Topics filter

Results

21 – Other assets

Other assets

In EUR mn

 

 

 

 

 

2023

2022

 

Short-term

Long-term

Short-term

Long-term

Prepaid expenses

89

13

84

15

Advance payments on fixed assets

184

72

14

Other payments on account

124

25

194

16

Receivables from other taxes and social security

202

40

395

40

Contract assets

8

8

Emission rights1

630

657

Emission rights to be received from customers1

42

36

Other non-financial assets

81

80

194

22

Other assets

1,351

165

1,632

115

1

For further details refer to Note 2 – Effects of climate change and the energy transition.

The increase in “Advance payments on fixed assets” is mainly attributable to the Neptun Deep project in Romania.

OMV voluntarily changed its accounting policy for the presentation of purchased emissions certificates and provisions for CO2 emissions in the balance sheet. For more details refer to Note 3 – Accounting policies, judgments, and estimates.

“Other non-financial assets” in 2022 mainly consisted of receivables from Romanian authorities in relation to compensation for the sales of natural gas at capped prices to clients that were allocated to the Company as a Supplier of Last Resort and for electricity sales at capped prices. It also included receivables in relation to the subsidies for half of the 0.50 RON per liter voluntary price reduction for the sale of diesel and gasoline in Romania, which applied only in 2022.