26. Liabilities

Other interest-bearing debts predominantly referred to bank loans, but also included private placements and other funding instruments.

Lease liabilities increased mainly in relation to leased vessels in Finland, Sweden, and Romania and storage infrastructure in Sweden. For further details on lease contracts please refer to Note 17 – Property, plant, and equipment.

For further details on cash and non-cash effective changes in bonds, other interest-bearing debts, and lease liabilities please refer to Note 27 – Consolidated Statement of Cash Flows.

Supplier finance

OMV participates in several supplier finance programs under which its suppliers may elect to receive early payment of their invoice from a bank by factoring their receivable from the Group to the bank. Under these arrangements, the bank agrees to pay amounts to a supplier participating in the program in respect of invoices owed by the Group and receives settlement from OMV later. The principal purpose of these programs is to facilitate efficient payment processing and enable the consenting suppliers to sell their receivables due from OMV to a bank before their maturity.

Due to access to supplier finance facilities with multiple finance providers, there is no significant liquidity risk related to the supplier finance programs. OMV has agreements with more than one bank in place, reducing the concentration of liquidity risk. The following table represents the impact of the supplier finance arrangements on the liabilities of the Group for 2024 (the carrying amount of liabilities in scope of supplier finance arrangements as of December 31, 2023, amounted to EUR 102 mn of trade liabilities and EUR 23 mn of other financial liabilities).

Bonds

Bonds and other interest-bearing debts

As of December 31, 2024, long-term bonds and other interest-bearing debts included EUR 510 mn loan arrangements, which were subject to OMV Group complying with financial covenants.

As of December 31, 2024 and as of December 31, 2023, the OMV Group was in compliance with all those financial covenants and had significant headroom compared to the thresholds stipulated by the loans agreements.

Other financial liabilities

The table below summarizes the maturity profile of the Group’s financial liabilities based on contractual undiscounted cash flows:

Other liabilities

The decrease in other taxes and social security liabilities was mainly impacted by the payment of the solidarity tax on refined crude oil in Romania, which was introduced in 2023. Further details are included in Note 2 – Accounting policies, judgments, and estimates

The contract liabilities consisted mainly of non-refundable prepayments of storage fees received from Erdöl-Lagergesellschaft m.b.H., Lannach on the basis of long-term service contracts, future product deliveries, sold vouchers, and cash received for customer loyalty programs from OMV’s retail business.