In EUR mn |
|
|
|
|
2025 |
2024 |
Δ |
|---|---|---|---|
Assets |
|
|
|
Non-current assets |
24,486 |
32,679 |
–25% |
Current assets |
11,258 |
15,709 |
–28% |
Assets held for sale |
10,594 |
425 |
n.m. |
Equity and liabilities |
|
|
|
Equity |
22,567 |
24,617 |
–8% |
Non-current liabilities |
12,735 |
14,735 |
–14% |
Current liabilities |
7,525 |
9,404 |
–20% |
Liabilities associated with assets held for sale |
3,510 |
56 |
n.m. |
Total assets/equity and liabilities |
46,338 |
48,813 |
–5% |
Non-Current Assets
Intangible assets and property, plant and equipment in 2025 were mainly impacted by the reclassification of Borealis disposal group as “held for sale,” and by depreciation and net impairment charges. These effects were partially offset by significant CAPEX. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 16 – Intangible Assets and Note 17 – Property, Plant, and Equipment).
Equity-accounted investments decreased from EUR 6,661 mn in 2024 to EUR 5,255 mn in 2025, mainly impacted by dividend distributions, the reclassification of Bayport Polymers LLC (Baystar) to “held for sale” as part of Borealis disposal group (excluding Borouge investments), and the weaker USD, though these factors were partly offset by positive results, mostly from Borouge PLC and ADNOC Global Trading. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 18 – Equity-Accounted Investments).
Other financial assets decreased by EUR 1,137 mn mainly due to the reclassification of the Borealis disposal group to “held for sale” and an impairment of other financial assets related to abandonment obligations foreseen to be incurred by OMV Petrom at its own cost, following the agreed principles between OMV Petrom and the Romanian State for a 15-year extension of production licenses in Romania.
Current Assets
The decrease in current assets was mainly impacted by the reclassification to of the Borealis disposal group “held for sale,” the main items affected being inventories, cash and cash equivalents and trade receivables.
Inventories fell from EUR 3,936 mn to EUR 1,962 mn, further associated with the effects of lower volumes and prices in the gas business. Cash and cash equivalents decreased from EUR 6,182 mn to EUR 5,077 mn. For more details, please refer to Further Explanations to the Cash Flow Statement in the Directors’ Report chapter.
Assets Held for Sale and Liabilities Associated with Assets Held for Sale
The increase was mainly impacted by the reclassification of the Borealis disposal group in March 2025 to “held for sale,” although partly offset by the completion of the divestment in OMV’s 5% stake in the Ghasha concession. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 4 – OMV and ADNOC to Establish a New Polyolefins Joint Venture and Note 5 – Assets and Liabilities Held for Sale).
Non-Current Liabilities
The decrease in lease liabilities and other interest bearing debts, as well as in provisions for pensions and similar obligations was mainly due to the reclassification to of the Borealis disposal group “held for sale”. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 26 – Liabilities and Note 24 – Provisions for Pensions and Similar Obligations).
Non-current decommissioning and restoration obligations increased by EUR 191 mn mainly due to reassessment effects and additional obligations. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 25 – Decommissioning and Other Provisions).
Current Liabilities
The decrease in current liabilities was mainly impacted by the reclassification of Borealis disposal group to “held for sale,” with the main item affected being trade liabilities which decreased from EUR 3,723 mn to EUR 2,633 mn.
The increase in bonds was mainly related to short-term reclassifications of approx. EUR 1 bn, partly offset by the repayment of bonds with nominal values of EUR 500 mn and EUR 300 mn related to the Borealis disposal group reclassified to “held for sale” and subsequently repaid before year-end. For further details, please refer to the Notes to the Consolidated Financial Statements (Note 26 – Liabilities).
Other interest-bearing debts decreased by EUR 252 mn mainly due to the reclassification of the Borealis disposal group to “held for sale” and repayments being made before year-end. This was partly offset by short-term reclassifications.