OMV上调欧洲石化品利润率预期

Core Insights - OMV has raised its profit margin expectations for olefins, polyethylene (PE), and overall polyolefin sales for the year, anticipating that European ethylene and propylene profit margins will exceed earlier forecasts [1][2] - Despite ongoing pressure in the European chemicals market, OMV's performance in the first half of 2025 has surpassed expectations [1] Group 1: Profit Margin Expectations - OMV now expects its annual polyethylene profit margin to be significantly higher than the previously predicted level of €400 per ton [1] - The company has adjusted its profit margin expectations for ethylene and propylene to above €520 and €385 per ton, respectively [2] - The PE profit margin is now anticipated to be significantly above €400 per ton, while the polypropylene (PP) profit margin expectation has been downgraded to approximately €400 per ton [2] Group 2: Market Conditions and Production Capacity - OMV's CEO highlighted that ongoing olefin capacity optimization in Europe will support existing producers, with up to 4 million tons per year of capacity potentially being closed by the end of the year [2] - The company has invested in upgrading its cracking facilities in Finland and Sweden to utilize lighter feedstocks, positioning its assets favorably on the European cash cost curve [2] - Despite lower raw material costs and capacity shutdowns enhancing profit margins, OMV remains cautious about market conditions in the second half of the year due to expected weak demand and uncertainties related to tariff implementations [2]