Notes to the Income Statement

Sales Revenues

In EUR mn

 

 

 

 

 

2019

2018

Δ

% of group total

Sales to third parties

 

 

 

 

Upstream

2,583

2,170

19%

11%

Downstream

20,874

20,756

1%

89%

thereof Downstream Oil

15,039

14,707

2%

64%

thereof Downstream Gas

5,835

6,049

(4)%

25%

Corporate and Other

4

4

(8)%

0%

Total

23,461

22,930

2%

100%

 

 

 

 

 

Intersegmental sales

 

 

 

 

Upstream

3,656

3,386

8%

90%

Downstream

84

74

14%

2%

thereof Downstream Oil

46

48

(4)%

1%

thereof Downstream Gas

141

166

(15)%

3%

thereof inter-segmental elimination Downstream

(103)

(139)

26%

(3)%

Corporate and Other

341

335

2%

8%

Total

4,081

3,795

8%

100%

 

 

 

 

 

Total Sales (not consolidated)

 

 

 

 

Upstream

6,239

5,556

12%

23%

Downstream

20,958

20,830

1%

76%

thereof Downstream Oil

15,085

14,755

2%

55%

thereof Downstream Gas

5,976

6,215

(4)%

22%

thereof inter-segmental elimination Downstream

(103)

(139)

26%

0%

Corporate and Other

345

339

2%

1%

Total

27,542

26,725

3%

100%

Sales of the Upstream Business Segment increased by 12%, impacted mainly by the new acquisitions in Abu Dhabi, New Zealand and Malaysia. Increase in the Downstream Business Segment was mainly driven by higher quantities sold in Downstream Oil, amounting to 55% of the total not consolidated sales, partially offset by the decrease of sales in Downstream Gas. After the elimination of the intersegmental sales, total to third parties increased by 2% to  23,461 . Sales to third parties split by geographical areas can be found in the Notes to the Consolidated Financial Statements (Note 4 – Segment Reporting).

Other operating income decreased to EUR 315 mn in 2019 (2018: EUR 517 mn). In 2019 OMV agreed to sell its 69% interest in Maari field, New Zealand and this led to the reclassification of the assets and liabilities to “held for sale”, which triggered a pre-tax write-up amounting to EUR 34 mn. 2018 was impacted by reversals of past impairments in Romania and Norway due to significant improvement of operating performance (EUR 105 mn). Furthermore, a gain of EUR 52 mn related to the disposal of the Upstream companies active in Pakistan and a gain on disposal of the subsidiary OMV Tunisia Upstream GmbH amounting to  39 contributed to the 2018 income.

Income from equity-accounted investments amounted to EUR 386 mn (2018: EUR 391 mn) and mainly reflected the 36% share of the result from the Borealis Group amounting to EUR 314 mn (2018: EUR 327 mn).

Purchases (net of inventory variation), which include the cost of goods and materials used for conversion into finished or intermediary products as well as goods purchased for reselling, as well as inventory changes and write-offs, totaled EUR (13,608) mn (2018: EUR (14,094) mn).

Other operating expenses totaled EUR (322) mn in 2019 (2018: EUR (485) mn). 2018 included a loss on the divestment of OMV Samsun Üretim Sanayi ve Ticaret A.Ş. of EUR (150) mn. Research and development (R&D) expenses, which are included in Other operating expenses, amounted to EUR (49) mn (2018: EUR (40) mn).

The net financial result improved significantly to EUR (129) mn (2018: EUR (226) mn), mainly as a result of an improved foreign exchange result and higher interest income. Dividend income amounted to EUR 5 mn (2018: EUR 20 mn).

Income taxes

 

 

 

 

 

 

2019

2018

Current taxes

in EUR mn

(1,207)

(1,007)

Deferred taxes

in EUR mn

(100)

(298)

Taxes on income and profit

in EUR mn

(1,306)

(1,305)

Effective tax rate

in %

38

40

The Group’s effective tax rate decreased slightly to 38% (2018: 40%). For further details, please refer to Note 12 – Taxes on income and profit – of the Consolidated Financial Statements.

Summarized income statement

In EUR mn

 

 

 

 

2019

2018

Δ

Sales revenues

23,461

22,930

2%

Other operating income

315

517

(39)%

Net income from equity-accounted investments

386

391

(1)%

Purchases (net of inventory variation)

(13,608)

(14,094)

(3)%

Production and operating expenses

(1,695)

(1,594)

6%

Production and similar taxes

(496)

(392)

26%

Depreciation, amortization and impairment charges

(2,337)

(1,827)

28%

Selling, distribution and administrative expenses

(1,892)

(1,749)

8%

Exploration expenses

(229)

(175)

31%

Other operating expenses

(322)

(485)

(34)%

Operating Result

3,582

3,524

2%

Net financial result

(129)

(226)

(43)%

Taxes on income and profit

(1,306)

(1,305)

0%

Net income for the year

2,147

1,993

8%

thereof attributable to hybrid capital owners

75

78

(3)%

thereof attributable to non-controlling interests

393

477

(18)%

Net income attributable to stockholders of the parent

1,678

1,438

17%

sales revenues
Sales excluding petroleum excise tax
EUR
Euro
mn
Million
EUR
Euro
mn
Million