Notes to the Income Statement (XLSX:) Download Summarized income statement In EUR mn 2021 2020 Δ Sales revenues 35,555 16,550 115% Other operating income and net income from equity-accounted investments 1,533 1,915 (20)% Total revenues and other income 37,087 18,465 101% Purchases (net of inventory variation) (20,257) (9,598) 111% Production and operating expenses incl. production and similar taxes (4,302) (2,218) 94% Depreciation, amortization, impairments and write-ups (3,750) (2,418) 55% Selling, distribution and administrative expenses (2,746) (1,896) 45% Exploration expenses (280) (896) (69)% Other operating expenses (688) (389) 77% Operating Result 5,065 1,050 n.m. Net financial result (194) (175) 11% Profit before tax 4,870 875 n.m. Taxes on income and profit (2,066) 603 n.m. Net income for the year 2,804 1,478 90% thereof attributable to hybrid capital owners 94 84 12% thereof attributable to non-controlling interests 617 136 n.m. Net income attributable to stockholders of the parent 2,093 1,258 66% Effective tax rate (%) 42 (69) 111 Sales to third parties 2021 (2020) In EUR mn if not otherwise stated (prior year) Total not consolidated sales 2021 (2020) In EUR mn if not otherwise stated (prior year) Sales revenues increased mainly due to additional revenues stemming from the full consolidation of Borealis as well as higher gas sales volumes and substantially higher market prices, especially gas prices. The sales split by geographical areas can be found in the Notes to the Consolidated Financial Statements (Note 4 – Segment Reporting). Other operating income decreased from EUR 1,877 mn in 2020 to EUR 933 mn in 2021. 2020 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. This effect was partly offset in 2021 with EUR 261 mn gains from the sale of the stake in the Norwegian oil field Wisting. Net income from equity-accounted investments increased from EUR 38 mn in 2020 to EUR 600 mn in 2021 mainly due to the positive contribution of Abu Dhabi Polymers Company Limited (Borouge) and Borouge Pte. Ltd. Both investments are held by Borealis and therefore the deviation is mainly impacted by the full consolidation of Borealis since October 29, 2020. Depreciation, amortization, impairments and write-ups increased mainly due to the full consolidation of Borealis leading to higher depreciation charges, the impairment losses recognized for the nitrogen business unit of Borealis and the impairment of the at-equity accounted investment ADNOC Refining. Details can be found in the Notes to the Consolidated Financial Statements (Note 7– Depreciation, amortization, impairments and write-ups). The decrease of exploration expenses was mainly related to the impairments booked in 2020 as OMV updated its mid-term plan and revised its long-term planning assumptions in 2020. Net financial result decreased chiefly due the lower net interest result which was partly offset by an improved foreign exchange result. For further details refer to the Notes to the Consolidated Financial Statements (Note 11 – Net financial result). The effective tax rate increased from (69%) in 2020 to 42% in 2021. The 2020 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. schließen mn Million schließen sales revenues Sales excluding petroleum excise tax schließen net income Net operating profit or loss after interest and tax Notes to the Cash Flow StatementNotes to Statement of Financial Position
