By Nathan Allen

OMV AG (OMV.VI) said Wednesday that earnings almost doubled in the fourth quarter as sales rose sharply on higher oil prices.

Fourth-quarter net profit at the Austrian oil-and-gas company was 608 million euros ($694.3 million) up from EUR311 million a year earlier.

Sales rose 35% to EUR6.64 billion from EUR4.91 billion, the company said.

Analysts had expected net profit of EUR466 million on sales of EUR6.22 billion, according to a consensus compiled by FactSet.

OMV attributed the strong results to higher oil-and-gas prices, as well as an uptick in sales volumes in Russia and the United Arab Emirates.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 06, 2019 01:27 ET (06:27 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Omv Ag Bearer (PK) (USOTC:OMVKY)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Omv Ag Bearer (PK) Charts.
Omv Ag Bearer (PK) (USOTC:OMVKY)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Omv Ag Bearer (PK) Charts.