Glossary

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A B C D E F G H I K L M N Ö O P R S T U V W

A

  • ACCG

    Austrian Code of Corporate Governance

  • ADNOC

    Abu Dhabi National Oil Company

  • AGM 

    Annual General Meeting

  • APS

    Announced Pledges Scenario

  • ARMS

    Active Risk Management System

B

  • bbl

    Barrel (1 barrel equals approximately 159 liters)

  • bcf

    Billion standard cubic feet

  • boe

    Barrel of oil equivalent

C

  • C&O

    Corporate and Other

  • CAGR

    Compounded annual growth rate

  • CAPEX

    Capital expenditure

  • Capital employed

    Equity including non-controlling interests plus net debt

  • CbCR

    Country-by-Country Report

  • CCBS

    Climate, Community & Biodiversity Standard

  • CCS/CCS effects/inventory holding gains/(losses)

    Current Cost of Supply Inventory holding gains and losses represent the difference between the cost of sales calculated using the current cost of supply and the cost of sales calculated using the weighted average method after adjusting for any changes in valuation allowances in case the net realizable value of the inventory is lower than its cost. In volatile energy markets, measurement of the costs of petroleum products sold based on historical values (e.g., weighted average cost) can have distorting effects on reported results (Operating Result, net income, etc.). The amount disclosed as CCS effect represents the difference between the charge to the income statement for inventory on a weighted average basis (adjusted for the change in valuation allowances related to net realizable value) and the charge based on the current cost of supply; the current cost of supply is calculated monthly using data from supply and production systems.

  • CCS/CCUS

    Carbon Capture, (Utilization) and Storage

  • CDM

    Clean Development Mechanism

  • CEGH

    Central European Gas Hub

  • cf

    Standard cubic feet (60°F/16°C)

  • CGMs 

    Community Grievance Mechanisms

  • CGU

    Cash generating unit

  • Clean CCS EPS

    Clean CCS Earnings Per Share are calculated as clean CCS net income attributable to stockholders divided by weighted number of shares.

  • Clean CCS net income attributable to stockholders

    Net income attributable to stockholders, adjusted for the after-tax effect of special items and CCS

  • Clean CCS Operating Result

    Operating Result adjusted for special items and CCS effects The Group clean CCS Operating Result is calculated by adding the clean CCS Operating Result of F&F, the clean Operating Result of other segments and the reported consolidation effect adjusted for changes in valuation allowances, in case the net realizable value of the inventory is lower than its cost.

  • Clean CCS ROACE

    The clean CCS Return On Average Capital Employed is calculated as NOPAT (as a sum of current and last three quarters) adjusted for the after-tax effect of special items and CCS, divided by average capital employed (%).

  • CMF

    Corrosion Management Framework

  • CR&D

    Community Relations and Development

  • CSDDD

    Corporate Sustainability Due Diligence Directive

  • CSRD

    Corporate Sustainability Reporting Directive

D

  • DS

    Downstream

E

  • E&A

    Exploration & Appraisal

  • E&P

    Exploration & Production, part of Energy business segment

  • ECL

    Expected credit losses

  • EMS

    Environmental Management System

  • eMSP

    eMobility Service Provider

  • EPCC

    Engineering, Procurement, Construction and Commissioning

  • EPS

    Earnings Per Share; net income attributable to stockholders divided by total weighted average shares

  • EPSA

    Exploration and Production Sharing Agreement

  • Equity ratio

    Equity divided by balance sheet total, expressed as a percentage

  • ERGs

    Employee Resource Groups

  • ESIA

    Environmental and Social Impact Assessment

  • Ethylene indicator margin Europe

    Ethylene CP WE (ICIS) – 1.18 * Naphtha FOB Rotterdam

  • EVG&D

    Economic Value Generated and Distributed

  • EWRM

    Enterprise-Wide Risk Management

F

  • F&F

    Fuels & Feedstock business segment

  • FIFO method

    First-in First-Out method

  • FPIC

    Free, Prior, and Informed Consent

  • FVOCI

    Fair value through other comprehensive income

  • FVTPL

    Fair value through the statement of profit or loss

G

  • GBF

    Global Biodiversity Framework

  • GFMR

    Global Flaring and Methane Reduction Partnership

  • GHG

    Greenhouse gas

H

  • HiPos

    High-Potential Incidents

  • HVO

    Hydrotreated vegetable oil

I

  • IAS

    International Accounting Standards

  • ICoC

    International Code of Conduct for Private Security Service Providers

  • IEA

    International Energy Agency

  • IFRS

    International Financial Reporting Standards

  • ISCC

    International Sustainability & Carbon Certification

K

  • kbbl

    Thousand barrels

  • kboe

    Thousand barrels of oil equivalent

  • KStG

    Austrian Corporate Income Tax Act

L

  • LCA

    Life Cycle Assessment

  • LDAR

    Leak Detection and Repair

  • Leverage ratio

    Net debt divided by capital employed, expressed as a percentage

  • LNG

    Liquefied natural gas

  • LoPC

    Losses of Primary Containment events

  • LPG

    Liquefied petroleum gas

  • LTIP

    Long-Term Incentive Plan

  • LTIR

    Lost-Time Injury Rate per million hours worked

M

  • MTP

    Mid-term planning

N

  • n.a.

    Not applicable

  • n.m.

    Not meaningful

  • NCI

    Non-controlling interests

  • NEC

    National Emissions Ceiling

  • Net assets

    Intangible assets, property, plant and equipment, equity-accounted investments, investments in other companies, loans granted to equity-accounted investments, and total net working capital less provisions for decommissioning and restoration obligations

  • Net debt

    Interest-bearing debts including bonds and finance lease liabilities less liquid funds (cash and cash equivalents)

  • Net income

    Net operating profit or loss after interest and tax

  • NGL

    Natural Gas Liquids; natural gas that is extracted in liquid form during the production of hydrocarbons

  • NMVOCs

    Non-Methane Volatile Organic Compounds

  • NOPAT

    Net Operating Profit After Tax Net income + Net interest related to financing – Tax effect of net interest related to financing.
    NOPAT is a KPI that shows the financial performance after tax, independent of the financing structure of the company.

  • NZE

    Net Zero Emissions Scenario

Ö

  • ÖBAG

    Österreichische Beteiligungs AG

O

  • OCI

    Other comprehensive income

  • OECM

    One Earth Climate Model

  • OO

    Own Operations

  • OPEX

    Operating expenditure

P

  • Payout ratio

    Dividend per share divided by earnings per share, expressed as a percentage

  • PDH

    Propane dehydrogenation; a propylene production process

  • Pearl

    Pearl Petroleum Company Limited

  • PoC

    Points of Contact

  • Polyethylene indicator margin Europe

    HD BM FD EU Domestic EOM (ICIS low) – Ethylene CP WE (ICIS)

  • Polypropylene indicator margin Europe

    PP Homo FD EU Domestic EOM (ICIS low) – Propylene CP WE (ICIS)

  • PoS

    Proofs of Sustainability

  • PPE

    Property, plant and equipment

  • Propylene indicator margin Europe

    Propylene CP WE (ICIS) – 1.18 * Naphtha FOB Rotterdam

  • PSER

    Process Safety Event Rate

R

  • RFCC

    Residue fluid catalytic cracking; technology for upgrading heavy feedstocks into light products

  • ROACE

    Return On Average Capital Employed; NOPAT divided by average capital employed expressed as a percentage

  • ROE

    Return On Equity; net income/loss for the year divided by average equity, expressed as a percentage

  • RRR

    Reserve Replacement Rate; total changes in reserves excluding production, divided by total production

S

  • SAF

    Sustainable Aviation Fuel

  • Sales revenues

    Sales excluding petroleum excise tax

  • SDs

    Sustainability Declarations

  • SHIA

    Social and Human Rights Impact Assessment

  • SIA

    Social Impact Assessments

  • SIR

    Strategy Implementation Review

  • Special items

    Special items are expenses and income reflected in the financial statements that are disclosed separately, as they are not part of underlying ordinary business operations. They are being disclosed separately in order to enable investors to better understand and evaluate the OMV Group’s reported financial performance.

  • STEPS

    Stated Policies Scenario

T

  • THE

    Trading Hub Europe; German natural gas market trading hub

  • TRIR

    Total Recordable Injury Rate per million hours worked

  • TSR

    Total Shareholder Return

  • TTF

    The Title Transfer Facility; a virtual trading point for natural gas in the Netherlands

U

  • US

    Upstream

V

  • VCS

    Verified Carbon Standard

  • VPs

    Voluntary Principles on Security and Human Rights

W

  • WIMS

    Well Integrity Management System

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