'series' of renovations to the property. Prior to that, Fertitta had reportedly been helicoptering in to his engagements on land, much to the annoyance of locals, Airmail reports. A spokesperson for his company, Fertitta Entertainment, confirmed to the Daily Mail that the ambassador opted to live on his $150million yacht during construction to the historic residence. 'Ambassador Fertitta has been living in Villa Taverna since July 10 and couldn't wait to move in with his family,' the spokesperson said. 'Several weeks prior, however, during the construction improvements to the family quarters (which he paid for), required that he live elsewhere. 'Rather than a hotel, he chose to commute from his yacht to the embassy, which amounted to only 3.5 weeks.' His 77-meter Feadship-brand vessel, called Boardwalk, has 12 bedrooms, 15 bathrooms, a chef's kitchen, six bars, a large mosaic pool and a helipad, according to Robb Report. Information on the number of rooms and amenities inside the Villa Taverna is not publicly available, and it is unclear what renovations Fertitta had done to the place. 'No changes have been made to the Villa and he honors its architecture, its history, and is quite excited to reside there during his ambassadorship,' Fertitta's company spokesperson insisted. However, a separate news release from the embassy notes, 'a series of careful renovations' at the historic home. The fifteenth-century Villa Taverna, commissioned by Cardinal Consalvi, was first rented by the US Embassy in 1933, according to the State Department. Villa Taverna is known for its rich history, lavish outdoor gardens and expansive art collections. 'The Villa and its historical gardens are filled with valuable art from antiquity through the Renaissance, to the nineteenth century,' the State Department said. On Wednesday, the State Department announced that Fertitta unveiled a new American art collection at the villa. 'The Villa's new collection, curated in partnership with the State Department's Art in Embassies program, reflects his belief in art as a bridge between cultures—sparking dialogue, telling stories, and enriching shared space,' the department said. The collection features pieces by American artists such as Roy Lichtenstein, Frederic Remington, John Singer Sargent and Hans Hofmann. Before he moved into the residence, Fertitta hosted an Independence Day celebration at the villa with Italian leaders. Fertitta was born in Galveston but is of Sicilian descent.
The Sun
40 minutes ago
- The Sun
Nigel Farage urges Chancellor not to hike gambling taxes for horse racing
NIGEL Farage enjoys Glorious Goodwood yesterday — as he called on Chancellor Rachel Reeves to not hike gambling taxes. The Reform UK leader warned of enormous damage if the 15 per cent duty is aligned to the 21 per cent for online casino-style games. 2 He said: 'I do think horse racing is different. "You're making an individual decision each time to have a bet. "There are checks and safeguards in place already.' The racing industry says finances will be badly hurt if the current rate is increased for online games. A Treasury consultation on the issue has now closed. He was speaking out as he attended the West Sussex racecourse as a guest of Scottish Dubai-based businessman Dr James Hay, who has previously donated to the Tory party. His wife Fitriani has also given £50,000 to Reform UK last year. Horse trainer John Gosden has warned British horse racing will be harmed by the punishing new betting tax. "I don't want to see our industry destroyed. It would be tragic. We are world leaders." Nigel Farage on leading the polls, being 'ready' to be PM & why he 'hopes people hate him' 2
