Accounting Policy
Non-current assets and disposal groups are classified as held for sale if their carrying amounts are to be realized by sale rather than through continued use. This is the case when the sale is highly probable, and the asset or disposal group is available for immediate sale in its present condition. At OMV, these conditions are normally considered not to be fulfilled before binding offers from interested parties are received.
Non-current assets and disposal groups classified as held for sale are measured at the lower of the carrying amount and fair value less costs to sell. Property, plant and equipment and intangible assets once classified as held for sale are no longer amortized or depreciated and investments in associates and joint ventures are no longer accounted for at equity.
In EUR mn |
|
|
|
Chemicals |
OMV Group |
|---|---|---|
|
Borealis disposal group |
|
|
2025 |
|
Intangible assets |
891 |
891 |
Property, plant, and equipment |
6,018 |
6,018 |
437 |
437 |
|
Other assets incl. deferred taxes |
232 |
232 |
Non-current assets |
7,579 |
7,579 |
Inventories |
1,166 |
1,166 |
Trade receivables |
664 |
664 |
Other assets |
506 |
506 |
Cash and cash equivalents |
679 |
679 |
Current assets |
3,015 |
3,015 |
Total assets |
10,594 |
10,594 |
Provisions for pensions and similar obligations |
255 |
255 |
Lease liabilities |
613 |
613 |
Other interest-bearing debts |
503 |
503 |
Provisions for decommissioning and restoration obligations |
53 |
53 |
Other provisions |
26 |
26 |
Other liabilities incl. deferred taxes |
406 |
406 |
Non-current liabilities |
1,856 |
1,856 |
Trade payables |
932 |
932 |
Lease liabilities |
82 |
82 |
Other interest-bearing debts |
200 |
200 |
Other provisions |
79 |
79 |
Other liabilities |
362 |
362 |
Current liabilities |
1,655 |
1,655 |
Total liabilities |
3,510 |
3,510 |
In EUR mn |
|
|
|
Energy |
OMV Group |
|---|---|---|
|
2024 |
|
Intangible assets |
31 |
31 |
Property, plant, and equipment |
385 |
385 |
Non-current assets |
416 |
416 |
Inventories |
2 |
2 |
Other assets |
7 |
7 |
Current assets |
9 |
9 |
Total assets |
425 |
425 |
Provisions for decommissioning and restoration obligations |
2 |
2 |
Other liabilities |
18 |
18 |
Non-current liabilities |
19 |
19 |
Other liabilities incl. provisions |
37 |
37 |
Current liabilities |
37 |
37 |
Total liabilities |
56 |
56 |
Chemicals
On March 3, 2025, OMV and ADNOC signed a binding agreement for the combination of their shareholdings in Borealis and Borouge into Borouge Group International. Based on the signed agreement, OMV is expected to lose control over Borealis Group (excluding the Borouge investments), leading to deconsolidation after closing of the transaction. The closing of the transaction is expected to be completed in Q1 2026 subject to regulatory approvals and other customary conditions. Consequently, on March 3, 2025, Borealis Group (excluding the Borouge investments) was reclassified to “held for sale” according to IFRS 5. For more information, see Note 4 – OMV and ADNOC to Establish a New Polyolefins Joint Venture.
Energy
On May 29, 2025, OMV signed and closed an agreement to divest its 5% stake in the Ghasha concession, located in the United Arab Emirates, to Lukoil Gulf Upstream L.L.C. S.P.C. (Lukoil). The related assets and liabilities were reclassified to held for sale in 2024. The transaction did not have a material impact on the income statement in 2025.