11 – Net financial result
In EUR mn |
|
|
|
2020 |
2019 |
|---|---|---|
Cash & cash equivalents |
38 |
52 |
Discounted receivables |
17 |
24 |
Other financial and non-financial assets |
30 |
23 |
Loans |
88 |
70 |
Other |
3 |
— |
Interest income |
177 |
169 |
Other financial and non-financial assets mainly included late payment interest income in relation to successful arbitration in Romania in 2020, while 2019 primarily contained late payment interest income in relation to clarification of a tax related topic in Romania.
Interest income from loans included EUR 84 mn (2019: EUR 70 mn) related to the Nord Stream 2 financing agreement. For further details see Note 18 – Financial assets.
In EUR mn |
|
|
|
2020 |
2019 |
|---|---|---|
Bonds |
136 |
129 |
Lease liabilities |
24 |
23 |
Other financial and non-financial liabilities |
20 |
27 |
Provisions for decommissioning and restoration obligations |
74 |
91 |
Provisions for jubilee payments, personnel reduction plans and other employee benefits |
2 |
2 |
Provisions for pensions and severance payments |
11 |
19 |
Provisions for onerous contracts |
15 |
17 |
Other |
5 |
2 |
Interest expenses, gross |
287 |
309 |
Capitalized borrowing costs |
(7) |
(6) |
Interest expenses |
280 |
304 |
For further details on bonds see Note 24 – Liabilities.
For OMV Petrom SA the unwinding expenses for decommissioning provision are included net of the unwinding income for related state receivables. For further details see Note 18 – Financial assets.
The interest expenses on pension provisions were netted against interest income on pension plan assets which amounted to EUR 5 mn (2019: EUR 8 mn).
Provisions for onerous contracts included of unwinding expenses for the Gate LNG obligation and associated transportation commitments of OMV Gas Marketing & Trading GmbH. For further details see Note 23 – Provisions.
Capitalized borrowings costs applied to the carrying value of qualifying assets and were mainly related to oil and gas development assets in Tunisia and Norway.
In EUR mn |
|
|
|
2020 |
2019 |
|---|---|---|
Carrying amount of sold trade receivables |
(5,212) |
(5,771) |
Proceeds on sold trade receivables |
5,189 |
5,740 |
Financing charges for factoring and securitization |
(24) |
(31) |
Net foreign exchange gains/(losses) |
(53) |
40 |
Other |
(14) |
(8) |
Other financial income and expense |
(91) |
1 |
In 2020 Net foreign exchange gains/(losses) were predominately impacted by RUB and USD. 2019 was additionally predominately impacted by NOK.
The position Other was mainly related to bank charges.