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16 – Intangible assets

Intangible assets

In EUR mn

 

 

 

 

 

 

Concessions, software, licenses, rights

Develop­ment
costs

Oil and gas assets with unproved reserves

Goodwill

Total

 

 

 

 

 

 

 

2023

Development of costs

 

 

 

 

 

January 1

1,330

572

1,811

585

4,298

Currency translation differences

–3

–0

–28

–17

–48

Changes in the consolidated group

28

21

49

Additions

39

112

201

352

Transfers

20

14

–583

–549

Assets held for sale

–0

–243

–205

–448

Disposals

–28

–3

–195

–225

December 31

1,385

695

963

384

3,428

Development of amortization

 

 

 

 

 

January 1

769

86

934

1,788

Currency translation differences

–2

–21

–23

Amortization

93

34

0

127

Impairments

11

3

158

171

Transfers

–0

–14

–14

Assets held for sale

–0

–173

–173

Disposals

–29

–3

–195

–227

Write-ups

–1

–1

December 31

842

119

688

1,649

Carrying amount January 1

562

486

878

585

2,510

Carrying amount December 31

543

576

275

384

1,779

 

 

 

 

 

 

 

2022

Development of costs

 

 

 

 

 

January 1

2,199

464

1,876

562

5,101

Currency translation differences

–236

36

28

–172

Changes in the consolidated group

–662

–36

–699

Additions

31

110

172

313

Transfers

5

–141

–136

Assets held for sale

–0

27

27

Disposals

–6

–2

–122

–6

–136

December 31

1,330

572

1,811

585

4,298

Development of amortization

 

 

 

 

 

January 1

979

52

909

1,940

Currency translation differences

–85

–0

25

–60

Changes in the consolidated group

–234

–36

–270

Amortization

108

31

0

140

Impairments

6

3

179

189

Transfers

–0

–24

–24

Assets held for sale

–1

1

–0

Disposals

–5

–1

–121

–127

December 31

769

86

934

1,788

Carrying amount January 1

1,220

411

967

562

3,161

Carrying amount December 31

562

486

878

585

2,510

On October 31, 2023, the Borealis Group acquired 100% of the shares in Rialti S.p.A. This led to EUR 29  of changes in the consolidated group, including EUR 21 mn goodwill. The fair values of the acquired assets and liabilities are preliminary and may be adjusted later. An additional EUR 29 mn was included in the consolidation group, resulting from the change of consolidation method of Renasci N.V. after Borealis increased its stake from 27.42% to 50.01% as of January 11, 2023. In 2022, the changes in the consolidated group included EUR 428  from the deconsolidation of JSC GAZPROM YRGM Development.

Additions to intangible assets in 2023 included EUR 37 mn (2022: EUR 37 mn) of additions for internally generated assets, mainly related to capitalized development costs.

In 2023, transfers were mainly related to OMV Petrom following the final investment decision for the Neptun Deep project. Consequently, the related oil and gas assets in the amount of EUR 483 mn were reclassified from intangible assets to property, plant, and equipment.

The intangible assets of the SapuraOMV disposal group with a total carrying amount of EUR 275 mn were reclassified to assets held for sale. For details see Note 22 – Assets and liabilities held for sale. In 2022, intangible assets amounting to EUR 27 mn were transferred back from assets held for sale, mainly related to OMV’s share in the Maari field in New Zealand.

Further details on impairments and write-ups can be found in Note 8 – Depreciation, amortization, impairments and write-ups.

Goodwill arising from business combinations has been allocated to the following CGUs and groups of CGUs, for impairment testing:

Goodwill allocation

In EUR mn

 

 

 

2023

2022

Middle East and Africa

330

342

SapuraOMV

210

Goodwill allocated to Energy

330

552

Retail Slovakia

7

7

Refining Austria

26

26

Goodwill allocated to Fuels & Feedstock

33

33

Polypropylene1

21

Goodwill allocated to Chemicals & Materials

21

Goodwill

384

585

1

Related to the acquisition of Rialti S.p.A.

In 2023, the goodwill related to the SapuraOMV disposal group was reclassified to assets held for sale. For details refer to Note 22 – Assets and liabilities held for sale. The remaining goodwill allocated to Energy decreased due to unfavorable currency translation differences.

Goodwill impairment tests based on a value in use calculation were performed and did not lead to any impairments. For the impairment test of the goodwill allocated to the Middle East and Africa, an after-tax discount rate of 10.00% (2022: 10.47%) was used.

An after-tax discount rate of 16.42% (2022: 12.67%) related to the goodwill allocated to the Middle East and Africa would lead to zero headroom.

For details on contractual obligations for the acquisition of intangible assets, refer to Note 17 – Property, plant, and equipment.

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