Notes to the Income Statement
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 sales revenues to third parties increased by 2% to EUR 23,461 mn. 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 EUR 39 mn 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).
|
|
|
|
|
|
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.
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% |