OMV has announced a Group-wide initiative aimed at enhancing its long-term resilience and competitiveness in response to ongoing commercial, economic, and geopolitical challenges. The company reaffirmed its commitment to the Strategy 2030 plan, which focuses on advancing progress across its chemicals, fuels, and energy business segments.
Alfred Stern, Chairman of the Executive Board and Chief Executive Officer, stated: “Future-proofing our business and strengthening our competitiveness are key to continuing to seamlessly serve all our customers and stakeholders. Amid a challenging market and volatile geopolitical environment, we are setting us up for long-term resilience and successfully 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 new program will take an integrated approach by reviewing all ongoing efficiency initiatives within OMV. Key elements include prioritizing investments in value-adding areas and simplifying processes through increased standardization. The company plans to make greater use of technologies such as artificial intelligence (AI), digital tools, and automation to enhance agility and improve customer experience.
OMV also intends to strengthen its Global Business Services (GBS) organization as part of efforts to simplify recurring activities. This is expected to allow for better access to talent pools worldwide while supporting faster scalability through global resources. The company’s approach is built on process ownership, standardization, and accelerating digital transformation.
A cost savings target of EUR 400 million by the end of 2027 has been set as part of these measures. This contributes toward OMV’s previously announced goal of improving operating cash flow by EUR 500 million by 2027. Negotiations have started with employee representatives concerning possible workforce impacts in Austria; current estimates suggest this could affect several hundred positions.
Further details about these initiatives will be provided at a later date.
OMV is focused on becoming an integrated sustainable chemicals, fuels, and energy company with an emphasis on circular economy solutions. It aims for net zero emissions by 2050 at the latest. In 2024, OMV reported revenues of EUR 34 billion with approximately 23,600 employees worldwide.
