Accounting policy
Non-current assets and disposal groups are classified as held for sale if their carrying amounts are to be realized by sale rather than through continued use. This is the case when the sale is highly probable, and the asset or disposal group is available for immediate sale in its present condition. At OMV, these conditions are normally considered not to be fulfilled before binding offers from interested parties are received.
Non-current assets and disposal groups classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell. Property, plant and equipment and intangible assets once classified as held for sale are no longer amortized or depreciated and investments in associates and joint ventures are no longer accounted for at equity.
In EUR mn |
|
|
|---|---|---|
|
Energy |
OMV Group |
|
|
|
|
2024 |
|
Intangible assets |
31 |
31 |
Property, plant and equipment |
385 |
385 |
Non-current assets |
416 |
416 |
Inventories |
2 |
2 |
Other assets |
7 |
7 |
Current assets |
9 |
9 |
Total assets |
425 |
425 |
Provisions for decommissioning and restoration obligations |
2 |
2 |
Other liabilities |
18 |
18 |
Non-current liabilities |
19 |
19 |
Other liabilities incl. provisions |
37 |
37 |
Current liabilities |
37 |
37 |
Total liabilities |
56 |
56 |
In EUR mn |
|
|
|
|---|---|---|---|
|
SapuraOMV |
Yemen |
|
|
Energy |
OMV Group |
|
|
|
||
|
2023 |
||
Intangible assets |
272 |
– |
272 |
Property, plant, and equipment |
1,059 |
8 |
1,067 |
Other assets incl. deferred taxes |
4 |
2 |
6 |
Non-current assets |
1,335 |
10 |
1,345 |
Inventories |
1 |
21 |
22 |
Trade receivables |
30 |
0 |
30 |
Other assets |
153 |
31 |
184 |
Cash at bank and in hand |
88 |
3 |
91 |
Current assets |
272 |
55 |
327 |
Total assets |
1,607 |
65 |
1,671 |
Provisions for pensions and similar obligations |
– |
15 |
15 |
Provisions for decommissioning and restoration obligations |
6 |
– |
6 |
Other liabilities incl. provisions |
0 |
10 |
10 |
Deferred taxes |
319 |
– |
319 |
Non-current liabilities |
325 |
25 |
351 |
Trade payables |
208 |
9 |
217 |
Provisions for decommissioning and restoration obligations |
2 |
– |
2 |
Other liabilities incl. provisions |
36 |
17 |
52 |
Current liabilities |
245 |
26 |
271 |
Total liabilities |
571 |
51 |
622 |
Energy
On December 9, 2024, the sale of OMVs 50% share in the Malaysian SapuraOMV Upstream Sdn. Bhd. to TotalEnergies was finalized. For further details please refer to Note 4 – Significant changes in Group structure.
In 2024, OMV decided to no longer pursue the sale of its Yemen entities and consequently they were reclassified back from assets held for sale and liabilities associated with assets held for sale.
A divestment process that has been initiated in 2024 for an oil and gas asset in the Energy segment, which led to the reclassification to held for sale. Based on the fair value less costs to sell, an impairment in the amount of EUR 125 mn was recognized. Assets held for sale and liabilities associated with assets held for sale as of December 31, 2024 were fully related to this divestment process.