Notes to the Consolidated Income Statement

Sales to third parties 2023 (2022)

In EUR mn if not otherwise stated (prior year)

Total not consolidated sales 2023 (2022)

In EUR mn if not otherwise stated (prior year)

Sales revenues decreased by 37% to EUR 39,463 mn mainly due to substantially lower market prices. For the sales split by geographical areas, please refer to the Notes to the Consolidated Financial Statements (Note 5 – Segment Reporting).

Other operating income decreased from EUR 1,644 mn in 2022 to EUR 742 mn. 2023 was mainly impacted by EUR 221 mn gains from divestment of OMV’s filling station and wholesale business in Slovenia. 2022 contained EUR 409 mn gains from the divestment of the retail network in Germany, EUR 341 mn gains from the successful listing of Borouge PLC on ADX (the Abu Dhabi Securities Exchange) and insurance income of around EUR 200 mn with respect to the incident in the Schwechat refinery in June 2022. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 7 – Other operating income and net income from equity-accounted investments).

Net income from equity-accounted investments decreased from EUR 869 mn in 2022 to EUR 326 mn in 2023 mainly due to an impairment of exploration and appraisal assets included in OMV’s initial purchase price allocation of its share in Pearl Petroleum Company Limited and a lower contribution of Abu Dhabi Oil Refining driven by decreased refining margins.

Net expenses related to depreciation, amortization, impairments and write-ups remained almost unchanged compared to last year. 2023 was mainly impacted by write-ups of EUR 186 mn related to assets in Libya and gas storage in Germany. 2022 contained a write-up of EUR 266 mn of the nitrogen business unit of Borealis based on the new offer from AGROFERT, a.s. and a net impairment amounting to EUR 117 mn based on the impairment testing in the Exploration & Production portfolio triggered by updated commodity price assumptions. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 8 – Depreciation, amortization, impairments and write-ups).

Other operating expenses decreased from EUR 1,639 mn in 2022 to EUR 462 mn in 2023. 2022 was mainly impacted by the deconsolidation of investments in Russia and remeasurement of the asset from reserves redetermination rights with respect to the acquisition of interests in the Yuzhno-Russkoye field.

Net financial result improved from EUR –1,481 mn in 2022 to EUR –70 mn in 2023. The negative net financial result in 2022 predominantly stemmed from the impairment of the Nord Stream 2 loan in the amount of EUR 1,004 mn, as well as EUR 370 mn negative fair value adjustment of investments in Russia. The net financial result in 2023 improved additionally due to a higher net interest result, partly offset by a deteriorated foreign exchange result. For further details please refer to the Notes to the Consolidated Financial Statements (Note 20 – Financial assets).

Solidarity contribution on refined crude oil in Romania was introduced by the law no. 119/2023 for the approval of the Government Emergency Ordinance 186/2022 on May 12, 2023. The law introduced the obligation to pay a contribution of RON 350 for each ton of crude oil processed during 2022 and 2023. In 2023, a solidarity contribution in the amount of EUR 552 mn was recognized for the quantities of crude oil processed during 2022 and 2023. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 13 – Solidarity contribution on refined crude oil).

The effective tax rate increased from 52% in 2022 to 58% in 2023 and was mainly impacted by the solidarity contribution on refined crude oil in Romania (which decreases profit before tax but is a non-deductible expense for tax purposes). For further details on the Group’s effective tax rate, please refer to the Notes to the Consolidated Financial Statements (Note 14 – Taxes on income and profit).