20 – Assets and liabilities held for sale
In EUR mn |
|
|
|
|
|
|
|
|
|
|
|
Gas Connect Gruppe |
OMV retail network Germany |
Other |
Total |
|
|
|
|
|
Upstream |
Downstream |
OMV Group |
Upstream |
Downstream |
OMV Group |
|||
|---|---|---|---|---|---|---|---|---|---|
|
|
|
|||||||
|
2020 |
2019 |
|||||||
Intangible assets |
26 |
68 |
10 |
— |
77 |
104 |
27 |
— |
27 |
Property, plant and equipment |
255 |
629 |
231 |
10 |
870 |
1,124 |
120 |
13 |
133 |
At-equity accounted investments |
— |
54 |
— |
— |
54 |
54 |
— |
— |
— |
Other assets incl. deferred taxes |
13 |
13 |
4 |
— |
17 |
30 |
— |
— |
— |
Non-current assets |
293 |
763 |
245 |
10 |
1,018 |
1,312 |
146 |
13 |
160 |
Inventories |
14 |
6 |
19 |
— |
25 |
39 |
5 |
— |
5 |
Trade receivables |
9 |
17 |
36 |
— |
53 |
62 |
— |
— |
— |
Other assets |
27 |
9 |
0 |
— |
9 |
36 |
5 |
— |
5 |
Cash in hand and at bank |
15 |
0 |
— |
— |
0 |
15 |
7 |
— |
7 |
Current assets |
64 |
32 |
56 |
— |
88 |
152 |
18 |
— |
18 |
Total assets |
358 |
795 |
301 |
10 |
1,106 |
1,464 |
164 |
13 |
177 |
Provision for pensions and similar obligations |
— |
58 |
0 |
— |
59 |
59 |
— |
— |
— |
Lease liabilities |
3 |
4 |
125 |
— |
129 |
131 |
— |
— |
— |
Other interest bearing debts |
— |
147 |
— |
— |
147 |
147 |
— |
— |
— |
Provisions for decommissioning and restoration obligations |
186 |
5 |
23 |
— |
27 |
214 |
138 |
— |
138 |
Other liabilities incl. provisions and deferred taxes |
7 |
13 |
— |
— |
13 |
20 |
— |
— |
— |
Non-current liabilities |
197 |
226 |
148 |
— |
374 |
571 |
138 |
— |
138 |
Trade payables |
21 |
24 |
52 |
— |
76 |
97 |
17 |
— |
17 |
Provisions for decommissioning and restoration obligations |
11 |
— |
— |
— |
— |
11 |
— |
— |
— |
Other liabilities incl. provisions |
15 |
19 |
22 |
— |
42 |
56 |
1 |
— |
1 |
Current liabilities |
47 |
43 |
75 |
— |
118 |
165 |
18 |
— |
18 |
Total liabilities |
243 |
269 |
223 |
— |
492 |
736 |
156 |
— |
156 |
Upstream
During 2020 OMV decided to divest its oil assets in Malaysia, which led to the reclassification of assets and liabilities to held for sale. The reclassification did not lead to any impairment loss.
In December 2020, OMV Petrom (51% subsidiary of OMV) signed a transaction for the sale of its assets in Kazakhstan to Magnetic Oil Limited, which led to the reclassification of assets and liabilities to held for sale. The divestment plan triggered a write-up.
Details on impairments and write-ups can be found in Note 7 – Depreciation, amortization, impairments and write-ups.
In Upstream no disposal group has been sold in 2020.
As of December 31, 2020, assets held for sale and liabilities associated with assets held for sale in Upstream consisted of oil offshore assets in Malaysia, onshore assets in Kazakhstan, a 69% interest in Maari field, located in New Zealand’s offshore Taranaki Basin and 40 marginal oil and gas fields in Romania.
Downstream
The planned sale of OMV´s 51% stake in Gas Connect Austria GmbH has led to the reclassification of the Gas Connect Group and associated goodwill to assets and liabilities held for sale without an impact on the Income Statement at that time. As per September 23, 2020, OMV signed the transaction contract with VERBUND. Closing is subject to regulatory approval and is expected in the first half of 2021.
On December 14, 2020, OMV and EG group reached an agreement for EG Group to acquire the OMV retail network (285 filling stations) in Germany. The transaction is subject to required regulatory approvals and closing is expected in 2021. The plan to divest the German filling station business has led to the reclassification of the assets and liabilities to held for sale. The reclassification did not lead to any impairment loss.
In Downstream no disposal group has been sold in 2020.
As of December 31, 2020, assets held for sale and liabilities associated with assets held for sale in Downstream consisted of the Gas Connect Group, the OMV retail network and other non-core assets.