24 – Non-controlling interests
In EUR mn |
|
|
|
|
|
|
---|---|---|---|---|---|---|
|
2023 |
2022 |
||||
Subgroups |
% NCI |
Net income allocated to NCI |
Accumulated NCI |
% NCI |
Net income allocated to NCI |
Accumulated NCI |
OMV Petrom Group |
49% |
398 |
3,848 |
49% |
1,023 |
3,980 |
Borealis Group |
25% |
–21 |
3,021 |
25% |
424 |
3,212 |
SapuraOMV Group |
50% |
–13 |
251 |
50% |
21 |
274 |
Other subsidiaries |
n.a. |
2 |
10 |
n.a. |
1 |
13 |
OMV Group |
n.a. |
366 |
7,131 |
n.a. |
1,470 |
7,478 |
The proportion of ownership corresponds to the proportion of voting rights of the non-controlling interests (NCI) in all cases.
The main activities of the OMV Petrom Group, the largest energy company in Southeastern Europe, are oil and gas exploration and production (in Romania, Bulgaria, and Georgia), refining of crudes (in Romania), marketing of petroleum products (in Romania, Bulgaria, Serbia, and Moldova) and marketing of natural gas as well as production and sales of electricity (in Romania and neighboring countries). On November 3, 2022, OMV Petrom SA completed the share capital increase, and as a result the non-controlling interests in the OMV Petrom Group increased by EUR 39 mn. The cash received from third-party shareholders amounted to EUR 30 mn in 2022 and was shown in the Consolidated Statement of Cash Flows in the line item “Increase in non-controlling interest”.
The Borealis Group is one of the world’s leading providers of advanced and circular polyolefin solutions, a European market leader in polyolefins recycling, and a major producer of base chemicals. The majority of Borealis’ production is located in Europe, with two overseas manufacturing facilities in the United States, one in Brazil and one in South Korea.
The SapuraOMV Group is an oil and gas company based in Malaysia with strong growth prospects consisting of sizeable discovered resources and a strong portfolio of exploration prospects. In addition to Malaysia, it has access to exploration blocks in New Zealand, Australia, and Mexico. The SapuraOMV Group has been reclassified to assets and liabilities associated with assets held for sale in 2023 (see Note 22 – Assets and liabilities held for sale).
The following tables summarize the financial information of the subgroups with material non-controlling interests:
In EUR mn |
|
|
|
|
||
---|---|---|---|---|---|---|
|
2023 |
2022 |
||||
|
OMV Petrom Group |
Borealis Group |
OMV Petrom Group |
Borealis Group |
||
Sales revenue |
7,845 |
7,770 |
12,440 |
11,686 |
||
Net income for the year |
815 |
33 |
2,089 |
1,690 |
||
Total comprehensive income |
811 |
–438 |
2,079 |
1,941 |
||
Attributable to NCI |
396 |
–138 |
1,019 |
488 |
||
Dividends paid to NCI |
498 |
88 |
436 |
175 |
||
|
In EUR mn |
|
|
|
|
||||
---|---|---|---|---|---|---|---|---|
|
2023 |
2022 |
||||||
|
OMV Petrom Group |
Borealis Group |
OMV Petrom Group2 |
Borealis Group |
||||
Non-current assets |
7,109 |
11,489 |
6,509 |
11,043 |
||||
Current assets |
4,579 |
4,779 |
5,308 |
5,177 |
||||
Assets held for sale |
— |
— |
3 |
1,334 |
||||
Non-current liabilities |
2,064 |
2,611 |
1,647 |
2,782 |
||||
Current liabilities |
1,710 |
1,595 |
1,989 |
1,472 |
||||
Liabilities associated with assets held for sale |
— |
— |
— |
471 |
||||
|
In EUR mn |
|
|
|
|
||
---|---|---|---|---|---|---|
|
2023 |
2022 |
||||
|
OMV Petrom Group |
Borealis Group |
OMV Petrom Group |
Borealis Group |
||
Operating cash flow |
2,045 |
945 |
2,299 |
1,572 |
||
Investing cash flow |
–1,158 |
–359 |
–629 |
–58 |
||
Financing cash flow |
–1,071 |
–480 |
–872 |
–824 |
||
Net increase (+)/decrease (–) in cash and cash equivalents |
–198 |
105 |
795 |
691 |
||
|