Notes to the Consolidated Statement of Financial Position

Non-current assets:

Intangible assets and property, plant and equipment in 2023 were impacted, among others, by significant investments, however, this was almost offset by the reclassification of SapuraOMV to assets held for sale (Note 22 – Assets and liabilities held for sale – in the Notes to the Consolidated Financial Statements).

Equity-accounted investments decreased by EUR 626 mn to EUR 6,668 mn impacted by EUR 786 mn dividend distributions and negative FX impacts, partly offset by positive results mostly from Borouge PLC and Abu Dhabi Oil Refining Company as well as EUR 94 mn capital contributions mainly to Bayport Polymers LLC. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 18 – Equity-accounted investments).

Current assets:

Inventories decreased from EUR 4,834 mn in 2022 to EUR 3,529 mn in 2023 mainly impacted by lower prices. For further details please refer to the Notes to the Consolidated Financial Statements (Note 19 – Inventories).

Decrease in derivatives from EUR 2,377 mn to EUR 742 mn was mainly related to the gas business.

Assets held for sale and liabilities associated with assets held for sale:

In 2023, these positions were primarily impacted by the completion of the Borealis nitrogen business unit sale, which was partly offset by the reclassification of the SapuraOMV disposal group to “held for sale,” following the decision to enter into negotiations with interested bidders. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 22 – Assets and liabilities held for sale).

Non-current liabilities:

Bonds decrease was mainly related to short-term reclassifications of EUR 750 mn. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 26 – Liabilities).

Current liabilities:

Trade liabilities decreased from EUR 5,259 mn in 2022 to EUR 3,955 mn in 2023 as a result of both lower prices and lower quantities sold.

Bonds decrease was mainly related to short-term reclassifications of EUR 750 mn, which was more than offset by the repayments in the amount of EUR 1,250 mn. For further details please refer to the Notes to the Consolidated Financial Statements (Note 26 – Liabilities).

Income tax liabilities decrease of EUR 1,590 mn related mainly to OMV Norway and was due to lower taxable income and significant payments made during the first half of 2023 with respect to the previous year.

Financial liabilities from derivatives decreased from EUR 1,263 mn to EUR 386 mn, mainly related to the gas business.