Notes to the Consolidated Statement of Financial Position

Consolidated Statement of Financial Position (summarized)

In EUR mn

 

 

 

 

2024

2023

Δ

Assets

 

 

 

Non-current assets

32,679

31,559

4%

Current assets

15,709

17,432

–10%

Assets held for sale

425

1,671

–75%

Equity and liabilities

 

 

 

Equity

24,617

25,369

–3%

Non-current liabilities

14,735

14,826

–1%

Current liabilities

9,404

9,846

–4%

Liabilities associated with assets held for sale

56

622

–91%

Total assets/equity and liabilities

48,813

50,663

–4%

Non-Current Assets:

Intangible assets and property, plant and equipment in 2024 were impacted by significant CAPEX spending. These effects were partially offset mainly by depreciation and impairment charges. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 16 – Intangible assets and Note 17 – Property, plant, and equipment).

Equity-accounted investments decreased from EUR 6,668 mn in 2023 to EUR 6,661 mn in 2024 mainly due to dividend distributions of EUR 776 mn, partly offset by EUR 396 mn in positive FX impacts and positive results of EUR 299 mn mostly from Borouge PLC and ADNOC Global Trading. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 18 – Equity-accounted investments).

Current Assets:

The decrease in derivatives from EUR 742 mn to EUR 220 mn was mainly related to the gas business and primarily associated with changes in spreads.

Cash and cash equivalents decreased from EUR 6,920 mn to EUR 6,182 mn. For more details, please refer to the Notes to the cash flow statement in the Director’s Report chapter.

Assets Held for Sale and Liabilities Associated with Assets Held for Sale:

The decrease was primarily impacted by the completion of the sale of OMV’s 50% share in the Malaysian SapuraOMV Upstream Sdn. Bhd. in 2024. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 4 – Significant changes in Group structure).

Non-Current Liabilities:

The increase in bonds was mainly related to the issuance of two new bonds with a nominal value of EUR 500 mn each, partly offset by short-term reclassifications of approx. EUR 800 mn. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 26 – Liabilities).

Other interest-bearing debts decreased mainly due to short-term reclassifications of loans of approx. EUR 330 mn.

Current Liabilities:

The increase in bonds was mainly related to short-term reclassifications of approx. EUR 800 mn, partly offset by the repayment of a bond with a nominal value of EUR 500 mn. For further details please refer to the Notes to the Consolidated Financial Statements (Note 26 – Liabilities).

ADNOC
Abu Dhabi National Oil Company
CAPEX
Capital expenditure

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