OMV Profits Up on Libya Output

Austrian energy company OMV has boosted its dividend after fourth-quarter profit rose on increased production in Libya.

Net income attributable to stockholders was up 19 percent on the same quarter last year, to EUR 393 million ($521 million).

Net rose 19 percent, to 393 million euros ($521 million), on sales of 11.4 billion euros, the Vienna-based company said today on its website. That was in line with the average estimates of analysts surveyed by Bloomberg.

Chief Executive Officer Gerhard Roiss (pictured) said in the statement:

"In 2012, we managed to deliver a record financial performance while successfully progressing our strategy. We benefited from the return of production in Libya and from a stabilized, on-target production in Romania and Austria."

(Source: OMV)

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