Topics filter

Results

24 – Non-controlling interests

(XLSX:) Download

Subgroups with material NCI

In EUR mn

 

 

 

 

 

 

 

2023

2022

Subgroups

% NCI

Net income allocated to NCI

Accumulated NCI

% NCI

Net income allocated to NCI

Accumulated NCI

OMV Petrom Group

49%

398

3,848

49%

1,023

3,980

Borealis Group

25%

–21

3,021

25%

424

3,212

SapuraOMV Group

50%

–13

251

50%

21

274

Other subsidiaries

n.a.

2

10

n.a.

1

13

OMV Group

n.a.

366

7,131

n.a.

1,470

7,478

The proportion of ownership corresponds to the proportion of voting rights of the non-controlling interests () in all cases.

The main activities of the OMV Petrom Group, the largest energy company in Southeastern Europe, are oil and gas exploration and production (in Romania, Bulgaria, and Georgia), refining of crudes (in Romania), marketing of petroleum products (in Romania, Bulgaria, Serbia, and Moldova) and marketing of natural gas as well as production and sales of electricity (in Romania and neighboring countries). On November 3, 2022, OMV Petrom SA completed the share capital increase, and as a result the non-controlling interests in the OMV Petrom Group increased by EUR 39 . The cash received from third-party shareholders amounted to EUR 30 mn in 2022 and was shown in the Consolidated Statement of Cash Flows in the line item “Increase in non-controlling interest”.

The Borealis Group is one of the world’s leading providers of advanced and circular polyolefin solutions, a European market leader in polyolefins recycling, and a major producer of base chemicals. The majority of Borealis’ production is located in Europe, with two overseas manufacturing facilities in the United States, one in Brazil and one in South Korea.

The SapuraOMV Group is an oil and gas company based in Malaysia with strong growth prospects consisting of sizeable discovered resources and a strong portfolio of exploration prospects. In addition to Malaysia, it has access to exploration blocks in New Zealand, Australia, and Mexico. The SapuraOMV Group has been reclassified to assets and liabilities associated with assets held for sale in 2023 (see Note 22 – Assets and liabilities held for sale).

The following tables summarize the financial information of the subgroups with material non-controlling interests:

(XLSX:) Download

Statement of comprehensive income of subgroups with material NCI1

In EUR mn

 

 

 

 

 

2023

2022

 

OMV Petrom Group

Borealis Group

OMV Petrom Group

Borealis Group

Sales revenue

7,845

7,770

12,440

11,686

Net income for the year

815

33

2,089

1,690

Total comprehensive income

811

–438

2,079

1,941

Attributable to NCI

396

–138

1,019

488

Dividends paid to NCI

498

88

436

175

1

Figures refer to subgroup level, i.e., including at-equity consolidation and after elimination of intercompany transactions and balances within the subgroup.

(XLSX:) Download

Statement of financial position as of December 31 of subgroups with material NCI1

In EUR mn

 

 

 

 

 

2023

2022

 

OMV Petrom Group

Borealis Group

OMV Petrom Group2

Borealis Group

Non-current assets

7,109

11,489

6,509

11,043

Current assets

4,579

4,779

5,308

5,177

Assets held for sale

—

—

3

1,334

Non-current liabilities

2,064

2,611

1,647

2,782

Current liabilities

1,710

1,595

1,989

1,472

Liabilities associated with assets held for sale

—

—

—

471

1

Figures refer to subgroup level, i.e. including at-equity consolidation and after elimination of intercompany transactions and balances within the subgroup.

2

Comparative information dated December 31, 2022, has been restated. For further details see Note 3 – Accounting policies, judgments, and estimates.

(XLSX:) Download

Statement of cash flows of subgroups with material NCI1

In EUR mn

 

 

 

 

 

2023

2022

 

OMV Petrom Group

Borealis Group

OMV Petrom Group

Borealis Group

Operating cash flow

2,045

945

2,299

1,572

Investing cash flow

–1,158

–359

–629

–58

Financing cash flow

–1,071

–480

–872

–824

Net increase (+)/decrease (–) in cash and cash equivalents

–198

105

795

691

1

Figures refer to subgroup level, i.e., including at-equity consolidation and after elimination of intercompany transactions and balances within the subgroup.
NCI
Non-controlling interests
mn
Million

You might also be interested in