OMV strengthens resilience with group-wide programme

Alfred Stern, Chairman of the Executive Board and CEO, commented: “Future-proofing our business and strengthening our competitiveness are key to serve all our customers and stakeholders. Amid a challenging market and volatile geopolitical environment, we are setting us up for long-term resilience and delivering on our strategy. In this context, the Executive Board of OMV Group has initiated a comprehensive review of our portfolio, strategic priority areas, and efficiency measures across the entire group, resulting in a combination of future-oriented measures. Details regarding any potential impact on our workforce will be discussed and agreed in a dialogue with our employee representatives and be announced in due time.”

The subject efficiency improvement programme is set to take a holistic view on all ongoing efficiency initiatives within the OMV Group, with their respective focus areas and varying timelines. One of the key principles is to future-proof its business, by increasing the focus and prioritising business activities on value-adding areas for investment. Secondly, this initiative focuses on developing simplified processes to increase the agility and flexibility of the organisation. This shall include, for example, increased standardisation of activities and additional deployment of technologies, such as AI, digital tools. and automation. Ultimately, these measures are aimed at significantly improving the customer experience at the respective touchpoints.

With a view to achieve higher simplification and standardisation of recurring activities, the planned strengthening of a GBS organisation shall represent a key lever in achieving its efficiency ambitions. It is also set to provide enhanced access to talent as well as rapid scalability via global resourcing possibilities. This long-term oriented approach shall be built on an end-to-end process ownership, standardisation, and accelerated trajectory of digitalisation of the company’s activities.

As a part of its overall measures, a cost savings potential of €400 million by the end of 2027 has been identified, contributing positively to the delivery of the €500 million operating cashflow improvement, previously announced at OMV’s Capital Markets Day in June 2024. Furthermore, the negotiations with the respective employee representatives have been initiated with regards to a potential labour impact in Austria, which is currently estimated to be in the region of mid three-digits.

Read the article online at: https://www.hydrocarbonengineering.com/special-reports/16092025/omv-strengthens-resilience-with-group-wide-programme/