Notes to the Income Statement

Sales to third parties 2020 (2019)

In EUR mn if not otherwise stated (prior year)

Total not consolidated sales 2020 (2019)

In EUR mn if not otherwise stated (prior year)

Sales revenues decreased mainly due to overall lower global commodity price environment and reduced sales volumes for most products, predominantly caused by the effects of the COVID-19 pandemic. The sales split by geographical areas can be found in the Notes to the Consolidated Financial Statements (Note 4 – Segment Reporting).

Other operating income increased from EUR 280 mn in 2019 to EUR 1,877 mn in 2020 and was mainly impacted by EUR 1,284 mn gains from revaluation and recycling effects related to the previously held at-equity share of 36% in Borealis. Further details on the Borealis acquisition can be found in the Notes to the Consolidated Financial Statements (Note 3 – Changes in group structure).

Net income from equity-accounted investments decreased from EUR 386 mn to EUR 38 mn mainly due to the negative contribution of Abu Dhabi Oil Refining Company, driven by negative inventory effects due to prolonged turnaround and negative market environment. Also, there was a lower contribution from Borealis as it was consolidated at-equity only until October 2020 and additionally the result was negatively impacted by a drop in petrochemical margins following COVID-19 impact on polyolefin business and negative inventory effects in the first half of 2020.

In Q3/20, OMV updated its mid-term plan and revised its long-term planning assumptions which lead to significant impairments, impacting the lines “Depreciation, amortization, impairments and write-ups” as well as “Exploration expenses”. Details can be found in the Notes to the Consolidated Financial Statements (Note 7– Depreciation, amortization, impairments and write-ups).

Net financial result decreased mainly due to negative FX result which was only partly offset by lower interest expenses. For further details refer to the Notes to the Consolidated Financial Statements (Note 11 – Net financial result).

The effective tax rate was significantly affected by income from tax synergies from the acquisition of additional shares in Borealis that led to write-up of deferred tax assets in the Austrian tax group (among other effects). For further details on the group’s effective tax rate, please refer to Note 12 – Taxes on income and profit – of the Consolidated Financial Statements.