Omv Financial Statements

8/10/2019 Omv Financial Statements

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S.C. OMV PETROM S.A.

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

DECEMBER 31, 2011

PREPARED IN ACCORDANCE WITH

INTERNATIONAL FINANCIAL REPORTING

STANDARDS AS ENDORSED BY THE EU,TOGETHER WITH

THE INDEPENDENT AUDITORS’ REPORT



S.C. OMV PETROM S.A. AND SUBSIDIARIESAUDITOR’S REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED DECEMBER 31, 2011PREPARED IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS

CONTENTS PAGE

INDEPENDENT AUDITORS’ REPORT 1 - 2

CONSOLIDATED STATEMENT OF FINANCIAL POSITION 3 - 4

CONSOLIDATED INCOME STATEMENT 5

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 6

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 7 - 8

CONSOLIDATED STATEMENT OF CASH FLOS !

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1" - 62







S.C. OMV PETROM S.A. AND SUBSIDIARIES

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS OF DECEMBER 31, 2011

(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

D/!' 31, D/!' 31,

ASSETS

N"%& 2011 2010

I#$%#&'()* %++*$+ 1,12"!8 1,36!4!P./0*.$, 0)%#$ %# *'0*#$ 4 26,33428 23,77715I#*+$*#$+ '# %++/'%$* /0%#'*+ 5 4"!1 4"65O$*. 9'#%#'%) %++*$+ 6 2,66!22 2,4!284O$*. %++*$+ 7 48!" 4523D*9*..* $%: %++*$+ 15 8"722 73411

N"$8/#''$% a&&%& 31,021.1 26,97.95

I#*#$/.'*+ 10 2,34!"4 2,5""12T.%* .**'%()*+ 7 1,82572 1,3!7!8

O$*. 9'#%#'%) %++*$+ 6 1121" 13872O$*. %++*$+ 7 34!7! 6"3"8C%+ %# %+ *'%)*#$+

1175384 1,5886"

A++*$+ *) 9/. +%)* 7644 772!

C#''$% a&&%& ,944.73 4,30.57

T"%a a&&%& 34,966.99 39,54.24

E:UITY AND LIABILITIES

C%0'$%) +$/; 12 18,!8337 18,!8337

R*+*.*+ 2,11!"3 <4!77!=

S%"/;-"+'&’ <#%= 21,102.90 16,96.6

N/#-/#$./))'#& '#$*.*+$+ <257!= <2654=

E<#%= 21,054.41 16,97.09

P./'+'/#+ 9/. 0*#+'/#+ %# +'')%. /()'&%$'/#+ 13 1!523 2!716I#$*.*+$-(*%.'#& *($+ 19 2,1733" 3,46551P./'+'/#+ 9/. */'++'/#'#& %#

13.*+$/.%$'/# /()'&%$'/#+ 5,8!765 5,!1785

O$*. 0./'+'/#+ 13 86""! 84232O$*. 9'#%#'%) )'%(')'$'*+ 1 14854 17838D*9*..* $%: )'%(')'$'*+ 15 1227 267"

N"$8/#''$% a%& 7,265.06 10,525.72

T* #/$*+ /# 0%&*+ 1" $/ 62 9/. 0%.$ /9 $*+* /#+/)'%$* 9'#%#'%) +$%$**#$+3






CONSOLIDATED INCOME STATEMENT

FOR THE YEAR ENDED DECEMBER 31, 2011

(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

D/!' 31, D/!' 31,N"%& 2011 2010

S%)*+ .**#*+ 22,61365 18,6156!

D'.*$ +*))'#& *:0*#+*+ <56414= <43661=P./$'/# /+$+ /9 +%)*+ <14,32"74= <12,7!"!8=

G'"&& *'"% 5,526.55 ,366.10

O$*. /0*.%$'#& '#/* 16 43251 51385S*))'#& *:0*#+*+ <1,16"71= <1,21863= A'#'+$.%$'* *:0*#+*+ <23736= <23117=E:0)/.%$'/# *:0*#+*+

17<42"25= <1865!=

O$*. /0*.%$'#& *:0*#+*+ <1,4"72"= <1,28""5=

Ea'$$>& "' $%'&% a$+ %a)& (EBIT 20 9,73.54 2,76.1

I#/* 9./ %++/'%$* /0%#'*+ 21 312 672N*$ '#$*.*+$ *:0*#+* 22 <33288= <537""=O$*. 9'#%#'%) '#/* %# *:0*#+*+ 23 25! 15""!

N% $a$/a '&#% (325.15 (360.17

P'"% '"! "'+$a'= a/%?%& 9,406.7 2,40.32

T%:*+ /# '#/* 29 <84!!7= <41567=

N% $/"! "' %- =a' 3,56.42 2,167.4

%-'" a%%'#%a %" &%"/;-"+'& " %- *a'$% 3,54.5 2,201.22

$*.*/9 %$$.'($%()* $/ #/#-/#$./))'#& '#$*.*+$+ 187 <1157=

Ba&/ a'$$>& *' &-a' $ RON 2 0.0443 0.0367

T* #/$*+ /# 0%&*+ 1" $/ 62 9/. 0%.$ /9 $*+* /#+/)'%$* 9'#%#'%) +$%$**#$+5






CONSOLIDATED STATEMENT OF CHANGES IN E:UITY


(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

Ca&- F"'>$" /#''$/= N"$8

S-a' R?$# -+>$> %'a$&a%"$ O%-' T'a&#'= S%"/;-"+'&@ /"$%'"$> T"%a

/a*%a '&'?& '&'? '&'? '&'?& &-a'& <#%= $%'&%& <#%=

Baa$/ a%

a$#a'= 1, 2011 16,763.35 (.92 8 42.24 (9.41 (0.02 16,96.6 (24.9 16,97.09

T/$%) /0.**#+'*

'#/* 9/. $* *%. - 3,75675 <1275!= <!74= - - 3,61!42 "83 3,62"25

D''*#+ '+$.'($'/# - <1,""26"= - - - - <1,""26"= <""8= <1,""268=

P.%+* /9 />#+%.*+ - - - - - - - - -

D'+$.'($'/# /9 />#+%.*+ - - - - - - - - -

C%#&* '# #/#-/#$./))'#& '#$*.*+$+ - - - - - - - - -

Baa$/ a%

D/!' 31, 2011 16,763.35 2,176.53 (125.7 2.2 (9.41 (0.02 21,102.90 (2.57 21,054.41

N/$*? F/. *$%')+ /# .*+*.*+, +** N/$* 12

T* #/$*+ /# 0%&*+ 1" $/ 62 9/. 0%.$ /9 $*+* /#+/)'%$* 9'#%#'%)+$%$**#$+ 7




CONSOLIDATED STATEMENT OF CHANGES IN E:UITY


(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

Ca&- F"'>$" /#''$/= N"$8

S-a' R?$# -+>$> %'a$&a%"$ O%-' T'a&#'= S%"/;-"+'&@ /"$%'"$> T"%a

/a*%a '&'?& '&'? '&'? '&'?& &-a'& <#%= $%'&%& <#%=

Baa$/ a%

a$#a'= 1, 2010 16,763.35 (2,54.49 (160.40 135.3 (9.13 8 14,157.3 11.30 14,170.63

T/$%) /0.**#+'*

'#/* 9/. $* *%. - 2,2"122 18"6" <3214= - - 2,34!68 <1855= 2,33113

D''*#+ '+$.'($'/# - - - - - - - <""5= <""5=

P.%+* /9 />#+%.*+ - - - - - <178= <178= - <178=

D'+$.'($'/# /9 />#+%.*+ - - - - - 176 176 - 176

C%#&* '# #/#-/#$./))'#& '#$*.*+$+ - - - <4313= <"48= - <4361= <1!24= <6285=

Baa$/ a%

D/!' 31, 2010 16,763.35 (.92 8 42.24 (9.41 (0.02 16,96.6 (24.9 16,97.09

N/$*? F/. *$%')+ /# .*+*.*+, +** N/$* 12

T* #/$*+ /# 0%&*+ 1" $/ 62 9/. 0%.$ /9 $*+* /#+/)'%$* 9'#%#'%)+$%$**#$+ 8




CONSOLIDATED STATEMENT OF CASH FLOWS


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D/!' 31, D/!' 31,

N"%& 2011 2010

Ca&- " '"! "*'a%$> a/%?%&P'"% "' %a)a%"$ 9,406.7 2,40.32

A+#&%!$%& "'22, 23I#$*.*+$ *:0*#+*+ %# /$*. 9'#%#'#& /+$+ 126"3 21!4"

I#$*.*+$ '#/* 22 <4332= <5828=N*$ /**#$ '# 0./'+'/#+ 9/.?- F'#%#'%) %++*$+ !1" <"62=- I#*#$/.'*+ 6338 1!"6- R**'%()*+ <28!2= <11!78=- P*#+'/#+ %# +'')%. )'%(')'$'*+ <1"1!3= 14"!- D*/'++'/#'#& %# .*+$/.%$'/# /()'&%$'/#+ <627= 5"36- O$*. 0./'+'/#+ 9/. .'+; %# %.&*+ 26471 <28848=.'$*-/99 /9 .**'%()*+ %# /$*. +'')%. '$*+

21

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, 4, 20

- <"77=D*0.*'%$'/#, %/.$'%$'/# %# '0%'.*#$ *:0*#+* 2,83"21 2,81162O$*. #/# %+ '$*+ <1"5"8= <1!623=Ca&- >$'a%+ '"! "*'a%$> a/%?%& "' "';$>/a*%a !"?!$%& 5,636.0 ,043.56<I#.*%+*=@D*.*%+* '# '#*#$/.'*+ 3361 4"1<I#.*%+*=@D*.*%+* '# .**'%()*+ %# /$*. %++*$+ <43242= <523"1=I#.*%+*@<D*.*%+*= '# )'%(')'$'*+ <5345= 55!36I#$*.*+$ .**'* 4328 5636I#$*.*+$ 0%' <142!8= <165"8=T%: /# 0./9'$ 0%' <84447= <3656"=N% /a&- >$'a%+ '"! "*'a%$> a/%?%& 4,991.42 9,427.62

Ca&- " '"! $?&%!$% a/%?%&P.%+* /9 $%#&'()* %# '#$%#&'()* %++*$+ <5,26487= <4,322"7=P./**+ 9./ +%)* /9 9':* %++*$+ 11317 13453P./**+ 9./ +%)* /9 9'#%#'%) %++*$+ - "77 A'+'$'/# /9 /># +%.*+

30- <178=

A'+'$'/# /9 +(+''%.'*+ #*$ /9 %+ %'.* - <6841=P./**+ 9./ +%)* /9 P*$./ G./0 /0%#'*+ )*++

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E99*$ /9 9/.*'&# *:%#&* .%$* %#&*+ /# %+ %#%+ *'%)*#$+ 862 652

T"%a /a&- "& (639.54 1,209.40

Ca&- a$+ /a&- <#?a$%& a% %->$$$> " %- =a' 1,66.40 369.00

Ca&- a$+ /a&- <#?a$%& a% %- $+ " %- =a' 53.69 1,66.40

T* #/$*+ /# 0%&*+ 1" $/ 62 9/. 0%.$ /9 $*+* /#+/)'%$* 9'#%#'%)+$%$**#$+ !




NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS


(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

1. LEGAL PRINCIPLES AND ACCOUNTING POLICIES

OMV P*$./ SA <22 C/.%)')/. S$.**$, "1332! B%.*+$, R/%#'%=, %+ %$''$'*+ '# E:0)/.%$'/# %#P./$'/# <EP=, G%+ %# P/>*. <GP=, R*9'#'#& %# M%.;*$'#& <RM= +*&*#$+ %# '+ )'+$* /#

B%.*+$ S$/; E:%#&* #*. SNP /*S%.*/)*.+’ +$.$.* %+ %$ D**(*. 31, 2"11 >%+ %+ 9/))/>+?

OMV A;$'*#&*+*))+%9$P'/$%51"1

M'#'+$. /9 E/#/ 2"64P./0*.$ F# SA 2"11E./0*%# B%#; 9/. R*/#+$.$'/# %# D**)/0*#$ 2"3L*&%) *#$'$'*+ %# 0+'%) 0*.+/#+ 621

T"%a 100.00

T*.* >*.* #/ %#&*+ '# $* +%.*/)*.+’ +$.$.* '# 2"11 /0%.* $/ 0.'/. *%.

Statement of compliance

T*+* /#+/)'%$* 9'#%#'%) +$%$**#$+ %* (**# .%># 0 '# /0)'%#* >'$ I#$*.#%$'/#%) F'#%#'%)R*0/.$'#& S$%#%.+ %+ *#/.+* ( $* EU <IFRS+=

R/%#'%# )'+$* C/0%#'*+ + %+ OMV P*$./ SA %.* .*'.* ( M'#'+$. /9 F'#%#* O.*. 1121@2""6 $/ +('$ $* /#+/)'%$* 9'#%#'%) +$%$**#$+ 0.*0%.* '# %/.%#* >'$ IFRS %+ *#/.+*( EU +$%.$'#& 2""7

Basis of preparation

C/#+/)'%$* 9'#%#'%) +$%$**#$+ /9 P*$./ G./0 %.* 0.*+*#$* '# RON <R/%#'%# L*'=, +'#& &/'#&

/#*.# 0.'#'0)*+ A)) %)*+ %.* 0.*+*#$* '# '))'/#+, ./#* $/ $* #*%.*+$ 2 *'%)+ T*/#+/)'%$* 9'#%#'%) +$%$**#$+ %* (**# 0.*0%.* /# $* '+$/.'%) /+$ (%+'+, *:*0$ 9/. $*.*%)%$'/# /9 *.$%'# #/#-..*#$ %++*$+ %# 9'#%#'%) '#+$.*#$+

Standards and Interpretations effective in the current period

T* 9/))/>'#& #*> '#$*.0.*$%$'/#+ %# %*#*#$+ $/ $* *:'+$'#& +$%#%.+ %# '#$*.0.*$%$'/#+ '++* ($* I#$*.#%$'/#%) A/#$'#& S$%#%.+ B/%. %# %/0$* ( EU (*%* *99*$'* '# $* ..*#$ 0*.'/?

1● IFRIC 14 P.*0%*#$+ /9 % M'#' F#'#& R*'.**#$ <A*#*=2● IFRIC 1! E:$'#&'+'#& F'#%#'%) L'%(')'$'*+ >'$ E'$ I#+$.*#$+

3● IAS 24 R*)%$* P%.$ D'+)/+.*+ <A*#*=4● IAS 32 F'#%#'%) I#+$.*#$+? P.*+*#$%$'/# - C)%++'9'%$'/# /9 R'&$+ I++*+ <A*#*=5● I0./**#$+ $/ IFRS+ <M% 2"1"= O$*. %*#*#$+ .*+)$'#& 9./ I0./**#$+ $/ IFRS+ $/$* 9/))/>'#& +$%#%.+ %# '#$*.0.*$%$'/#+ ' #/$ %* %# '0%$ /# $* %/#$'#& 0/)''*+, 9'#%#'%)0/+'$'/# /. 0*.9/.%#* /9 $* G./0?

1- IFRS 1 F'.+$-$'* %/0$'/#

2- IFRS 3 B+'#*++ C/('#%$'/#+3- IFRS 7 F'#%#'%) I#+$.*#$+ D'+)/+.*+4- IAS 1 P.*+*#$%$'/# /9 F'#%#'%) S$%$**#$+5- IAS 27 C/#+/)'%$* %# S*0%.%$* F'#%#'%) S$%$**#$+6- IAS 34 I#$*.' F'#%#'%) R*0/.$'#&

7- IFRIC 13 C+$/*. L/%)$ P./&.%*+

T* %/0$'/# /9 $*+* #*> '#$*.0.*$%$'/#+ %# %*#*#$+ $/ *:'+$'#& +$%#%.+ %# '#$*.0.*$%$'/#+ %+#/$ )* $/ %# +'&#'9'%#$ %#&*+

1"






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

1. LEGAL PRINCIPLES AND ACCOUNTING POLICIES (/"$%$#+

Standards and Interpretations issued by IASB but not yet effective and not yet early adopted by EU

A$ $* %$* /9 %$/.'%$'/# /9 $*+* 9'#%#'%) +$%$**#$+ $* 9/))/>'#& +$%#%.+, .*'+'/#+ %#'#$*.0.*$%$'/#+ >*.* '++* ( IASB, ($ %.* #/$ *$ *99*$'* %# >*.* #/$ *%.) %/0$* ( $* G./0?

IAS 1 F$a$/a S%a%!$% P'&$%a%"$ (A!$++ P'&$%a%"$ " I%!& " O%-'

C"!*'-$&? I$/"!

T* %*#*#$ '+ *99*$'* 9/. %##%) 0*.'/+ (*&'##'#& /# /. %9$*. 1 ) 2"12 T* %*#*#$+ $/IAS 1 %#&* $* &./0'#& /9 '$*+ 0.*+*#$* '# OCI I$*+ $%$ /) (* .*)%++'9'* </. .*)*’=$/ 0./9'$ /. )/++ %$ % 9$.* 0/'#$ '# $'* <9/. *:%0)*, 0/# *.*/&#'$'/# /. +*$$)**#$= >/) (*0.*+*#$* +*0%.%$*) 9./ '$*+ $%$ >')) #**. (* .*)%++'9'* T* %*#*#$ %99*$+ 0.*+*#$%$'/#/#) %# %+ #/ '0%$ /# $* G./0’+ 9'#%#'%) 0/+'$'/# /. 0*.9/.%#* T'+ %*#*#$ %+ #/$ *$(**# *#/.+* ( $* EU

IAS 12 I$/"! Ta)& (A!$++ R/"?'= " U$+'=$> A&&%&

T* %*#*#$ '+ *99*$'* 9/. %##%) 0*.'/+ (*&'##'#& /# /. %9$*. 1 %#%. 2"12 T*%*#*#$ )%.'9'* $* *$*.'#%$'/# /9 *9*..* $%: /# '#*+$*#$ 0./0*.$ *%+.* %$ 9%'. %)*T* %*#*#$ '#$./*+ % .*($$%()* 0.*+0$'/# $%$ *9*..* $%: /# '#*+$*#$ 0./0*.$*%+.* +'#& $* 9%'. %)* /*) '# IAS 4" +/) (* *$*.'#* /# $* (%+'+ $%$ '$+ %..'#&%/#$ >')) (* .*/*.* $./& +%)* F.$*./.*, '$ '#$./*+ $* .*'.**#$ $%$ *9*..* $%:/# #/#-*0.*'%()* %++*$+ $%$ %.* *%+.* +'#& $* .*%)%$'/# /*) '# IAS 16 %)>%+ (**%+.* /# % +%)* (%+'+ /9 $* %++*$ T'+ %*#*#$ %+ #/$ *$ (**# *#/.+* ( $* EU

IAS 17 E!*"= B$%& (A!$++

T* %*#*#$ '+ *99*$'* 9/. %##%) 0*.'/+ (*&'##'#& /# /. %9$*. 1 %#%. 2"13 T* IASB %+'++* #*./+ %*#*#$+ $/ IAS 1! T*+* .%#&* 9./ 9#%*#$%) %#&*+ + %+ .*/'#&$* /..'/. *%#'+ %# $* /#*0$ /9 *:0*$* .*$.#+ /# 0)%# %++*$+ $/ +'0)* )%.'9'%$'/#+

%# .*->/.'#& E%.) %00)'%$'/# '+ 0*.'$$* T'+ %*#*#$ %+ #/$ *$ (**# *#/.+* ( $*EU

IAS 25 S*a'a% F$a$/a S%a%!$%& (R?&+

T* S$%#%. '+ *99*$'* 9/. %##%) 0*.'/+ (*&'##'#& /# /. %9$*. 1 %#%. 2"13 A+ % /#+**#*/9 $* #*> IFRS 1" %# IFRS 12, >%$ .*%'#+ /9 IAS 27 '+ )''$* $/ %/#$'#& 9/. +(+''%.'*+, J/'#$) /#$./))* *#$'$'*+, %# %++/'%$*+ '# +*0%.%$* 9'#%#'%) +$%$**#$+ E%.)'*. %00)'%$'/# '+0*.'$$*

IAS 26 I$?&%!$%& $ A&&"/a%& a$+ "$% V$%#'& (R?&+

T* S$%#%. '+ *99*$'* 9/. %##%) 0*.'/+ (*&'##'#& /# /. %9$*. 1 %#%. 2"13 A+ % /#+**#*/9 $* #*> IFRS 11 %# IFRS 12, IAS 28 %+ (**# .*#%* IAS 28 I#*+$*#$+ '# A++/'%$*+ %#

/'#$ V*#$.*+, %# *+.'(*+ $* %00)'%$'/# /9 $* *'$ *$/ $/ '#*+$*#$+ '# J/'#$ *#$.*+ '#%'$'/# $/ %++/'%$*+ E%.)'*. %00)'%$'/# '+ 0*.'$$*

IAS 32 F$a$/a I$&%'#!$%& P'&$%a%"$ (A!$++ 8 O&%%$> F$a$/a A&&%& a$+F$a$/a La%&

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

11






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+


IFRS 5 F$a$/a I$&%'#!$%& D&/"&#'& (A!$++ 8 E$-a$/+ D'/">$%"$ D&/"&#'R<#'!$%&

T* %*#*#$ '+ *99*$'* 9/. %##%) 0*.'/+ (*&'##'#& /# /. %9$*. 1 ) 2"11 T* %*#*#$.*'.*+ %'$'/#%) '+)/+.* %(/$ 9'#%#'%) %++*$+ $%$ %* (**# $.%#+9*..* ($ #/$ *.*/&#'+*$/ *#%()* $* +*. /9 $* 9'#%#'%) +$%$**#$+ $/ #*.+$%# $* .*)%$'/#+'0 >'$ $/+* %++*$+ $%$%* #/$ (**# *.*/&#'+* %# $*'. %++/'%$* )'%(')'$'*+ I# %'$'/#, $* %*#*#$ .*'.*+'+)/+.*+ %(/$ /#$'#'#& '#/)**#$ '# *.*/&#'+* %++*$+ $/ *#%()* $* +*. $/ *%)%$* $*#%$.* /9, %# .'+;+ %++/'%$* >'$, $* *#$'$’+ /#$'#'#& '#/)**#$ '# $/+* *.*/&#'+* %++*$+T* %*#*#$ %+ /#) '+)/+.* *99*$+

IFRS 5 F$a$/a I$&%'#!$%& D&/"&#'& (A!$++ 8 O&%%$> F$a$/a A&&%& a$+F$a$/a La%&

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IFRS 7 F$a$/a I$&%'#!$%& 8 Ca&&/a%"$ a$+ Ma&#'!$%

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IFRS 11 "$% A''a$>!$%&

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IFRS 12 D&/"&#'& " I$?"?!$% %- O%-' E$%%&

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12






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+


IFRS 13 Fa' Va# Ma&#'!$%

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Significant accounting judgments, estimates and assumptions

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13








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2. CONSOLIDATION

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15








(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

3. ACCOUNTING AND VALUATION PRINCIPLES

a E)*"'a%"$ a$+ a**'a&a /"&%&

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17






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

3. ACCOUNTING AND VALUATION PRINCIPLES (/"$%$#+

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E'++'/# %))/>%#*+ .**'* 9.** /9 /+$ 9./ &/*.#*#$%) %$/.'$'*+ <EU E'++'/#+ T.%'#& S**9/. &.**#/+* &%+ *'++'/#+ %))/>%#*+= .** /()'&%$'/#+ 9/. CO2 *'++'/#+, %# 0./'+'/#+ %.*.*/&#'* /#) 9/. +/.$9%))+ T* 0./'+'/# 9/. % +/.$9%)) '+ '#'$'%)) *%+.* %$ $* (*+$ *+$'%$'/# /9 *:0*#'$.* .*'.* $/ +*$$)* $* /()'&%$'/#, >' '+ $* %.;*$ 0.'* /9 $* *'++'/# .'&$+ %$ $* )/+'#&%$* T* .*)%$* *:0*#+* '+ .*/&#'+* %+ *'++'/# /+$+, >' %.* 0%.$ /9 /+$ /9 +%)*+ I9 +(+**#$) $/ $* .*/&#'$'/# /9 % 0./'+'/# *'++'/# .'&$+ %.* 0.%+* %# %++*$ '+ /#) .*/&#'+*9/. $* *:*++ /9 $* *'++'/# .'&$+ /*. $* CO2 *'++'/#+ A# 0.'* '99*.*#* (*$>**# $* 0./'+'/#

%# $* %#$'$ /9 /99+*$$'#& *'++'/# .'&$+ '+ *:0*#+* %+ *'++'/# /+$B%+* /# $* 0.'%$'%$'/# %&.***#$ /9 OMV P*$./ SA, 0%.$ /9 OMV P*$./ */'++'/#'#& %#*#'./#*#$%) /+$ >')) (* .*'(.+* ( $* R/%#'%# S$%$* T* 0/.$'/# $/ (* .*'(.+* ( $*R/%#'%# S$%$* %+ (**# 0.*+*#$* %+ .**'%()* %# .*%++*++* '# /.*. $/ .*9)*$ $* ..*#$ (*+$*+$'%$* /9 $* /+$ %$ '$+ 0.*+*#$ %)*, +'#& $* +%* '+/#$ .%$* %+ 9/. $* .*)%$* 0./'+'/#+

T* #>'#'#& /9 $* '+/#$ /# $* .**'%()*+ 9./ $* R/%#'%# S$%$* .*)%$* $/ */'++'/#'#&%# *#'./#*#$%) 0./'+'/#+ <'#)'#& %# %#&*+ '# $* *+$'%$* $''#& /9 .*/*.= '+ '#)* %+ %9'#%#* /+$

P./'+'/#+ 9/. 0*#+'/#+ %# +**.%#* 0%*#$+ %.* %))%$* +'#& $* 0./J*$*-#'$-.*'$ *$/,>' ''*+ $* /+$+ /9 $* *+$'%$* (*#*9'$ *#$'$)**#$+ /*. $* >/)* 0*.'/ /9 *0)/*#$ %#

$+ $%;*+ 9$.* '#.*%+*+ '# .*#*.%$'/# '#$/ %/#$ A$%.'%) &%'#+@)/++*+ %.* .*/&#'* 9))$./& $* '#/* +$%$**#$

P./'+'/#+ 9/. /)#$%. %# '#/)#$%. +*0%.%$'/#+ #*. .*+$.$.'#& 0./&.%+ %.* .*/&#'* '9 %*$%')* 0)%# %+ (**# %00./* ( %#%&**#$ 0.'/. $/ (%)%#* +**$ %$*, %# %# '..*/%()*/'$*#$ '+ $*.*( *+$%()'+* V/)#$%. %*#*#$+ $/ *0)/**+’ .*#*.%$'/# %..%#&**#$+%.* .*/&#'* '9 $* .*+0*$'* *0)/**+ %* %*0$* $* /0%#’+ /99*. P./'+'/#+ 9/. /()'&%$'/#+#*. '#''%) +*0%.%$'/# %&.***#$+ %.* .*/&#'* %$ $* 0.*+*#$ %)* /9 $* /()'&%$'/# >*.* $*%/#$+ %# %$*+ /9 0%*#$ %.* 9':* %# ;#/>#

; Ta)& "$ $/"! $/#+$> +''+ %a)&

Current tax

T* $%: ..*#$) 0%%()* '+ (%+* /# $%:%()* 0./9'$ 9/. $* *%. T%:%()* 0./9'$ '99*.+ 9./ 0./9'$ %+.*0/.$* '# $* /#+/)'%$* '#/* +$%$**#$ (*%+* '$ *:)*+ '$*+ /9 '#/* /. *:0*#+* $%$ %.*$%:%()* /. *$'()* '# /$*. *%.+ %# '$ 9.$*. *:)*+ '$*+ $%$ %.* #**. $%:%()* /. *$'()* T*G./0’+ )'%(')'$ 9/. ..*#$ $%: '+ %))%$* +'#& $%: .%$*+ $%$ %* (**# *#%$* /. +(+$%#$'*)*#%$* ( $* (%)%#* +**$ %$*, '# $* /#$.'*+ >*.* $* G./0 /0*.%$*+ %# &*#*.%$*+ $%:%()*'#/*

C..*#$ '#/* $%: %++*$+ %# )'%(')'$'*+ 9/. $* ..*#$ %# 0.'/. 0*.'/+ %.* *%+.* %$ $* %/#$*:0*$* $/ (* .*/*.* 9./ /. 0%' $/ $* $%:%$'/# %$/.'$'*+ M%#%&**#$ 0*.'/'%)) *%)%$*+0/+'$'/#+ $%;*# '# $* $%: .*$.#+ >'$ .*+0*$ $/ +'$%$'/#+ '# >' %00)'%()* $%: .*&)%$'/#+ %.* +(J*$$/ '#$*.0.*$%$'/# %# *+$%()'+*+ 0./'+'/#+ >*.* %00./0.'%$*

22






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+


Deferred tax

D*9*..* $%: '+ 0./'* +'#& $* )'%(')'$ *$/ /# $*0/.%. '99*.*#*+ %$ $* .*0/.$'#& %$* (*$>**#$* $%: (%+*+ /9 %++*$+ %# )'%(')'$'*+ %# $*'. %..'#& %/#$+ 9/. 9'#%#'%) .*0/.$'#& 0.0/+*+

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

D*9*..* $%: %++*$+ %.* .*/&#'+* 9/. %)) *$'()* $*0/.%. '99*.*#*+, %.. 9/.>%. /9 #+* $%:.*'$+ %# #+* $%: )/++*+, $/ $* *:$*#$ $%$ '$ '+ 0./(%()* $%$ 9$.* $%:%()* 0./9'$ >')) (* %%')%()*%&%'#+$ >' $* *$'()* $*0/.%. '99*.*#*+ %# $* %.. 9/.>%. /9 #+* $%: .*'$+ %##+* $%: )/++*+ %# (* $')'+* *:*0$?1- *.* $* *9*..* '#/* $%: %++*$ .*)%$'#& $/ $* *$'()* $*0/.%. '99*.*#* %.'+*+ 9./$* '#'$'%) .*/&#'$'/# /9 %# %++*$ /. )'%(')'$ '# % $.%#+%$'/# $%$ '+ #/$ % (+'#*++ /('#%$'/# %#, %$ $*$'* /9 $* $.%#+%$'/#, %99*$+ #*'$*. $* %/#$'#& 0./9'$ #/. $%:%()* 0./9'$ /. )/++, %#2- I# .*+0*$ /9 *$'()* $*0/.%. '99*.*#*+ %++/'%$* >'$ '#*+$*#$+ '# +(+''%.'*+,%++/'%$*+ %# '#$*.*+$+ '# J/'#$ *#$.*+, *9*..* '#/* $%: %++*$+ %.* .*/&#'+* /#) $/ $* *:$*#$$%$ '$ '+ 0./(%()* $%$ $* $*0/.%. '99*.*#*+ >')) .**.+* '# $* 9/.*+**%()* 9$.* %# $%:%()* 0./9'$>')) (* %%')%()* %&%'#+$ >' $* $*0/.%. '99*.*#*+ %# (* $')'*

T* %..'#& %/#$ /9 *9*..* $%: %++*$+ '+ .*'*>* %$ *% .*0/.$'#& %$* %# .** $/ $* *:$*#$

$%$ '$ '+ #/ )/#&*. 0./(%()* $%$ +99''*#$ 9$.* $%:%()* 0./9'$ >')) (* %%')%()* $/ %))/> %)) /. 0%.$ /9 $**9*..* $%: %++*$ $/ (* $')'+* U#.*/&#'+* *9*..* $%: %++*$+ %.* .*%++*++* %$ *% .*0/.$'#& %$*%# %.* .*/&#'+* $/ $* *:$*#$ $%$ '$ %+ (*/* 0./(%()* $%$ 9$.* $%:%()* 0./9'$ >')) %))/> $**9*..* $%: %++*$ $/ (* .*/*.*

D*9*..* $%: %++*$+ %# )'%(')'$'*+ %.* *%+.* %$ $* $%: .%$*+ $%$ %.* *:0*$* $/ %00) $/ $* *%. >*# $* %++*$ '+ .*%)'+* /. $* )'%(')'$ '+ +*$$)*, (%+* /# $%: .%$*+ <%# $%: )%>+= $%$ %* (**#*#%$* /. +(+$%#$'*) *#%$* %$ $* .*0/.$'#& %$*

D*9*..* $%: .*)%$'#& $/ '$*+ .*/&#'+* '.*$) '# *'$ '+ .*/&#'+* '# *'$ %# #/$ '# $* '#/*+$%$**#$

D*9*..* $%: %++*$+ %# *9*..* $%: )'%(')'$'*+ %.* /99+*$, '9 % )*&%)) *#9/.*%()* .'&$ *:'+$+ $/ +*$ /99

..*#$ $%: %++*$+ %&%'#+$ ..*#$ $%: )'%(')'$'*+ %# $* *9*..* $%:*+ .*)%$* $/ $* +%* $%:%()* *#$'$%# $* +%* $%:%$'/# %$/.'$

Production taxes

R/%)$'*+ %.* (%+* /# $* %)* /9 /') %# &%+ 0./$'/# %# %.* '#)* '# $* '#/* +$%$**#$#*. 0./$'/# /+$ /9 +%)*+

R?$# '/">$%"$

R**#* '+ *%+.* %$ $* 9%'. %)* /9 $* /#+'*.%$'/# .**'* /. .**'%()* R**#* '+ .** 9/. *+$'%$* +$/*. .*$.#+, .*(%$*+ %# /$*. '#*#$'*+

23






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+


Sale of goods

R**#* 9./ $* +%)* /9 &//+ '+ .*/&#'* >*# %)) $* 9/))/>'#& /#'$'/#+ %.* +%$'+9'*?1• $* G./0 %+ $.%#+9*..* $/ $* (*. $* +'&#'9'%#$ .'+;+ %# .*>%.+ /9 />#*.+'0 /9 $*&//+

2• $* G./0 .*$%'#+ #*'$*. /#$'#'#& %#%&*.'%) '#/)**#$ $/ $* *&.** +%)) %++/'%$*>'$ />#*.+'0 #/. *99*$'* /#$./) /*. $* &//+ +/)3• $* %/#$ /9 .**#* %# (* *%+.* .*)'%()4• '$ '+ 0./(%()* $%$ $* */#/' (*#*9'$+ %++/'%$* >'$ $* $.%#+%$'/# >')) 9)/> $/ $* *#$'$

%#5• $* /+$+ '#..* /. $/ (* '#..* '# .*+0*$ /9 $* $.%#+%$'/# %# (* *%+.* .*)'%()

Rendering of services

R**#* 9./ % /#$.%$ $/ 0./'* +*.'*+ '+ .*/&#'* ( .*9*.*#* $/ $* +$%&* /9 /0)*$'/# /9 $*/#$.%$ T* +$%&* /9 /0)*$'/# /9 $* /#$.%$ '+ *$*.'#* %+ 9/))/>+?1• '#+$%))%$'/# 9**+ %.* .*/&#'* ( .*9*.*#* $/ $* +$%&* /9 /0)*$'/# /9 $* '#+$%))%$'/#,*$*.'#* %+ $* 0./0/.$'/# /9 $* $/$%) $'* *:0*$* $/ '#+$%)) $%$ %+ *)%0+* %$ $* (%)%#* +**$%$*2• +*.''#& 9**+ '#)* '# $* 0.'* /9 0./$+ +/) %.* .*/&#'* ( .*9*.*#* $/ $*0./0/.$'/# /9 $* $/$%) /+$ /9 0./''#& $* +*.''#& 9/. $* 0./$ +/), $%;'#& '#$/ %/#$ '+$/.'%)$.*#+ '# $* #(*. /9 +*.'*+ %$%)) 0./'* /# 0%+$ &//+ +/) %#3• .**#* 9./ $'* %# %$*.'%) /#$.%$+ '+ .*/&#'* %$ $* /#$.%$%) .%$*+ %+ )%(/. /.+%.* *)'*.* %# '.*$ *:0*#+*+ %.* '#..*

Dividend and interest revenue

D''*# .**#* 9./ '#*+$*#$+ '+ .*/&#'* >*# $* +%.*/)*.’+ .'&$ $/ .**'* 0%*#$ %+(**# *+$%()'+*

I#$*.*+$ .**#* '+ %.* /# % $'* (%+'+, ( .*9*.*#* $/ $* 0.'#'0%) /$+$%#'#& %# %$ $* *99*$'*'#$*.*+$ .%$* %00)'%()*, >' '+ $* .%$* $%$ *:%$) '+/#$+ *+$'%$* 9$.* %+ .**'0$+ $./& $**:0*$* )'9* /9 $* 9'#%#'%) %++*$ $/ $%$ %++*$’+ #*$ %..'#& %/#$

! C"!*"$$%& " /a&- a$+ /a&- <#?a$%&

F/. $* 0.0/+* /9 $* S$%$**#$ /9 C%+ F)/>+, %+ '+ /#+'*.* $/ (* %+ /# %# %# '# /0*.%$'#&%/#$+ '# (%#;+ C%+ *'%)*#$+ .*0.*+*#$ *0/+'$+ %# '&) )'' '#*+$*#$+ >'$ %$.'$'*+ /9 )*++ $%# $.** /#$+

$ C"!*a'a%?&

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

24






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

4. FOREIGN CURRENCY TRANSLATION

T* /#+/)'%$* 9'#%#'%) +$%$**#$+ %.* 0.*+*#$* '# RON, >' '+ OMV P*$./ SA 9#$'/#%)..*# E% *#$'$ '# P*$./ G./0 *$*.'#*+ '$+ /># 9#$'/#%) ..*#, %# '$*+ '#)* '# '$+9'#%#'%) +$%$**#$+ %.* *%+.* +'#& $* 9#$'/#%) ..*# T* 9#$'/#%) ..*# /9 $* 9/.*'&#/0*.%$'/#+ '+ &*#*.%)) $*'. )/%) ..*# <>' 9/. $* %J/.'$ /9 $* G./0’+ /0*.%$'/#+ '+ $* RON=,*:*0$ 9/. %%;+$%# *#$'$'*+ $%$ %* USD %+ 9#$'/#%) ..*#

*.* $* 9#$'/#%) ..*# '99*.+ 9./ $* #%$'/#%) ..*#, /#*$%. %++*$+ %.* %)* %$ )/+'#&.%$*+ %# #/#-/#*$%. %++*$+ %$ $.%#+%$'/# .%$*+

*.* $* 9#$'/#%) ..*# '99*.+ 9./ P*$./ G./0 0.*+*#$%$'/# ..*#, 9'#%#'%) +$%$**#$+ %.*$.%#+)%$* +'#& )/+'#& .%$* *$/ D'99*.*#*+ %.'+'#& (*$>**# (%)%#* +**$ '$*+ $.%#+)%$* %$)/+'#& %# '+$/.'%) .%$*+ %.* '+)/+* %+ % +*0%.%$* (%)%#'#& '$* '.*$) '# %#&*+ '# +$/;/)*.+’*'$ <9/.*'&# *:%#&* '99*.*#*+= I#/* +$%$**#$ '$*+ %.* $.%#+)%$* %$ %*.%&* .%$*+ 9/. $**%. D'99*.*#*+ %.'+'#& 9./ $* +* /9 %*.%&* .%$*. $%# )/+'#& .%$*+ %)+/ .*+)$ '# '.*$ %J+$*#$+$/ *'$ O# '+0/+%) /9 % 9/.*'&# /0*.%$'/#, $* /0/#*#$ /9 /$*. /0.**#+'* '#/* .*)%$'#& $/

$* $.%#+)%$'/# /9 $%$ 0%.$')%. 9/.*'&# /0*.%$'/# '+ .*/&#'+* '# $* '#/* +$%$**#$T* .%$*+ %00)'* '# $.%#+)%$'#& ..*#'*+ >*.* %+ 9/))/>+?

A?'a> "' %- A?'a> "' %- Ya' $++ =a' $++ Ya' $++ =a' $++

D/!' 31, D/!' 31, D/!' 31, D/!' 31,

E)/-a$> 'a%& 2011 2011 2010 2010

US /))%. <USD= 333!3 3"475 32"45 318"4E./ <EUR= 431!7 42377 42848 4211"M/)%'%# L* <MDL= "2866 "25!8 "2661 "2573R++'%# R()* <RUB= "1"35 "1"36 "1"34 "1"54S*.('%# D'#%. <RSD= ""4"6 ""416 ""4"3 ""4"!B)&%.'%# L*% <BGN= 22"87 21667 21!"8 21531

25








(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

6. PROPERTY, PLANT AND E:UIPMENT

La$+, a$+O%-'

'>-%& a$+P'"?+ !$'a )%#'& a$+

#+$>&, $/. Pa$% a$+ A&&%& #$+' Pa=!$%& $*'"*'%& a$+ %%$>&, T"%a

#+$>& "$ !a/-$'= /"$&%'#/%"$ a+?a$/'a%+ a&&%& %""& a$+

%-'+8*a'%=<#*!$%

COST *'"*'%=

Baa$/ a& a% a$#a'= 1, 2011 9,160.16 21,056.43 3,239.19 654.05 1,6.31 1,426.17 32,.2E:%#&* '99*.*#*+ !73 11313 253 877 ""7 <"68= 13355

A'$'/#+ 1"!82 2,76777 34!17 672! 1,214!! 31545 4,8244!T.%#+9*.+ 26"11 <2!383= 78375 6542 <68!8"= <12255= 31" A++*$+ H*) 9/. S%)* "1" - - - - - "1"D'+0/+%)+ <73"7= <2785= <587"= <1518!= <2348= - <334!!=

Baa$/ a& a% D/!' 31, 2011 9,964.65 23,435.6 9,310.67 64.44 2,040.07 1,620.91 35,161.55

ACCUMULATED DEPRECIATION AND IMPAIRMENT

Baa$/ a& a% a$#a'= 1, 2011 665.0 ,34.74 1,627.59 94.01 6.55 0.37 6,556.35E:%#&* '99*.*#*+ 1!1 6128 14" 23" - - 668!D*0.*'%$'/# 2"""" 1,454"" 333!2 !641 - - 2,"8433I0%'.*#$ 444! - 3218 441 6!31 - 15"3!T.%#+9*.+ 1"! <7"83= 6447 <134= 661 - -

A++*$+ H*) 9/. S%)* - - - - - - -D'+0/+%)+ <4161= <1382= <5288= <1"224= <1862= - <22!17=.'$*-0+ <24"= - <"47= <"12= <"16= <"17= <332=

Baa$/ a& a% D/!' 31, 2011 1,070.76 4,745.7 2,206.34 949.93 11.71 0.22 10,695.97

CARRYING AMOUNT

A& a% a$#a'= 1, 2011 3,272.46 1,91.45 1,909.90 911.04 1,977.9 1,425.60 23,555.1

A& a% D/!' 31, 2011 3,37.67 14,450.24 2,102.3 901.23 1,799.16 1,620.17 24,339.26

= N*$ %/#$ .*0.*+*#$+ $.%#+9*.+ $/ '#$%#&'()*+ S** N/$* 5= I#)*+ $* %/#$ /9 RON 4632 '))'/# .*0.*+*#$'#& %'$'/#+ '# 9'#%#* )*%+'#&, RON 12!3 '))'/# .*0.*+*#$'#& )%# **+ %# RON 75"6 '))'/# .*0.*+*#$'#& '#.*%+* 9./ .*%++*++*#$ /9 $* */'++'/#'#& %++*$

27








(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

8. OTHER FINANCIAL ASSETS (/"$%$#+

I$?&%!$%&

T* 0/+'$'/# I#*+$*#$+ /0.'+*+ %)) $* '#*+$*#$+ '# +(+''%.'*+ %# %++/'%$*+ $%$ >*.* #/$/#+/)'%$*, %+ $* G./0 /*+ #/$ %* /#$./) /. +'&#'9'%#$ '#9)*#* /*. $*'. /0*.%$'/#+ /. $*>*.* /#+'*.* '%$*.'%) 9/. $* G./0 T*+* 9'#%#'%) %++*$+ %.* %/#$* 9/. %$ %/.$'* /+$

E)*$+%#' '/"?'a '"! R"!a$a$ S%a%

A+ 0%.$ /9 $* 0.'%$'%$'/# %&.***#$, OMV P*$./ SA '+ .*'.* $/ )/+* >*))+, >' %.* %(%#/#*%# %.* %>%'$'#& )/+.* H/>**., + *:0*#'$.*+ >')) (* .*/*.%()* ( $* OMV P*$./ SA 9./$* R/%#'%# S$%$* %+ $*+* 0*.$%'# $/ EP %$''$'*+ 0.'/. $/ 0.'%$'%$'/# /9 $* OMV P*$./ SA '#2""4 C/#+**#$), OMV P*$./ SA %+ .*/.* $* *+$'%$* */'++'/#'#& *:0*#'$.*+%&%'#+$ .**'%()* 9./ $* R/%#'%# S$%$* '# %/#$ /9 RON 2,163"8 '))'/# %+ %$ D**(*. 31, 2"11<2"1"? RON 1,!!284 '))'/#= OMV P*$./ SA %)+/ .*/.* .**'%()* 9./ $* R/%#'%# S$%$*.*)%$* $/ *#'./#*#$%) )'%(')'$'*+ '# EP, RM %# D/)J' %/#$'#& $/ RON 47"62 '))'/# <2"1"?

RON 46611 '))'/#= %+ $*+* >*.* *:'+$'#& 0.'/. $/ 0.'%$'%$'/# /9 OMV P*$./ SAOMV P*$./ 9')* $>/ )%'+ 9/. .*'(.+**#$ /9 *#'./#*#$%) )*%#0 /+$+ '# $* %/#$ /9 RON!168 '))'/# U0 $/ #/> $* R/%#'%# S$%$* %+ #/$ 0%' $* )%'* %/#$+

T* /**#$ /9 >.'$* /># %))/>%#*+ 9/. 9'#%#'%) %++*$+ >%+ %+ 9/))/>+?

I$?&%!$%& T"%a

a$#a'= 1, 2011 21.54 21.54

I0%'.*#$ 388 388D'+0/+%)+ <1153= <1153=

.'$*-0+ - -

D/!' 31, 2011 19.11 19.11

T* %&'#& /9 /$*. 9'#%#'%) %++*$+ >' >*.* 0%+$ * ($ #/$ '0%'.* >%+ %+ 9/))/>+?

D/!' 31, D/!' 31,2011 2010

U0 $/ 6" %+ /*.* "18 "1261 $/ 12" %+ /*.* - -M/.* $%# 12" %+ /*.* - 367

T"%a 0.16 3.57

2!






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

9. RECEIVABLES AND OTHER ASSETS

1) T.%* .**'%()*+ %.* %/#$'#& $/ RON 1,82572 '))'/# %+ %$ D**(*. 2"11 %# $/ RON 1,3!7!8'))'/# %+ %$ D**(*. 2"1" T* %.* 0.*+*#$* #*$ /9 %))/>%#*+, >' %.* *$%')* '# $* /**#$

(*)/>

2)O$*. %++*$+ <#*$ /9 %))/>%#*+=

D/!' 31,L<#+%= %'!

2011 && %-a$ 1 =a' "?' 1 =a'

P.*0%' *:0*#+*+ %# *9*..* %.&*+ 8!65 6363 26"2R*#$%) %# )*%+* 0.*0%*#$+ 3227 3227 -O$*. .**'%()*+ 27677 2538! 2288

T"%a 376.47 397.57 96.70

D(/(!(' 31,L<#+%= %'!

2010 && %-a$ 1 =a' "?' 1 =a'

P.*0%' *:0*#+*+ %# *9*..* %.&*+ 716! 4634 2535R*#$%) %# )*%+* 0.*0%*#$+ 27!1 27!1 -O$*. .**'%()*+ 54871 52883 1!88

T"%a 496.31 403.06 9.23

= V%)%$'/# %))/>%#*+ 9/. $.%* .**'%()*+ %# /$*. %++*$+

T* /**#$ /9 %)%$'/# %))/>%#*+ 9/. $.%* %# /$*. %++*$+ >*.* %+ 9/))/>+?

T'a+ '/?a& O%-' a&&%& T"%a

a$#a'= 1, 2011 207.02 360.54 67.56

A'$'/#+@ <.*)*%+*+= <2"54= 1"8 <1!46=U+* <382= <"42= <424=E:%#&* '99*.*#*+ %# %#&*+ '#

/#+/)'%$* G./0 "15 ""8 "23

D/!' 31, 2011 169.61 361.0 44.31

T* &./++ %)* /9 $* '0%'.* .**'%()*+ %+ %$ D**(*. 31, 2"11 '+ /9 RON 1!357 '))'/# 9/. $.%*

.**'%()*+ %# /9 RON 38641 '))'/# 9/. /$*. %++*$+

= T* %&'#& /9 $.%* .**'%()*+ >' >*.* 0%+$ * ($ #/$ '0%'.* >%+ %+ 9/))/>+?

D/!' 31, D/!' 31,2011 2010

U0 $/ 6" %+ /*.* 182!2 1775!61 $/ 12" %+ /*.* 68" 6!2M/.* $%# 12" %+ /*.* 146 121

T"%a 171.16 16.52

I# .*)%$'/# $/ /$*. .**'%()*+, $* %/#$ /9 RON "18 '))'/# '+ 0%+$ * 0 $/ 6" %+, ($ #/$'0%'.* %+ %$ D**(*. 31, 2"11 <D**(*. 31, 2"1"? RON "12 '))'/# 0 $/ 6" %+ %# RON 367'))'/# /.* $%# 12" %+ /*.*=

3"






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

10. INVENTORIESD/!' 31, D/!' 31,

2011 2010

C.* /') 3!381 41778N%$.%) &%+ 14271 5712O$*. .%> %$*.'%)+ 47!5" 5!7!2/.; '# 0./&.*++ 11531 12735F'#'+* 0./$+ 1,21"63 1,22515 A%#*+ 0%' 9/. '#*#$/.'*+ 7"8 748"

T"%a 2,397.09 2,00.12

11. ASSETS HELD FOR SALE

D/!' 31, D/!' 31,2011 2010

L%# 743" 7454P./0*.$, 0)%#$ %# *'0*#$ 158 237D*9*..* $%: %++*$ <+** N/$* 17= "56 "38

A&&%& -+ "' &a 54.99 55.27

A++*$+ *) 9/. +%)* .*)%$* %'#) $/ 0)/$+ /9 )%# )/%$* '# S$.%)*+$', B%.*+$, /'$$* 9/. +%)* (OMV P*$./ SA (%+* /# % /#$.%$ /#)* >'$ R%'99*'+*# E/)$'/# T*+* 0)/$+ /9 )%# %* %/+$ /9 RON 74"4 '))'/# %# %.* 0.*+*#$* '# C/.0/.%$* O$*. (+'#*++ +*&*#$

12. STOCHOLDERS’ E:UITY

Share capitalT* +%.* %0'$%) /9 OMV P*$./ SA /#+'+$+ /9 56,644,1"8,335 9)) 0%' +%.*+ %+ %$ D**(*. 31,2"11 <D**(*. 31, 2"1"? +%* #(*.= >'$ % $/$%) #/'#%) %)* /9 RON 5,66441 '))'/# T*(%)%#* 0 $/ RON 18,!8337 '))'/# .*0.*+*#$+ '#9)%$'/# %J+$*#$, %+ R/%#'% >%+ % 0*.'#9)%$'/#%.*/#/ #$') %#%. 2""4

Cash flow hedging reserveI# /.*. $/ 0./$*$ $* G./0+ %+ 9)/> '# 2"11, OMV P*$./ SA *#$*.* '# %#%. 2"11 '#$/ /') 0.'*+>%0+, )/;'#& '# % B.*#$ 0.'* /9 %00./:'%$*) USD !7@(() 9/. % /)* /9 25,""" (()@ T* /') 0.'*+>%0+ >*.* %/#$* %+ %+ 9)/> *&* %# $* *99*$'* 0%.$ /9 $* %#&*+ '# 9%'. %)* >%+.*/&#'* '.*$) '# *'$ D.'#& $* *%. 2"11 $* /') 0.'* *&* >%+ .*%)'*, .*+)$'#& '# %#

*:0*#+* /9 RON 4"334 '))'/# '# OMV P*$./ SA <P)*%+* .*9*. %)+/ $/ N/$*+ 15 %# 33=

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

F.$*./.*, '# #* 2"11, OMV P*$./ G%+ SRL /#)* RON@USD %*.%&* .%$* 9/.>%. /#$.%$+9/. $* 0*.'/ N/*(*. 2"11 F*(.%. 2"12 >*.* OMV P*$./ G%+ +*))+ USD 2!!7 '))'/# >'$

/#$) 0.''#& %# +*$$)**#$, )/;'#& '# $* RON@USD %*.%&* .%$*

31






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

12. STOCHOLDERS’ E:UITY (/"$%$#+

T'+ '#+$.*#$ '+ %'* $/ 0./$*$ $* %+ 9)/>+ 9./ 0)%##* +%)*+ /9 &%+ $/ /*+$' )'*#$+ .'#&N/*(*. 2"11 F*(.%. 2"12 %&%'#+$ *0.*'%$'/# /9 USD *.++ RON, %+ $* +%)*+ 9/.)% 0.'* '+

)'#;* $/ USD@RON *:%#&* .%$* T* 9/.>%. /#$.%$+ >*.* %/#$* 9/. %+ %+ 9)/> *&*+ %#$* 9%'. %)*+ >*.* #*&%$'* %+ /9 D**(*. 31, 2"11, %/#$'#& $/ RON 7!2 '))'/# #*$ /9 *9*..* $%:%++*$ T'+ %)* '+ .*9)*$* %+ % *.*%+* '# *'$, #*$ /9 $%: %# % /..*+0/#*#$ 9'#%#'%) )'%(')'$<P)*%+* .*9*. %)+/ $/ N/$*+ 15 %# 33=

Revenue reserves

R**#* .*+*.*+ '#)* .*$%'#* *%.#'#&+, %+ >*)) %+ /$*. #/#-'+$.'($%()* .*+*.*+ <)*&%) %#&*/)/&'%) /$% 9%')'$ .*+*.*+=

G*/)/&'%) /$% '#)* '# .**#* .*+*.*+ '+ %/#$'#& $/ RON 5,"6284 '))'/# <2"1"? +%*%/#$= U#$') D**(*. 31, 2""6 OMV P*$./ SA (*#*9'$* 9./ &*/)/&'%) /$% 9%')'$ >*.*( '$/) %.&* 0 $/ 35 /9 $* %.;*$ %)* /9 $* /)* /9 /') %# &%+ *:$.%$* .'#& $* *%. T'+9%')'$ >%+ .*/&#'* '.*$) '# .*+*.*+ T'+ /$% >%+ .*+$.'$* $/ '#*+$*#$ 0.0/+*+ %# '+ #/$'+$.'($%()* T* /$% >%+ #/#-$%:%()*

L*&%) .*+*.*+ '#)* '# .**#* .*+*.*+ %.* %/#$'#& $/ RON 8261" '))'/# <2"1"? RON 6167"'))'/#= OMV P*$./ SA +*$+ '$+ )*&%) .*+*.* '# %/.%#* >'$ $* 0./'+'/#+ /9 $* R/%#'%#C/0%#'*+ L%>, >' .*'.*+ $%$ 5 /9 $* %##%) %/#$'#& 0./9'$ (*9/.* $%: '+ $.%#+9*..* $/ )*&%).*+*.* #$') $* (%)%#* /9 $'+ .*+*.* .*%*+ 2" /9 $* +%.* %0'$%) /9 $* C/0%#

13. PROVISIONS

P$&"$&a$+ &!a' D/"!!&&"$$> O%-'

">a%"$& a$+ '&%"'a%"$ *'"?&"$& T"%a

a$#a'= 1, 2011 275.14 ,715.6 1,61.37 5,574.90

E:%#&* '99*.*#*+ - <"6!= "22 <"47=U+* <1426= <2311!= <4"368= <64!13=

A))/%$'/#+@<.*)*%+*+= <8767= 53625 66!"4 1,11762

D/!' 31, 2011 17.23 4,222.22 1,694.75 6,249.92

$*.*/9 +/.$-$*. - 32457 !8688 1,31145

$*.*/9 )/#&-$*. 1!523 5,8!765 86""! 6,!52!7

P'"?&"$& "' +$+ $% ">a%"$&

E0)/**+ /9 G./0 /0%#'*+ %.* *#$'$)* $/ .**'* +**.%#* 0%*#$+ 0/# $*.'#%$'/# /9 *0)/*#$ /. /# .*%'#& #/.%) .*$'.**#$ %&* T* *#$'$)**#$+ *0*# /# *%.+ /9 +*.'* %# 9'#%)/0*#+%$'/# )**)+ P./'+'/#+ %* (**# +*$ 0 (%+* /# %)'9'* %$%.'%) %))%$'/#+ +'#& $*9/))/>'#& 0%.%*$*.+? % '+/#$ .%$* /9 735 <2"1"? 475=, %# '#9)%$'/# .%$* /9 352 <2"1"? 3""=%# %# %*.%&* +%)%. '#.*%+* /9 6"2 <2"1"? 7""=

32






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

13. PROVISIONS (/"$%$#+

P'"?&"$& "' +/"!!&&"$$> a$+ '&%"'a%"$

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

T* 0./'+'/# 9/. */'++'/#'#& %# .*+$/.%$'/# /+$+ '#)*+ /()'&%$'/#+ '# .*+0*$ /9 OMV P*$./SA %/#$'#& $/ RON 6,1"232 '))'/# <2"1"? RON 5,7"28" '))'/#= T*.* '+ % /..*+0/#'#& )%'%&%'#+$ $* R/%#'%# S$%$* /9 RON 2,163"8 '))'/# <2"1"? RON 1,!!284 '))'/#=, >' '+ '+)/+*#*. O$*. 9'#%#'%) %++*$+ '$*

D*$%')+ /# $* D*/'++'/#'#& %# .*+$/.%$'/# /()'&%$'/#+ %.* %+ 9/))/>+?

D/!' 31, D/!' 31,2011 2010

Baa$/ a& a% a$#a'= 1 ,715.6 ,49.26

E:%#&* '99*.*#*+ <"6!= 385N*> /()'&%$'/#+ 17" !!42C%#&*+ '# /#+/)'%$* G./0 - <"!8=R*'+'/#+ '# *+$'%$*+ 174"3 4237U#>'#'#& *99*$ 36"52 453"!

S*$$)**#$+ ..*#$ *%. <2311!= <24418=

Baa$/ a& a% D/!' 31 4,222.22 ,715.6

T* #>'#'#& *99*$ '+ '#)* '# $* '#/* S$%$**#$ #*. $* #*$ '#$*.*+$ *:0*#+* )'#* T*.*'+'/#+ '# *+$'%$*+ '0%$ *'$*. $* %++*$+ +(J*$ $/ */'++'/#'#& <%+ 0.*+*#$* '# N/$* 6= /. $*.*)%$* .**'%()* 9./ S$%$*

O$*. 0./'+'/#+ >*.* %+ 9/))/>+?

2011 T"%a && %-a$ 1 =a' "?' 1 =a'

E#'./#*#$%) 0./'+'/# 4!"2! 2"463 285-66

O$*. 0*.+/##*) 0./'+'/#+ 143!1 143-!1 -P./'+'/#+ 9/. )'$'&%$'/#+ 566"! 11673 44!-36

O$*. 64668 52161 125-"7

T"%a 1,694.75 764.66 640.07

2010 T"%a && %-a$ 1 =a' "?' 1 =a'

E#'./#*#$%) 0./'+'/# 638"5 2825! 355-46

O$*. 0*.+/##*) 0./'+'/#+ 22352 223-52 -P./'+'/#+ 9/. )'$'&%$'/#+ 6!8!7 21753 481-44

O$*. 2"85 1543 542

T"%a 1,61.37 537.05 692.32

33






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

13. PROVISIONS (/"$%$#+

E$?'"$!$%a *'"?&"$&

T* *#'./#*#$%) 0./'+'/# '+ *+$'%$* ( $* %#%&**#$ (%+* /# $* )'+$ /9 *#'./#*#$ .*)%$*0./J*$+ $%$ +$ (* /0)*$* ( P*$./ G./0 P*$./ G./0 *:0*.$+ '# *#'./#*#$%) '++*+ %*$*'. (*+$ *+$'%$*+ '# /.*. $/ *$*.'#* $* #**++%. 0./'+'/#+ .*/.* %+ %$ D**(*. 31, 2"11OMV P*$./ SA .*/.* *#'./#*#$%) )'%(')'$'*+ %&%'#+$ .**'%()* 9./ $* R/%#'%# S$%$* '# EP,RM %# D/)J', %+ $*+* /()'&%$'/#+ *:'+$* 0.'/. $/ 0.'%$'%$'/#

E!&&"$& /'%/a%&

D'.*$'* 2""3@87@EC /9 $* E./0*%# P%.)'%*#$ %# /9 $* E./0*%# C/#') *+$%()'+* % &.**#/+*&%+ *'++'/#+ $.%'#& +**, .*'.'#& *(*. +$%$*+ $/ .%> 0 #%$'/#%) 0)%#+ $/ %))/%$* *'++'/#+*.$'9'%$*+ R/%#'% >%+ %'$$* $/ $* +** '# %#%. 2""7, >*# '$ J/'#* $* EU

OMV P*$./ SA '+ $* /#) /0%# 9./ P*$./ G./0 '#)* '#$/ $* *'++'/# *.$'9'%$*+%))/%$'/# +** U#*. $'+ +** OMV P*$./ SA .**'* % $/$%) /9 4,444,34! 9.** *'++'/#+*.$'9'%$*+ 9/. $* *%. 2"11 <2"1"? 4,65",862=

D.'#& 2"11 P*$./ G./0 % +%)*+ /9 1,165,""" <2"1"? 2,65","""= *'++'/#+ *.$'9'%$*+

A+ %$ D**(*. 31, 2"11, P*$./ G./0 % #/ +/.$9%)) '# EU %))/>%#*+ %))/%$* /0%.* $/ $*CO2 *'++'/#+ /9 '#+$%))%$'/#+ +(J*$ $/ $* EU E'++'/# T.%'#& S**

O%-' *'&"$$ *'"?&"$&

I#)* '# /$*. 0*.+/##*) 0./'+'/#+ '+ %'#) $* .*+$.$.'#& 0./'+'/# .*/.* ( OMV P*$./ SA

9.$*. $/ %00./* .*+$.$.'#& 0)%# $%$ %+ (**# /#'%$* $/ $/+* %99*$* ( '$

P'"?&"$& "' %>a%"$&

P*$./ G./0 /#'$/.+ %)) )'$'&%$'/#+ '#+$'&%$* %&%'#+$ '$ %# %++*++*+ $* )';*)'// /9 )/++*+ %#.*)%$* 9'#%#'%) /+$ +'#& '# /+* )%>*.+ %# /$+'* )*&%) %'+/.+ P*$./ G./0 %+ %++*++* $*0/$*#$'%) )'%(')'$'*+ >'$ .*+0*$ $/ /#&/'#& %+*+ %# .*/.* '$+ (*+$ *+$'%$* /9 )';*) %+ /$9)/>+

O%-' *'"?&"$&

T* %'# +/.$-$*. 0./'+'/# '#)* #*. $'+ )'#* '+ $* %/#$ /9 RON 5"382 '))'/# .*0.*+*#$'#&$* 9'#* '0/+* ( $* R/%#'%# C/0*$'$'/# C/#') $/ OMV P*$./ SA %# $/ OMV P*$./M%.;*$'#& SRL %+ % .*+)$ /9 $* %#$'$.+$ '#*+$'&%$'/#

U#*. /$*. )/#&-$*. 0./'+'/#+ '$ '+ '#)* $* %/#$ /9 RON 12"17 '))'/# .*0.*+*#$'#& *+$'%$*/+$+ '# .*)%$'/# $/ A.0*' .*9'#*. 0*.%#*#$ )/+.* %##/#* '# M%. 2"11

34






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

19. INTEREST8BEARING DEBTS

D/!' 31, 2011 T"%a L&& %-a$ 1 =a' O?' 1 =a'

I#$*.*+$-(*%.'#& 9'#%#'%) )'%(')'$'*+ 2,63725 463!5 2,1733"

TOTAL 2,435.2 943.7 2,153.30

D/!' 31, 2010 T"%a L&& %-a$1 =a' O?' 1 =a'

I#$*.*+$-(*%.'#& 9'#%#'%) )'%(')'$'*+ 3,85656 3!1"5 3,46551

TOTAL 3,64.4 371.0 3,94.1

A+ %$ D**(*. 31, 2"11 %# 2"1" P*$./ G./0 % $* 9/))/>'#& )/%#+?

I$%'&%8a'$> +%& &-"'%8%'!

B"''"' L$+' D/!' 31, D/!' 31,

2011 2010

OMV P*$./ SA E./0*%# B%#; 9/. R*/#+$.$'/# %#D**)/0*#$ <%= 4"11! 33664

OMV P*$./ SA B)%; S*% T.%* %# D**)/0*#$ B%#; <(= 216" 2142OMV P*$./ SA E./0*%# I#*+$*#$ B%#; <= 2674 -OMV P*$./ SA R%'99*'+*# B%#; SA <= ""1 -

OMV P*$./ SA A.* '#$*.*+$ 2"62 32!!

OMV P*$./ SA P.*0%*#$+ '# .*)%$'/# >'$ )/%# %/#$+ .%># <621= -

T"%a $%'&% a'$> +%& &-"'% %'! 943.7 371.0

I$%'&%8a'$> +%& "$>8%'!

B"''"' L$+' D/!' 31, D/!' 31,

2011 2010

OMV P*$./ SA E./0*%# B%#; 9/. R*/#+$.$'/# %# 1,2!526 1,3!871D**)/0*#$ <%=

OMV P*$./ SA B)%; S*% T.%* %# D**)/0*#$ B%#; <(= 647! 857"OMV P*$./ SA E./0*%# I#*+$*#$ B%#; <= 8372" 557"2

OMV P*$./ SA B%#;+ C/#+/.$' <%&*#$? U#'C.*'$ B%#; A+$.'% - 1,"74"8 AG= <*=OMV P*$./ SA B%#;+ C/#+/.$' <%&*#$? U#'C.*'$ B%#; A+$.'% - 35"""

AG= <9=

OMV P*$./ SA P.*0%*#$+ '# .*)%$'/# >'$ )/%# %/#$+ .%># <23!5= -

T"%a $%'&%8a'$> +%& "$> %'! 2,153.30 3,94.1

35






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

14. INTEREST8BEARING DEBTS (/"$%$#+

(1) D.'#& 2""!, OMV P*$./ SA /#)* $>/ )/%# %&.***#$+ >'$ E./0*%# B%#; 9/.

R*/#+$.$'/# %# D**)/0*#$?

(1) A# #+*.* /.0/.%$* )/%# %&.***#$ 9/. % %:' %/#$ /9 EUR 2"""" '))'/# 9/. $*/#+$.$'/# /9 $* P/>*. P)%#$ '# P*$./(.%' T* %&.***#$ >%+ +'&#* /# M% 8, 2""! %# $*9'#%) %$.'$ %$* '+ N/*(*. 1", 2"2" T* .%>'#&+ %+ %$ D**(*. 31, 2"11 %/#$* $/RON 81815 '))'/# <*'%)*#$ /9 EUR 18!4" '))'/#= <D**(*. 31, 2"1"? RON 557"2 '))'/#,*'%)*#$ /9 EUR 13""" '))'/#=

(2) A# #+*.* /.0/.%$* )/%# %&.***#$ 9/. % %:' %/#$ /9 EUR 275"" '))'/# >'$ $*0.0/+* /9 9#'#& %# *#'./#*#$%) 0./J*$+ 0./&.% '# .*+0*$ /9 %.'/+ /0*.%$'/#+<0+$.*%, '+$.*% %# />#+$.*%=, %$* M%. 31, 2""!, >'$ 9'#%) %$.'$ %$*N/*(*. 16, 2"15 <9/. %# %/#$ /9 EUR 15""" '))'/#= %# N/*(*. 15, 2"13 <9/. $*.*%'#'#& EUR 125"" '))'/#= T* .%>'#&+ %+ %$ D**(*. 31, 2"11 >*.* RON 8783" '))'/#<*'%)*#$ /9 EUR 2"333 '))'/#= <D**(*. 31, 2"1"? RON 1,17833 '))'/#, *'%)*#$ /9 EUR 275"" '))'/#=

(2) F/. $* 9#'#& /9 $* *#'./#*#$%) 0./&.% OMV P*$./ SA /#)* %)+/ % 0%.%))*) #+*.*/.0/.%$* )/%# %&.***#$ >'$ B)%; S*% T.%* %# D**)/0*#$ B%#;, 9/. % %:' %/#$ /9 EUR 25"" '))'/# T* %&.***#$ >%+ +'&#* /# A0.') 27, 2""! %# $* 9'#%) %$.'$ %$* '+N/*(*. 15, 2"15 T* .%>'#&+ %+ %$ D**(*. 31, 2"11 %/#$* $/ RON 863! '))'/#<*'%)*#$ /9 EUR 2""" '))'/#= <D**(*. 31, 2"1"? RON 1"712 '))'/#, *'%)*#$ /9 EUR 25""'))'/#=

(3) F/. 9#'#& $* /#+$.$'/# /9 $* P*$./(.%' P/>*. P)%#$, OMV P*$./ SA /#)* %)+/ %##+*.* )/%# %&.***#$ 9/. %# %/#$ /9 EUR 2"""" '))'/# >'$ E./0*%# I#*+$*#$ B%#; T*

%&.***#$ >%+ +'&#* /# M% 8, 2""! %# $* 9'#%) %$.'$ %$* '+ #* 15, 2"23 T* .%>'#&+ %+%$ D**(*. 31, 2"11 >*.* '# %)* /9 RON 863!4 '))'/# <*'%)*#$ /9 EUR 2"""" '))'/#=<D**(*. 31, 2"1"? RON 557"2 '))'/#, *'%)*#$ /9 EUR 13""" '))'/#=

(4) C.*'$ 9%')'$ &.%#$* ( R%'99*'+*# B%#; SA 0 $/ EUR !5"" '))'/#, >'$ %$.'$ %$* 0./)/#&*$/ D**(*. 31, 2"13 T* 9%')'$ '+ #/$ +*.* T'+ 9%')'$ %# (* +* %+ /*..%9$ %# 9/. '++%#* /9 )*$$*.+ /9 &%.%#$** %# )*$$*.+ /9 .*'$ '# )$'-..*#'*+ S$%.$'#& >'$ S*0$*(*. 2!,2"1", $* 9%')'$ %# (* +* '# $* +%* )''$ %)+/ ( OMV P*$./ M%.;*$'#& SRL ($ /#) 9/. '++%#* /9 )*$$*.+ /9 &%.%#$** %# )*$$*.+ /9 .*'$

(5) O# O$/(*. 14, 2""8 OMV P*$./ SA /#)* %# #+*.* .*/)'#& .*'$ 9%')'$, 9/. %%:' %/#$ /9 EUR 375"" '))'/#, >'$ % /#+/.$' /9 (%#;+ $%$ '#)*+ BRD G./0*S/'$ G#.%)* SA, C.'$ A&.'/)* L:*(/.& SA, E0/.';' B%#;-R/%#'% SA, E.+$* G./0

B%#; AG, R%'99*'+*# *#$.%)(%#; +$*..*' AG, S/'$ G#.%)* B%#; T.+$ SA %# U#'C.*'$B%#; A+$.'% AG I# 2""! $* 9'#%) %$.'$ >%+ 0./)/#&* $/ O$/(*. 14, 2"12, />**. $*%&.***#$ >%+ %#*)* '# N/*(*. 2"11 >*# % #*> 9%')'$ >'$ % '99*.*#$ B%#;+ C/#+/.$',>%+ +'&#* <+** N/$* <&== T* .%>'#&+ %+ /9 D**(*. 31, 2"1", '# %/#$ /9 RON !64"8 '))'/#<*'%)*#$ /9 EUR 225"" '))'/#= %# RON 11""" '))'/# >*.* 9)) .*'(.+* .'#& 2"11

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

36






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+


(7) O# N/*(*. 22, 2"11, OMV P*$./ SA .*0)%* $* .*/)'#& .*'$ 9%')'$'*+ %/#$'#& $/ EUR875"" '))'/# /#$.%$* '# 2""8 %# 2""! <+** N/$*+ <*= %# <9== >'$ % #*> #+*.* 9%')'$

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

(8) A C.*'$ O99*. /9 EUR 5"""" '))'/# >%+ +'&#* ( OMV P*$./ SA >'$ OMV A;$'*#&*+*))+%9$9/. 9#'#& $* &*#*.%) /.0/.%$* 0.0/+*+ T* %&.***#$ >%+ +'&#* /# %#%. 15, 2""! %# $*9'#%) %$.'$ %$* '+ %#%. 15, 2"14 T* 9%')'$ >%+ #/$ +* %$ D**(*. 31, 2"11 %#D**(*. 31, 2"1" T* 9%')'$ '+ #+*.*

T* G./0 /0%#'*+ %* +**.%) /*..%9$ 9%')'$'*+ +'&#* %+ %$ D**(*. 31, 2"11 %+ 9/))/>+?

(9) A# #+*.* 9%')'$ /#$.%$* ( OMV B)&%.'% OOD 9./ C'$'(%#; S/9'%, *:'+$'#& %$ D**(*. 31,2"11, >'$ % %:' )''$ /9 BGN 3!48 '))'/# <*'%)*#$ /9 RON 872" '))'/#= %# %$.'$ %$*) 15, 2"12 T* *+$'#%$'/# /9 $* 9%')'$ '+ 9'#%#'#& ..*#$ /0*.%$'/#%) %$''$'*+ </*..%9$= %#'++%#* /9 )*$$*.+ /9 &%.%#$** >'$/$ %+ /))%$*.%) T*.* >*.* #/ .%>'#&+ #*. $* /*..%9$9%')'$ %+ %$ D**(*. 31, 2"11

(10) A# #+*.* 9%')'$ /#$.%$* ( OMV B)&%.'% OOD 9./ U#'C.*'$ B)(%#; S/9'% >'$ %%:' )''$ /9 BGN 33"" '))'/# <*'%)*#$ /9 RON 728! '))'/#= %# %$.'$ /# #* 3", 2"12T* *+$'#%$'/# /9 $* 9%')'$ '+ 9'#%#'#& ..*#$ /0*.%$'/#%) %$''$'*+ </*..%9$= %# '++%#* /9 )*$$*.+ /9 &%.%#$** >'$/$ %+ /))%$*.%) N/ .%>'#&+ >*.* %* #*. $* /*..%9$ 9%')'$ %+ %$D**(*. 31, 2"11

(11) A# #+*.* 9%')'$ /#$.%$* ( OMV S*.('J% DOO 9./ R%'99*'+*# B%#; B*)&.%*, >'$ %%:' )''$ /9 EUR 45" '))'/# <*'%)*#$ /9 RON 1!44 '))'/#= %# %$.'$ 0./)/#&* $/%#%. 31, 2"13 T* *+$'#%$'/# /9 $* 9%')'$ '+ &*#*.%) /.0/.%$* 0.0/+*+ 9'#%#'#& /# % ./))-/*. (%+'+ %# '++%#* /9 )*$$*.+ /9 &%.%#$** >'$/$ %+ /))%$*.%) N/ .%>'#&+ >*.* %* #*. $*.*/)'#& 9%')'$ %+ %$ D**(*. 31, 2"11

(12) A# /*..%9$ 9%')'$ /9 RON 85"" '))'/# '+ '# 0)%* >'$ B%#% C/*.'%)% I#$*+% S%#0%/)/R/%#'% SA 9/. &*#*.%) /.0/.%$* *:0*#'$.*, >'$ %$.'$ %$* A0.') 23, 2"12 N/ .%>'#&+ >*.*%* #*. $* 9%')'$ %+ %$ D**(*. 31, 2"11 T* 9%')'$ '+ #/$ +*.*

(13) A# #/'$$*, #+*.* 9%')'$ /#$.%$* ( OMV P*$./ SA 9./ ING B%#; NV, $%$%# (* +* '# USD, RON /. EUR, '# $/$%) %/#$ /9 EUR 7""" '))'/# <*'%)*#$ /9 RON 3"238'))'/#=, 9/. $* 0.0/+* /9 '++'#& &%.%#$**+ %# >/.;'#& %0'$%) 9'#%#'#& T* 0/.$'/# 9/. /*..%9$'+ /9 EUR 3""" '))'/# <*'%)*#$ /9 RON 12!5! '))'/#= N/ .%>'#&+ #*. $* /*..%9$ 9%')'$>*.* %* %+ %$ D**(*. 31, 2"11

(14) A /'$$* .*'$ 9%')'$ /#$.%$* ( OMV P*$./ SA 9./ BRD G./0* S/'$G#.%)* SA $%$ %# (* +* '# USD, RON /. EUR, >'$ %:' )''$ /9 EUR 53"" '))'/#<*'%)*#$ /9 RON 228!4 '))'/#= %# %$.'$ %$* A0.') 3", 2"12 T* .*'$ '+ *+$'#* $/ 9'#%#*$* (/../>*.’+ ..*#$ %$''$ N/ .%>'#&+ #*. $* 9%')'$ >*.* %* %+ %$ D**(*. 31, 2"11T* .*'$ '+ #+*.*

37






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+


T* G./0 /0%#'*+ %* +'&#* %)+/ 9%')'$'*+ >'$ +**.%) (%#;+ 9/. '++'#& )*$$*.+ /9 &%.%#$**, %+9/))/>+?

(15) A 9%')'$ %&.***#$ >%+ +'&#* ( OMV P*$./ SA >'$ F/.$'+ B%#; B%.*+$ (.%# 9/. 0 $/ EUR 3""" '))'/# <*'%)*#$ /9 RON 12!5! '))'/#=, $/ (* $')'* /#) 9/. '++%#* /9 )*$$*.+/9 &%.%#$**, >'$ %$.'$ %$* D**(*. 16, 2"12 T* 9%')'$ '+ #/$ +*.*

(16) C.*'$ 9%')'$ 0 $/ EUR 7433 '))'/# <*'%)*#$ /9 RON 3211" '))'/#= /($%'#* ( OMVP*$./ SA 9./ BRD G./0* S/'$ G#.%)* SA, $/ (* $')'* /#) 9/. '++%#* /9 % )*$$*. /9 &%.%#$** 9/. 9'+%) %$/.'$'*+ T* %)''$ 0*.'/ 9/. $* .*'$ 9%')'$ '+ #$') A0.') 3", 2"12 T*9%')'$ '+ #/$ +*.*

(17) C.*'$ 9%')'$ .**'* ( OMV P*$./ SA 9./ B%#0/+$ SA, 0 $/ EUR 25"" '))'/#<*'%)*#$ /9 RON 1"7!! '))'/#=, $/ (* $')'* /#) 9/. '++%#* /9 )*$$*.+ /9 &%.%#$** T* 9%')'$'+ #/$ +*.*

(18) C.*'$ 9%')'$ 0 $/ USD 3"" '))'/# <*'%)*#$ /9 RON 1""2 '))'/#= /($%'#* ( OMVP*$./ SA 9./ RBS B%#; R/%#'% SA, $/ (* $')'* /#) 9/. '++%#* /9 )*$$*.+ /9 &%.%#$**, >'$%$.'$ %$* O$/(*. 28, 2"11 ($ >'$ $* 0/++'(')'$ /9 $')'%$'/# ( $%'$ /#+*#$ /9 $* 0%.$'*+ T*9%')'$ '+ #/$ +*.*

(19) T* .*'$ 9%')'$ 0 $/ EUR 56" '))'/# <*'%)*#$ /9 RON 241! '))'/#= /($%'#* ( P*$./ A'%$'/# SA 9./ R%'99*'+*# B%#; 9/. '++'#& /9 (%#; &%.%#$**+, 0./)/#&* #$') D**(*. 15,2"12

A+ %$ D**(*. 31, 2"11, P*$./ G./0 '+ '# /0)'%#* >'$ 9'#%#'%) /*#%#$+ +$'0)%$* ( $* )/%#%&.***#$+

P)*%+* .*9*. %)+/ $/ N/$* 34 9/. *$%')+ .*&%.'#& 9':* %# %.'%()* '#$*.*+$ .%$*+ /9 '#$*.*+$-(*%.'#& *($

15. OTHER FINANCIAL LIABILITIES

D/!' 31,2011 && %-a$ 1 =a' "?' 1 =a'

L'%(')'$'*+ 9./ *&* /#$.%$+ 152"6 152"6 -F'#%#* )*%+* )'%(')'$'*+ 72"6 1"4! 6157O$*. 9'#%#'%) )'%(')'$'*+ 4"358 31661 86!7

T"%a 425.50 957.14 196.9

D/!' 31,2010 && %-a$ 1 =a' "?' 1 =a'

F'#%#* )*%+* )'%(')'$'*+ 3"62 485 2577O$*. 9'#%#'%) )'%(')'$'*+ 44!86 2!725 15261

T"%a 960.96 302.10 156.36

La%& '"! -+> /"$%'a/%&

T/ 0./$*$ $* G./0’+ %+ 9)/> '# 2"12, OMV P*$./ SA *#$*.* '#$/ .* /') *&*+ 9/. % /)* /9 3",""" (()@ L'%(')'$'*+ 9./ *&* /#$.%$+ %.* %)* %$ $* %.;*$ %)* /9 RON 14263 '))'/# %+ %$D**(*. 31, 2"11 F.$*./.*, OMV P*$./ G%+ /#)* RON@USD %*.%&* .%$* 9/.>%. /#$.%$+9/. $* 0*.'/ N/*(*. 2"11 F*(.%. 2"12, %)* %$ $* %.;*$ %)* /9 RON !43 '))'/# %+ %$D**(*. 31, 2"11 <P)*%+* .*9*. %)+/ $/ N/$*+ 12 %# 33=

38






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

15. OTHER FINANCIAL LIABILITIES (/"$%$#+

F$a$/ a& a%&

P*$./ G./0 %'.* $./& 9'#%#* )*%+* %'#) %.+, $.;+ %# 0/>*. &*#*.%$/.+, >' %.* *)( OMV P*$./ SA, P*$./ A'%$'/# SA %# OMV P*$./ M%.;*$'#& SRL

A (.*%;/># /9 0.*+*#$ %)* /9 9'#%#* )*%+* )'%(')'$'*+ '+ 0.*+*#$* (*)/>

D/!' 31, D/!' 31,

O>a%"$& #$+' $a$/ a&&2011 2010

A/#$+ * >'$'# 1 *%. 146" 6!2 A/#$+ * %9$*. /.* $%# 1 *%. ($ #/$ )%$*. $%# 5 *%.+ 5647 163! A/#$+ * %9$*. 5 *%.+ 4!3" 4!54

T"%a a& ">a%"$& 120.35 52.6

L&& #%#' $a$/ /-a'>& "$ $a$/ a&& (96.31 (92.23

P'&$% ?a# " $a$/ a& a%& 52.04 30.42

Analysed as follows:M%$.'#& >'$'# 1 *%. 1"4! 485M%$.'#& %9$*. /.* $%# 1 *%. ($ #/$ )%$*. $%# 5 *%.+ 4523 !78M%$.'#& %9$*. 5 *%.+ 1634 15!!

T"%a *'&$% ?a# " $a$/ a& a%& 52.04 30.42

Ma%#'%= *'" " $a$/a a%&

T* $%()* (*)/> +%.'*+ $* %$.'$ 0./9')* /9 $* G./0+ 9'#%#'%) )'%(')'$'*+ (%+* /# /#$.%$%)#'+/#$* %+ 9)/>+?

1 =a' 18 =a'& =a'& T"%a

2011 3,05.4

I#$*.*+$-(*%.'#& *($+ 5563" 1,563"7 !5628T.%* 0%%()*+ 2,!8258 - - 2,762.6

O$*. 9'#%#'%) )'%(')'$'*+ 48326 1"576 !353 462.

T"%a 9,022.19 1,446.63 1,097.61 4,590.56

2010 9,94.2

I#$*.*+$-(*%.'#& *($+ 562!8 3,143!3 74!34T.%* 0%%()*+ 3,45335 - - 3,93.3

O$*. 9'#%#'%) )'%(')'$'*+ 3"413 1"3!3 12358 31.49

T"%a 9,320.94 3,295.64 652.72 6,991.29

3!






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

14. OTHER LIABILITIES

D/!' 31,2011 && %-a$ 1 =a' "?' 1 =a'

D*9*..* '#/* 1"281 1"281 -T%: )'%(')'$'*+ 4"875 4"875 -S/'%) +*.'$ 38!2 38!2 -O$*. )'%(')'$'*+ 61"8 61"8 -

T"%a 411.4 411.4 8

D/!' 31,2010 && %-a$ 1 =a' "?' 1 =a'

D*9*..* '#/* !3"6 !3"6 -

T%: )'%(')'$'*+ 27567 27567 -S/'%) +*.'$ 2781 2781 -O$*. )'%(')'$'*+ 8155 8155 -

T"%a 956.07 956.07 8

15. DEFERRED TAJ

D''+ %a)2011 a&&%& "' N% +''+ D''+ %a)

a"a$/& A"a$/& %a) a&&%& a%&

T%#&'()* %# '#$%#&'()* %++*$+ 17"!1 231" 14781 4"561F'#%#'%) %++*$+ 4562 - 4562 726I#*#$/.'*+ 54!5 - 54!5 173R**'%()*+ %# /$*. %++*$+ 821" 4286 3!24 -U#$%:* .*+*.*+ - - - 1464P./'+'/#+ 9/. 0*#+'/#+ %#

+**.%#* 0%*#$+ 3124 - 3124 -O$*. 0./'+'/#+ 77175 1""3 76172 -L'%(')'$'*+ 4!65 - 4!65 ""!T%: )/++ %..'* 9/.>%. !4"5 - !4"5 -

TOTAL 1,300.25 5.77 1,229.26 927.33

N*$$'#& <+%* $%: J.'+'$'/#@/#$.= <417"6= <417"6=

D''+ %a), $% 605.22 12.25D*9*..* $%: 9/. %++*$+ *)

9/. +%)* <+** N/$* 11= "56 - "56 -

D''+ %a), TOTAL 605.56 12.25

4"






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

17. DEFERRED TAJ (/"$%$#+

D''+ %a)2010 a&&%& "' N% +''+ D''+ %a)

a"a$/& A"a$/& %a) a&&%& a%&

T%#&'()* %# '#$%#&'()* %++*$+ !4"2 152 !25" 445!8F'#%#'%) %++*$+ 4885 2"8 4677 662I#*#$/.'*+ 5"25 - 5"25 -R**'%()*+ %# /$*. %++*$+ 783" 3!76 3854 -U#$%:* .*+*.*+ - - - 178!P./'+'/#+ 9/. 0*#+'/#+ %#

+**.%#* 0%*#$+ 4755 - 4755 -O$*. 0./'+'/#+ 77755 35"6 7424! -L'%(')'$'*+ 3546 - 3546 ""7T%: )/++ %..'* 9/.>%. 12441 - 12441 -

TOTAL 1,24.37 56.92 1,155.75 950.4

N*$$'#& <+%* $%: J.'+'$'/#@/#$.= <44386= <44386=

D''+ %a), $% 539.11 24.50D*9*..* $%: 9/. %++*$+ *)

9/. +%)* <+** N/$* 11= "38 - "38 -

D''+ %a), TOTAL 539.97 24.50

A$ $* *# /9 2"11, )/++*+ %..-9/.>%. 9/. $%: 0.0/+*+ %/#$* $/ RON 5"272 '))'/# <2"1"? RON

655!8 '))'/#= E)'&'(')'$ /9 )/++*+ 9/. %..-9/.>%. *:0'.*+ %+ 9/))/>+?

2"112011 2010

- 8"12"12 1675 25772"13 354 11"62"14 255 7282"15 14!5 71382"16@ A9$*. 2"15 3152 53248 A9$*. 2"16 43341 -

T"%a 02.52 4.76

41






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

16. OTHER OPERATING INCOMED/!' 31, D/!' 31,

2011 2010

E:%#&* &%'#+ 9./ /0*.%$'#& %$''$'*+ 1"4"5 14!48G%'#+ 9./ $* '+0/+%) /9 9':* %++*$+ 3672 3!"4.'$*-0 $%#&'()* %# '#$%#&'()* %++*$+ 363 548O$*. /0*.%$'#& '#/* 28811 31!85

T"%a 932.1 13.6

O$*. /0*.%$'#& '#/* '#)* +%)*+ /9 %.(/# *.$'9'%$*+ %/#$'#& $/ RON 676! '))'/# <2"1"? RON16832 '))'/#= %# .*%++*++*#$ /9 .*$'.**#$ 0./'+'/# /9 RON 1"274 '))'/# 9/))/>'#& %#&* '#0%.%*$*.+ %+ *+.'(* '# N/$* 13

17. OTHER OPERATING EJPENSESD/!' 31, D/!' 31,

2011 2010

E:%#&* )/++*+ 9./ /0*.%$'#& %$''$'*+ 12""2 1221"L/++*+ 9./ $* '+0/+%) /9 9':* %++*$+ 32"4 2"3!E:0*#+*+@ <I#/*= >'$ 0./'+'/#+ 9/. )'$'&%$'/#+ <347= 7187O$*. /0*.%$'#& *:0*#+*+ 1,25861 1,"656!

T"%a 1,905.20 1,260.0

O$*. /0*.%$'#& *:0*#+*+ '#)* %# %/#$ /9 RON 8"3 '))'/# '# 2"11 <2"1"? RON 12!28 '))'/#=.*0.*+*#$'#& .*+$.$.'#& *:0*#+*+ A)+/, /$*. /0*.%$'#& *:0*#+*+ 9/. $* *%. *#* D**(*. 31,2"11 '#)* %# %/#$ /9 RON 5"382 '))'/# .*0.*+*#$'#& $* 0./'+'/# 9/. $* 9'#* .**'* 9./R/%#'%# C/0*$'$'/# C/#') %# RON 12"17 '))'/# .*0.*+*#$'#& *+$'%$* /+$+ '# .*)%$'/# $/ A.0*' .*9'#*. 0*.%#*#$ )/+.*

42






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

20. EARNINGS BEFORE INTEREST AND TAJ PRESENTATION USING A CLASSIFICATION BASED ON

NATURE OF EJPENSES

A+ %$ D**(*. 31, 2"11 %# D**(*. 31, 2"1" *%.#'#&+ (*9/.* '#$*.*+$ %# $%: #*. $* $/$%) /+$

*$/ >*.* %+ 9/))/>+?

D/!' 31, D/!' 31,2011 2010

R?$#& 22,413.4 16,41.47

I#*#$/. %#&*+ <2"2!8= 828"O># >/.; %/#$* 9/. '# 9':* %++*$+ 475!3 24734O$*. /0*.%$'#& '#/* 42888 5"837

C/+$+ /9 %$*.'%) <7,8!728= <6,44114=C/+$+ /9 *#*.& <42623= <46""3=O$*. /+$+ /9 0./$'/# <2,17638= <2,1216"=

C"&% " !a%'a a$+ &'?/& (10,977.67 (7,022.55

%&*+ %# +%)%.'*+ <1,8""14= <1,83623=O$*. 0*.+/##*) *:0*#+*+ <12332= <24867=

P'&"$$ )*$&& (1,723.94 (2,069.70

D*0.*'%$'/# %# %/.$'%$'/# <2,3277!= <2,13"22=I0%'.*#$ $%#&'()* %# '#$%#&'()* %++*$+ <5"242= <6814"=

D*'/a%"$, a!"'%Ka%"$ a$+ !*a'!$% (2,630.21 (2,611.42

T.%#+0/.$%$'/# %# 0/+$%&* *:0*#+*+ <64884= <54262=R*#$%) *:0*#+*+ <22522= <218""= A*.$'+'#& %# 0./$//) *:0*#+*+ <7773= <758!=I#+.%#* *:0*#+*+ <4!!!= <4138=T.%*) *:0*#+*+ %# %') %))/>%#*+ <63"5= <5268=O$*. /0*.%$'#& *:0*#+*+ <2,"6133= <1,61883=

T"%a "%-' "*'a%$> )*$&& (3,124.14 (2,97.90

EARNINGS BEFORE INTEREST AND TAJ 9,73.54 2,76.1

21. INCOME FROM ASSOCIATED COMPANIES

D/!' 31, D/!' 31,2011 2010

I#/* 9./ %++/'%$* /0%#'*+ "26 443D''*#+ 9./ %++/'%$* /0%#'*+ 286 22!

T"%a $/"! '"! a&&"/a%+ /"!*a$& 3.12 4.52

43








(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

29. TAJES ON INCOME

D/!' 31, D/!' 31,2011 2010

T%:*+ /# '#/* - ..*#$ *%. !"!83 5"144D*9*..* $%: <5!86= <8577=

T"%a %a)& "$ $/"! 697.75 91.45

T* .*/#')'%$'/# /9 *9*..* $%:*+ '+ %+ 9/))/>+?

D/!' 31, D/!' 31,2011 2010

D*9*..* $%:*+ %#%. 1 7"77! 65474D*9*..* $%:*+ D**(*. 31 7!551 7"77!

C-a$>& $ +''+ %a)& 65.52 3.0

D*9*..* $%:*+ /# .*%)%$'/# /9 +*.'$'*+ %#*&*+ %.&* '.*$) $/ *'$ 243" <344"=

C%#&*+ '# /#+/)'%$* G./0, *:%#&*'99*.*#*+ %# +'')%. '$*+ 356 168

D''+ %a)& *' $/"! &%a%!$% 7.64 6.55

R/"$/a%"$

N% *'"% "' %a)a%"$ 9,406.7 2,40.32

I#/* $%: .%$* %00)'%()* 9/. P%.*#$ /0%# 16"" 16""P'"%& %a) a&+ "$ $/"! %a) 'a% " %- Pa'$% 535.35 914.6E99*$ /9 '99*.'#& 9/.*'&# $%: .%$*+ <13!1= <61"!=

P./9'$+ $%: (%+* /# %00)'%()* .%$*+ 72346 35576T%: *99*$ /9 0*.%#*#$ '99*.*#*+ 12651 5!!1

P'"%& %a) )*$& $ I$/"! S%a%!$% 697.75 91.45

P*.%#*#$ '99*.*#*+ '# 2"11 >*.* &*#*.%$* %'#) ( $* 9'#* '0/+* ( R/%#'%# C/0*$'$'/#C/#') $/ OMV P*$./ SA %# $/ OMV P*$./ M%.;*$'#& SRL <N/$* 1!= %# ( $* '0%'.*#$ /9 $* )$; *:0)/.%$'/# )'*#+* '# %%;+$%# <N/$* 5=

45






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25. EARNINGS PER SHARE

C%))%$'/# /9 *%.#'#&+ 0*. +%.* '+ (%+* /# $* 9/))/>'#& %$%?

D/!' 31, D/!' 31,2011 2010

N*$ 0./9'$ %$$.'($%()* $/ /># +%.*/)*.+ 3,75675 2,2"122*'&$* %*.%&* #(*. /9 +%.*+ 56,643,!"3,55! 56,641,""!,185

Ea'$$>& *' &-a' 0.0443 0.0367

T* (%+' %# ')$* *%.#'#&+ 0*. +%.* %.* $* +%* %+ $*.* %.* #/ '#+$.*#$+ $%$ %* % ')$'**99*$ /# *%.#'#&+

A$ $* A##%) G*#*.%) M**$'#& *) /# A0.') 26, 2"11, $* +%.*/)*.+ /9 OMV P*$./ SA %00./*

$* '+$.'($'/# /9 ''*#+ 9/. $* 9'#%#'%) *%. 2"1" 9/. $* %/#$ /9 RON 1,""3 '))'/#, .*+)$'#& '#$/% ''*# 0*. +%.* /9 ""177 RON

26. SEGMENT INFORMATION

OMV P*$./ '+ /.&%#'* '#$/ 9/. /0*.%$'#& +*&*#$+? E:0)/.%$'/# %# P./$'/# <EP=, G%+ %#P/>*. %# R*9'#'#& %# M%.;*$'#& >')* P*$./ G./0 %#%&**#$, 9'#%#'#& %$''$'*+ %# *.$%'#+*.'* 9#$'/#+ %.* /#*#$.%$* '# $* C/.0/.%$* O$*. +*&*#$

P*$./ G./0’+ '#/)**#$ '# $* /') %# &%+ '#+$., ( '$+ #%$.*, *:0/+*+ '$ $/ *.$%'# .'+;+ T*+*'#)* 0/)'$'%) +$%(')'$, */#/' /#'$'/#+, %#&*+ '# )*&'+)%$'/# /. 9'+%) .*&'*+, %+ >*)) %+ /$*. /0*.%$'#& .'+;+ '#*.*#$ '# $* '#+$. + %+ $* '& /)%$')'$ /9 .* 0.'*+ %# US /))%. A %.'*$

/9 *%+.*+ %.* +* $/ %#%&* $*+* .'+;+

A0%.$ 9./ $* '#$*&.%$'/# /9 P*$./ G./0’+ 0+$.*% %# />#+$.*% /0*.%$'/#+, %# $* 0/)' /9 %'#$%'#'#& % (%)%#* 0/.$9/)'/ /9 %++*$+ '# $* EP +*&*#$, $* %'# '#+$.*#$+ +* %.* /0*.%$'/#%)'# #%$.* T*.* '+ % G./0->'* *#'./#*#$%) .'+; .*0/.$'#& ++$* '# /0*.%$'/#, *+'&#* $/ '*#$'9*:'+$'#& %# 0/$*#$'%) /()'&%$'/#+ %# $/ *#%()* $'*) %$'/# $/ (* $%;*# I#+.%#* %# $%:%$'/# %.* %)+/*%)$ >'$ /# % G./0->'* (%+'+

R*&)%. +.*+ %.* #*.$%;*# %./++ P*$./ G./0 $/ '*#$'9 ..*#$ )'$'&%$'/# %# 0*#'#& /.$ %#%'#'+$.%$'* 0./**'#&+

B+'#*++ *'+'/#+ /9 9#%*#$%) '0/.$%#* %.* %* ( $* E:*$'* B/%. /9 OMV P*$./ SAT* (+'#*++ +*&*#$+ %.* '#*0*#*#$) %#%&*, %+ *% .*0.*+*#$+ % +$.%$*&' #'$ >'$ '99*.*#$

0./$+ %# %.;*$+

EP %$''$'*+ %.* %'#) 9/+* /# R/%#'% %# %%;+$%# I# R/%#'%, OMV P*$./ SA '+ $*/#) .* /') 0./*. EP 0./$+ %.* .* /') %# #%$.%) &%+

Ga& (+'#*++ #'$ %+ $* /(J*$'* $/ 9/+ /# &%+ +%)*+ %# /# $* (*+$ +* /9 $* 0/$*#$'%) %#/00/.$#'$'*+ .*+)$'#& 9./ $* %.;*$ )'(*.%)'%$'/# B+'#*++ ''+'/# P"' '+ % #*>) *+$%()'+*(+'#*++ >'$ $* 0.0/+* /9 '*.+'9'#& $* %$''$ /9 OMV P*$./ SA '# $* R/%#'%# *#*.& +*$/.

RM 0./*+ %# *)'*.+ &%+/)'#*, '*+*) %# /$*. 0*$./)* 0./$+ $/ '$+ +$/*.+ R$$>''+'/# '#)*+ $>/ R/%#'%# .*9'#*.'*+, A.0*' %# P*$./(.%' I# M%. 2"11 OMV P*$./ SA%##/#* $* 0*.%#*#$ )/+.* /9 $* A.0*' .*9'#*. Ma';%$> ''+'/# *)'*.+ 0./$+ $/ (/$R*$%') %# /)*+%)*+ +$/*.+ %# /0*.%$*+ '# R/%#'%, B)&%.'%, S*.('% %# M/)/% OMV P*$./

SA '+ $* %'# 0)%*. /# $* R/%#'%# 9*)+ %.;*$

46






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26. SEGMENT INFORMATION (/"$%$#+

O*'a%$> &>!$%&

R$$> C"'*"'a% C"$&"+a%+

D/!' 31, 2011 EP Ga& P"' Ma';%$> O%-' T"%a C"$&"+a%"$ %"%a

I#$*.+*&*#$ +%)*+ 11,1721" 43624 161!6 576!1 12,395.21 (12,395.21 8

S%)*+ >'$ $'. 0%.$'*+ 57134 3,1!"68 18,7!516 5647 22,413.4 - 22,413.4

T"%a &a& 11,593.99 3,424.72 16,75.12 433.36 39,740.64 (12,395.21 22,413.4

EBIT ,234.32 196.69 (165.35 (56.76 ,116.62 (163.04 9,73.54

T/$%) %++*$+ 18,716"1 2,!3"!6 5,"7!"4 72!25 25,9.24 - 25,9.24I#*+$*#$+ '# PPE@IA 3,5751! 6114! 1,""31" 51"7 ,290.6 - ,290.6D*0.*'%$'/# %# %/.$'%$'/# 1,731"8 1716 475"3 1"452 2,325.57 - 2,325.57

I0%'.*#$ )/++*+ 41"14 - 8!31 2!7 02.92 - 02.92

I$"'!a%"$ a"#% >(">'a*-/a a'(a&CC"$&"+a%+

D/!' 31, 2011 R"!a$a R&% " CEE R&% " "'+ C"$&"+a%"$ %"%a

S%)*+ >'$ $'. 0%.$'*+ 17,41127 4,2!135 !11"3 - 22,61365T/$%) %++*$+ 25,"5"77 1,"3"37 1,37412 27,45526I#*+$*#$+ '# PPE@IA 5,"1"38 7447 156"" - 5,24"85

S%)*+ >'$ $'. 0%.$'*+ %* '# R*+$ /9 CEE '#)* +%)*+ %* '# B)&%.'% %/#$'#& $/ RON 2,!3!46 '))'/# '# 2"11 <2"1"? RON 2,373"8 '))'/#=

T* ;* 9'&.* /9 /0*.%$'#& 0*.9/.%#* 9/. P*$./ G./0 '+ *%.#'#&+ (*9/.* '#$*.*+$ %# $%: <EBIT= I# /0')'#& $* +*&*#$ .*+)$+, (+'#*++ %$''$'*+ >'$+'')%. %.%$*.'+$'+ %* (**# %&&.*&%$* I#$.%-G./0 +%)*+ %# /+$ %))/%$'/#+ ( $* 0%.*#$ /0%# %.* *$*.'#* '# %/.%#* >'$ '#$*.#%) &./00/)''*+ M%#%&**#$ '+ /9 $* /0'#'/# $%$ $* $.%#+9*. 0.'*+ /9 &//+ %# +*.'*+ *:%#&* (*$>**# +*&*#$+ /..*+0/# $/ %.;*$ 0.'*+

= I#$%#&'()* %++*$+ <IA=, 0./0*.$, 0)%#$ %# *'0*#$ <PPE== S%)*+ %.* %))/%$* 0*. /#$.'*+@.*&'/#+ (%+* /# $* )/%$'/# >*.* $* .'+;+ %# (*#*9'$+ %.* $.%#+9*..* $/ $* +$/*.

47






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

26. SEGMENT INFORMATION (/"$%$#+

O*'a%$> &>!$%&

R$$> C"'*"'a% C"$&"+a%+

D/!' 31, 2010 EP Ga& P"' Ma';%$> O%-' T"%a C"$&"+a%"$ %"%a

I#$*.+*&*#$ +%)*+ 8,86174 1856! 12631 4857" 7,47.99 (7,47.99 8

S%)*+ >'$ $'. 0%.$'*+ 67266 2,87!68 15,"5"18 1317 16,41.47 - 16,41.47

T"%a &a& 7,39.90 3,04.35 1,154.97 976.65 26,25.13 (7,47.99 16,41.47

EBIT 3,012.12 143.6 104.30 (13.96 3,194.57 (141.26 2,76.1

T/$%) %++*$+ 17,6"4!1 2,"1625 4,657"6 86842 2,194.49 - 2,194.49I#*+$*#$+ '# PPE@IA 3,"215" 1,2"7!8 782"2 15433 ,14.63 - ,14.63D*0.*'%$'/# %# %/.$'%$'/# 1,57""8 554 433!4 12"66 2,130.22 - 2,130.22

I0%'.*#$ )/++*+ 52"7! 163 15345 553 461.90 - 461.90

I$"'!a%"$ a"#% >">'a*-/a a'a&C"$&"+a%+

D/!' 31, 2010 R"!a$a R&% " CEE R&% " "'+ C"$&"+a%"$ %"%a

S%)*+ >'$ $'. 0%.$'*+ 14,48418 3,5"764 62387 - 18,6156!T/$%) %++*$+ 22,5!748 1,""!58 1,53!5! - 25,14664I#*+$*#$+ '# PPE@IA 4,7!816 653! 3"228 - 5,16583

= I#$%#&'()* %++*$+ <IA=, 0./0*.$, 0)%#$ %# *'0*#$ <PPE== S%)*+ %.* %))/%$* 0*. /#$.'*+@.*&'/#+ (%+* /# $* )/%$'/# >*.* $* .'+;+ %# (*#*9'$+ %.* $.%#+9*..* $/ $* +$/*.

48






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

27. AVERAGE NUMBER OF EMPLOYEES

D/!' 31, D/!' 31,2011 2010

T"%a P%'"! G'"#* 23,707 24,516$*.*/9?

OMV P*$./ SA 22,"37 25,"58O$*. +(+''%.'*+ 1,872 1,66"

N/$*? T* #(*. /9 *0)/**+ >%+ %))%$* %+ %*.%&* *%/#$ /9 12 /#$+ #(*. /9*0)/**+

28. RELATED PARTIES

U#*. IAS 24, *$%')+ /9 .*)%$'/#+'0+ >'$ .*)%$* 0%.$'*+ #/$ '#)* '# /#+/)'%$'/# +$ (* '+)/+*E#$*.0.'+*+ %# '#''%)+ %.* /#+'*.* $/ (* .*)%$* '9 /#* 0%.$ '+ %()* $/ /#$./) /. *:*.'+*

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

D.'#& 2"11, P*$./ G./0 % $* 9/))/>'#& $.%#+%$'/#+ >'$ .*)%$* 0%.$'*+ <'#)'#& (%)%#*+ %+ /9 D**(*. 31, 2"11=?

Baa$/&

Na%#' " %'a$&a/%"$ P#'/-a&& *a=a

OMV P%'"! S.A. 8 !"%-' /"!*a$=

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

T"%a OMV P%'"! S.A. 1,201.44 59.20

4!








(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

28. RELATED PARTIES (/"$%$#+Baa$/&

Na%#' " %'a$&a/%"$ R?$#& '/?a

OMV H.%$+;% // S%)*+ /9 0*$./)* 0./$+ "15 -

L'#*. A&./$.%* R/%#'% S%)*+ /9 *'%)+ 0./$+ "12 -OMV F'#%#* L''$* F'#%#'%), IT %# /$*. +*.'*+ ""1 -OMV BH // S%)*+ /9 0*$./)* 0./$+ ""7 -OMV S)/*#+;/ +./ S%)*+ /9 0*$./)* 0./$+ ""1 -OMV P/>*. I#$*.#%$'/#%) G(H D*)*&%$'/# /9 0*.+/##*) %# /$*. ""3 ""3T.%#+ G%+ LPG S*.'*+ SRL V%.'/+ +*.'*+ ""7 -

T"%a &#&+a'& 37.26 11.11

T"%a P%'"! G'"#* 1,960.56 52.09

D.'#& 2"1", P*$./ G./0 % $* 9/))/>'#& $.%#+%$'/#+ >'$ .*)%$* 0%.$'*+ <'#)'#& (%)%#*+ %+ /9

D**(*. 31, 2"1"=?Baa$/&

Na%#' " %- %'a$&a/%"$ P#'/-a&& *a=a

OMV P%'"! S.A. 8 !"%-' /"!*a$=

OMV D*$+)%# G(H A'+'$'/# /9 0*$./)* 0./$+ 546 -OMV G%+ G(H D*)*&%$'/# /9 0*.+/##*) %# /$*. "5! ""4OMV E:0)/.%$'/# P./$'/# D*)*&%$'/# /9 0*.+/##*) %# /$*. 3531 14"6G(HOMV G%+ P/>*. G(H D*)*&%$'/# /9 0*.+/##*) %# /$*. 1!4 ""3OMV H#&W.'% X+W#/)%J /.)W$/)$ A'+'$'/# /9 0*$./)* 0./$+ 2"" "71F*)*)++&Z TW.+%+W&

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

T"%a OMV P%'"! S.A. 750.16 191.40

P%'"! G'"#* &#&+a'&OMV - I#$*.#%$'/#%) S*.'*+ O$*. +*.'*+ 758 4361G*+(HOMV E:0)/.%$'/# P./$'/# D*)*&%$'/# /9 0*.+/##*) %# /$*. 34! 32!G(HOMV H#&W.'% X+W#/)%J /.)W$/)$ A'+'$'/# /9 0*$./)* 0./$+ 17!4 ""4F*)*)++&Z TW.+%+W&OMV R*9'#'#& M%.;*$'#& G(H A'+'$'/# /9 0*$./)* 0./$+ 716" 1664OMV S/)$'/#+ G(H D*)*&%$'/# /9 0*.+/##*) %# /$*. 154" 632

OMV P/>*. I#$*.#%$'/#%) G(H D*)*&%$'/# /9 0*.+/##*) %# /$*. 153 152

51






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28. RELATED PARTIES (/"$%$#+Baa$/&

Na%#' " %- %'a$&a/%"$ P#'/-a&& *a=a

C/#&% SA V%.'/+ +*.'*+ "15 -

OMV A;$'*#&*+*))+%9$ D*)*&%$'/# /9 0*.+/##*) %# /$*. ""2 -P*$./ N%)% SRL V%.'/+ +*.'*+ "11 -OMV H.%$+;% // A'+'$'/# /9 0*$./)* 0./$+ ""3 ""2E/#G%+ H#&W.'% A'+'$'/# /9 &%+ 6184 1177F)&W;*.*+;**)' 9$P*$./) O9'+' A[ A'+'$'/# /9 0*$./)* 0./$+ 115 115T.%#+ G%+ S*.'*+ SRL V%.'/+ +*.'*+ "71 -

T"%a &#&+a'& 161. 69.34

T"%a P%'"! G'"#* 1,11.53 22.74

Baa$/&

Na%#' " %- %'a$&a/%"$ R?$#& '/?a

OMV P%'"! S.A. 8 !"%-' /"!*a$=

OMV D*$+)%# G(H S%)*+ /9 0./0)*#* 22464 3176OMV R*9'#'#& M%.;*$'#& G(H D*)*&%$'/# /9 0*.+/##*) %# /$*. 4352 -OMV S00) T.%'#& AG S%)*+ /9 0*$./)* 0./$+ 61"25 6222OMV S/)$'/#+ G(H F'#%#'%), IT %# /$*. +*.'*+ 1328 44!B/.*%)'+ AG V%.'/+ +*.'*+ ""6 -P*$./) O9'+' A[ S%)*+ /9 0*$./)* 0./$+ "16 -P*$./ N%)% SRL S%)*+ /9 0*$./)* 0./$+ ""1 -OMV F'#%#* L''$* F'#%#'%), IT %# /$*. +*.'*+ "12 "14

T.%#+ G%+ S*.'*+ SRL V%.'/+ +*.'*+ ""1 -

T"%a OMV P%'"! S.A. 672.0 76.41

P%'"! G'"#* &#&+a'&OMV - I#$*.#%$'/#%) S*.'*+ O$*. +*.'*+ 5428 2"52G*+(HOMV BH // S%)*+ /9 0*$./)* 0./$+ "51 -OMV H.%$+;% // S%)*+ /9 0*$./)* 0./$+ 1"3 ""4OMV R*9'#'#& M%.;*$'#& G(H D*)*&%$'/# /9 0*.+/##*) %# /$*. 422 "42OMV S)/*#'J% $.&/'#% #%9$/ '# S%)*+ /9 0*$./)* 0./$+ "27 -#%9$#'' *.'%$', //

OMV S)/*#+;/ +./ S%)*+ /9 0*$./)* 0./$+ "27 ""2OMV S/)$'/#+ G(H F'#%#'%), IT %# /$*. +*.'*+ "27 ""6B/.*%)'+ AG S%)*+ /9 0*$./)* 0./$+ ""2 -T.%#+ G%+ S*.'*+ SRL S%)*+ /9 0*$./)* 0./$+ ""8 ""2

T"%a &#&+a'& 40.7 21.06

T"%a P%'"! G'"#* 73.00 117.47

Ultimate parent

A+ '+)/+* '# N/$* 1, OMV P*$./ SA’+ %J/. +%.*/)*. '+ OMV A;$'*#&*+*))+%9$, (*'#& $*

)$'%$* 0%.*#$ /9 $* G./0 %# '$ '+ (%+* '# A+$.'% T* %J/.'$ /9 OMV A;$'*#&*+*))+%9$ +%.*+ %.**) ( +$*..*''+* I#+$.'*/)'#& AG <IAG 315= %# I#$*.#%$'/#%) P*$./)* I#*+$*#$C/0%# <IPIC, A( D%(' 24!=

52






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

28. RELATED PARTIES (/"$%$#+

Key management remuneration

E% *(*. /9 $* S0*.'+/. B/%. '+ *#$'$)* $/ .**'* % #*$ %/#$ /9 EUR 2",""" 0*. *%. %+.*#*.%$'/# 9/. '$+ +*.'* 9/. $* *%. *#* D**(*. 31, 2"11

A$ D**(*. 31, 2"11 $*.* %.* #/ )/%#+ /. %%#*+ &.%#$* ( $* G./0 $/ $* *(*.+ /9 $*S0*.'+/. B/%.

A$ %$ D**(*. 31, 2"11, $* G./0 /*+ #/$ %* %# /()'&%$'/#+ .*&%.'#& 0*#+'/# 0%*#$+ $/ 9/.*. *(*.+ /9 $* S0*.'+/. B/%.

29. DIRECT AND INDIRECT INVESTMENTS OF PETROM GROUP WITH AN INTEREST OF AT LEAST

20 AS OF DECEMBER 31, 2011

S-a'$%'&% C"$&"+a%"$ C"#$%'= "

C"!*a$= Na! *'/$%a> %'a%!$% A/%?%= $/"'*"'a%"$

S#&+a'& (0

TASBULAT OIL CORPORATIONLLP 1""""OMV PETROM IND POER

SRL 1 !!!!

ORNED LLP 1""""OMV PETROM GAS SRL !!!!ICS PETROM MOLDOVA SA 1""""PETROMED SOLUTIONS SRL !!!!PETROM DISTRIBUTIE GAESRL !!!!PETROM LPG SA !!!!OMV BULGARIA OOD !!!"OMV PETROM MARETINGSRL 1""""OMV SRBIA DOO !!!"TASBULAT OIL CORPORATIONBVI 1""""PETROM NADLAC SRL !851

PETROM AVIATION SA

2

!!!!OM MUNAI LLP !5""

PETROCHEMICALS ARGESSRL !5""TRANS GAS LPG SERVICESSRL 8"""PETROM E\PLORATION PRODUCTION LIMITED 5"""



O') *:0)/.%$'/# %#FC .'))'#& '# %%;+$%# %%;+$%#

E/)'%# 0/>*. FC 0./$'/# R/%#'%

O') *:0)/.%$'/# %#FC .'))'#& '# %%;+$%# %%;+$%#FC G%+ '+$.'($'/# R/%#'%FC F*) '+$.'($'/# M/)/%FC M*'%) +*.'*+ R/%#'%

FC G%+ '+$.'($'/# R/%#'%FC LPG '+$.'($'/# R/%#'%FC F*) '+$.'($'/# B)&%.'%

FC F*) '+$.'($'/# R/%#'%FC F*) '+$.'($'/# S*.('%

B.'$'+ V'.&'#NC H/)'#& /0%# I+)%#+NC F*) '+$.'($'/# R/%#'%FC A'.0/.$ +*.'*+ R/%#'%

O') *:0)/.%$'/# %#FC .'))'#& '# %%;+$%# %%;+$%#

R*9'#'#&

0*$./*'%)+NC 0./$'/# R/%#'%

LPG $.%#+0/.$%$'/#NC .*)%$* +*.'*+ R/%#'%

E:0)/.%$'/# %#FC 0./$'/# +*.'*+ I+)* /9 M%#

1 '# P/>*. P%.; SRL %#&* '$+ #%*'#$/ OMVP*$./

'# P/>*. SRL %+ /9

N/*(*. 7, 2"112 A+ /9 D**(*. 1, 2"11, $* %$''$'*+

/9 A'%$'/# P*$./)* SRL >*.**.&* '#$/ P*$./ A'%$'/# SA

53





S.C. PETROM S.A. AND SUBSIDIARIES



(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

30. CASH FLOW STATEMENT INFORMATION

a D'a$>& a$+ '*a=!$%& " "''"$>&

D.'#& 2"11 OMV P*$./ SA %+ .*0%' (/../>'#&+ %/#$'#& $/ RON 2,632!7 '))'/# %# %+ .%>#(/../>'#&+ %/#$'#& $/ RON 1,43374 '))'/# <2"1"? .*0%' (/../>'#&+ %/#$'#& $/ RON 2,2844!'))'/# %# %+ .%># (/../>'#&+ %/#$'#& $/ RON 3,116!2 '))'/#=

A/<#&%"$ " &#&+a'&

D.'#& $* *%. *#* D**(*. 31, 2"1", P*$./ G./0 %'.* !!!! /9 +%.*+ /9 OMV P*$./'# P/>*. SRL, % /0%# (%+* '# R/%#'% $%$ %+ %+ /(J*$ /9 %$''$ $* 0./$'/# /9 */)'%#0/>*. T'+ $.%#+%$'/# %+ (**# %/#$* 9/. %+ % (+'#*++ /('#%$'/# '# %/.%#* >'$ IFRS 3

D.'#& 2"11, P*$./ G./0 ' #/$ %'.* %# /0%#

N*$ %++*$+ /9 %'.* +(+''%.'*+ %# (+'#*++*+ %$ $* %$* /9 %'+'$'/# >*.* %+ 9/))/>+?

D/!' 31, D/!' 31,

2011 2010

I#$%#&'()* %++*$+ - 3!38P./0*.$, 0)%#$ %# *'0*#$ - 126!T.%* %# /$*. .**'%()*+ - "54T.%* %# /$*. )'%(')'$'*+ - <1131=D*9*..* $%: )'%(')'$, #*$ - <644=

S-a' " $% a&&%& a% %- a/<#&%"$ +a% 8 39.64

G//>')) %.'+'#& /# %'+'$'/# - "56

T/$%) /#+'*.%$'/# $.%#+9*..* - 3542- $*.*/9 0%' #$') *# /9 $* *%. - 3542

C/#+'*.%$'/# 0%' /# %'+'$'/# /9 +(+''%.'*+ .'#& $* *%. - 3542

P%*#$+ /9 %+ 9/. +(+''%.'*+ 0.*'/+) /#+/)'%$* 32!!

Ca&- #&+ "$ a/<#&%"$ $% " /a&- a/<#'+ 8 46.91

/ D&*"&a " &#&+a'&

D.'#& A&+$ 2"1", P*$./ G./0 '+0/+* R'#& O') H/)'#& T.%'#& L$ %# '$+ +(+''%.'*+ <LLCM%#%&**#$ C/0%# C/.+%.#*9$, LLC A.$%'.%, OSC C%);#*9$, OSC %.#*9$, O') C/0%# R*#%$%LLC, LLC N*9$*0/'+;, CSC S%.%$/#*9$*/(%=

D.'#& 2"11, P*$./ G./0 ' #/$ '+0/+* %# /0%#

N*$ %++*$+ /9 '+0/+* +(+''%.'*+ %$ $* %$* /9 '+0/+%) >*.* %+ 9/))/>+?

55






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

30. CASH FLOW STATEMENT INFORMATION (/"$%$#+

D/!' 31, D/!' 31,

2011 2010

M'#*.%) '#$*.*+$+ #0./* .*+*.*+ %# /$*. '#$%#&'()*+ - 77"7P./0*.$, 0)%#$ %# *'0*#$ - 237I#*+$*#$+ - 23726I#*#$/.'*+ - "!2T.%* %# /$*. .**'%()*+ - 53"C%+ %# %+ *'%)*#$+ - 1328D*9*..* $%: )'%(')'$, #*$ - <7!1=P./'+'/#+ 9/. */'++'/#'#& %# .*+$/.%$'/# /()'&%$'/#+ - <"!8=L/%#+ 0%%()* - <21!2=T.%* %# /$*. )'%(')'$'*+ - <211=

L*++ /+$ /9 '#*+$*#$ '# '#'.*$ /)'#&+ - <23726=

N% a&&%& +&*"&+ " 8 44.02

Ga$ "$ +&*"&a " &#&+a'&D/!' 31, D/!' 31,

2011 2010

C/#+'*.%$'/# $/ (* .**'* - 52"4N*$ %++*$+ '+0/+* /99 - <66"2=N/#-/#$./))'#& '#$*.*+$+ - 1657C)%$'* *:%#&* '99*.*#*+ '# .*+0*$ /9 $* #*$ %++*$+/9 $* +(+''%.'*+ .*)%++'9'* 9./ *'$ /# )/++ /9 /#$./)

/9 +(+''%.'*+ - 2831Ga$ "$ +&*"&a " &#&+a'& 8 30.70

N% /a&- " "$ +&*"&a " &#&+a'&D/!' 31, D/!' 31,

2011 2010

N*$ /#+'*.%$'/# .**'* '# %+ %# %+ *'%)*#$+ 4!"2 635L*++ %+ %# %+ *'%)*#$+ (%)%#*+ '+0/+* /99 - <1328=

N% /a&- $" ("#%" "$ +&*"&a " &#&+a'& 97.02 (4.73

I# %'$'/# $/ $* /#+'*.%$'/# %(/*, .'#& 2"11 R'#& O') H/)'#& T.%'#& L$ .*'(.+* $/ P*$./G./0 % )/%# '# %/#$ /9 RON 1"23 '))'/#, $*.*9/.* $* $/$%) %+ '#9)/> /# '+0/+%) /9 +(+''%.'*+.'#& 2"11 %/#$* $/ RON 5!25 '))'/#

+ E)*"'a%"$ /a&-8"&

T* %/#$ /9 %+ /$9)/>+ '# .*)%$'/# $/ *:0)/.%$'/# %$''$'*+ '#..* ( P*$./ G./0 9/. $* *%. *#* D**(*. 31, 2"11 '+ /9 RON 4!571 '))'/# <2"1"? RON 28827 '))'/#=, /$ /9 >' $* %/#$/9 RON 1"875 '))'/# '+ .*)%$* $/ /0*.%$'#& %$''$'*+ <2"1"? RON 8!8"= %# $* %/#$ /9 RON 386!6'))'/# .*0.*+*#$+ %+ /$9)/>+ 9/. *:0)/.%$'/# '#*+$'#& %$''$'*+ <2"1"? RON 1!847 '))'/#=

56






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

31. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES

E+$'%$*+ /9 9%'. %)* %$ *%. *# %$*, '+++* (*)/>, %.* #/.%)) (%+* /# $* %.;*$ '#9/.%$'/#%%')%()* T* 9%'. %)* /9 /$*. 9'#%#'%) %++*$+ %# +*.'$'*+ %# '#*+$*#$+ '+ %))%$* 0.'%.') /#

$* (%+'+ /9 /$* %.;*$ 0.'*+ *.* #/ /$* 0.'* %# #/ 0.*+*#$ %)* %# (* *+$%()'+*, $**$*.'#%$'/# /9 % 9%'. %)* '+ #/$ 9*%+'()*

T* (//; %)*+ /9 %/#$+ .**'%()* %# /$*. %++*$+ %# %+ '# %#, *;+ %# %+ %$ (%#; %.*.*%+/#%()* *+$'%$*+ /9 $*'. 9%'. %)*+, %+ $* %++*$+ '# *+$'/# &*#*.%)) %* %$.'$'*+ /9 )*++ $%#/#* *%.

T* 9%'. %)* /9 9'#%#'%) )'%(')'$'*+, 9/. >' %.;*$ 0.'*+ %.* #/$ %%')%()*, >%+ *+$%()'+* ('+/#$'#& 9$.* %+ 9)/>+ +'#& $* '#$*.*+$ .%$*+ 0.*%')'#& %$ *%. *# %$* 9/. +'')%. )'%(')'$'*+ >'$)';* %$.'$'*+

T* %..'#& %)*+ /9 $%: 0./'+'/#+ %# /$*. ..*#$ 0./'+'/#+ '+ $* +%* %+ $*'. 9%'. %)* T* 9%'. %)* /9 #/#-..*#$ 0./'+'/#+ '+ #/$ /#+'*.* $/ '99*. %$*.'%)) 9./ $*'. %..'#& %)*

T* %..'#& %)* /9 /$*. )'%(')'$'*+ '+ *99*$'*) $* +%* %+ $*'. 9%'. %)*, (*%+* $* %.*0.*/'#%#$) +/.$-$*. T* 9%'. %)* /9 *.'%$'* 9'#%#'%) '#+$.*#$+ /..*+0/#+ $/ $*'. %.;*$%)*

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

Fa' ?a# -'a'/-= a& a% D/!' 31, 2011

F$a$/a $&%'#!$%& "$ a%= &+

D*.'%$'*+ *+'&#%$* %# *99*$'* %+ *&'#&'#+$.*#$+O$*. *.'%$'*+

T"%a



L? 1 L? 2 L? 3 T"%a

!43 14263 - 12.04

<""5= - - (0.0

7.36 192.43 8 12.01

A+ %$ D**(*. 31, 2"1" $*.*

%.* #/ (%)%#*+ '# .*)%$'/# $/*.'%$'* 9'#%#'%) '#+$.*#$+

32. C

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M

I

T

M

E

N

T

S

A

N

D

C

O

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A+ %$ D**(*. 31, 2"11 $*$/$%) /'$*#$+ *#&%&* (P*$./ G./0 9/. '#*+$*#$+'+ /9 1,32357 '))'/#<D**(*. 31, 2"1"? RON1,81686 '))'/#=, /$ /9 >'RON 1,25"16 '))'/# .*)%$* $/0./0*.$, 0)%#$ %# *'0*#$<D**(*. 31, 2"1"? RON1,76767 '))'/#= %# RON7341 '))'/# 9/. '#$%#&'()*%++*$+ <D**(*. 31, 2"1"?RON 4!1! '))'/#=

O%-' /"$%$>$/&

C%+ %# (%#; %/#$+ %+ %$D**(*. 31, 2"11 '#)* %#%/#$ /9 RON 1"2!8 '))'/#.*0.*+*#$'#& %+ .*+$.'$*,%'#) '# .*)%$'/# >'$ +**.%))'$'&%$'/# %+*+ <D**(*. 31,2"1"? RON 14"3" '))'/#=

57






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

32. COMMITMENTS AND CONTINGENCIES (/"$%$#+

L%>a%"$&

P*$./ G./0 0./'*+ 9/. )'$'&%$'/#+ $%$ %.* )';*) $/ .*+)$ '# /()'&%$'/#+ M%#%&**#$ '+ /9 $* /0'#'/#$%$ )'$'&%$'/#+, $/ $* *:$*#$ #/$ /*.* ( 0./'+'/#+ /. '#+.%#*, >')) #/$ %$*.'%)) %99*$ P*$./G./0’+ 9'#%#'%) 0/+'$'/# T* 0./$'/# 9%')'$'*+ %# 0./0*.$'*+ /9 %)) G./0 /0%#'*+ %.* +(J*$ $/ %%.'*$ /9 *#'./#*#$%) 0./$*$'/# )%>+ %# .*&)%$'/#+ '# $* /#$.'*+ >*.* $* /0*.%$* 0./'+'/#+%.* %* 9/. 0./(%()* /()'&%$'/#+ %.'+'#& 9./ *#'./#*#$%) 0./$*$'/# *%+.*+ T* %#%&**#$(*)'**+ $%$ /0)'%#* >'$ ..*#$ )%>+ %# .*&)%$'/#+, %# 9$.* /.* +$.'#&*#$ )%>+ %#.*&)%$'/#+, >')) #/$ %* % %$*.'%) #*&%$'* '0%$ /# /#+/)'%$* .*+)$+

C"$%$>$% a%&

P*$./ G./0 %+ /#$'#&*#$ )'%(')'$'*+ .*0.*+*#$'#& 0*.9/.%#* &%.%#$**+ '# %/#$ /9 RON 1!76'))'/# %+ %$ D**(*. 31, 2"11 <D**(*. 31, 2"1"? RON 1"46 '))'/#=

33. INTERESTS IN OINT VENTURES

OMV P*$./ SA *#$*.* '#$/ % 9%./$ %..%#&**#$ >'$ E::/#M/(') E:0)/.%$'/# %# P./$'/#R/%#'% L''$* >'$ $* 0.0/+* $/ *:0)/.* %# **)/0 $* N*0$# D**0>%$*. ()/; '# B)%; S*% %#%+ % 0%.$''0%$'#& '#$*.*+$ /9 5" S$%.$'#& A&+$ 2"11, E::/#M/(') %+ (**# %00/'#$* %+ /0*.%$/. <0.*'/+) OMV P*$./ SA >%+ /0*.%$/.=

OMV P*$./ SA *#$*.* '#$/ % 9%./$ %..%#&**#$ >'$ H#$ O') C/0%# /9 R/%#'% SRL >'$ $*0.0/+* $/ *:0)/.* %# **)/0 AJ %# U.'*#' E%+$ /#+/.* ()/;+ %# %+ % 0%.$''0%$'#& '#$*.*+$/9 5" OMV P*$./ SA %+ (**# %00/'#$* %+ /0*.%$/.

/'#$ %$''$'*+ *+.'(* %(/* %.* )%++'9'* %+ J/'#$) /#$./))* %++*$ %/.'#& >'$ IAS 31

OMV P*$./’+ +%.* /9 $* %&&.*&%$* %0'$%) /'$*#$+ 9/. $* $>/ J/'#$ *#$.*+ %+ %$ D**(*. 31,2"11 '+ %/#$'#& RON 3!"" '))'/# T*+* /'$*#$+ / #/$ '#)* /'$*#$+ .*)%$'#& $/ $**:$*#+'/#+ $%$ %.* /0$'/#%) %9$*. N/*(*. !, 2"13

34. RIS MANAGEMENT

Ca*%a '&; !a$a>!$%

P*$./ G./0 /#$'#/+) %#%&*+ '$+ %0'$%) %*% $/ *#+.* $%$ '$+ *#$'$'*+ >')) (* /0$'%))

%0'$%)'* '# (%)%#* >'$ $*'. .'+;+ *:0/+.* '# /.*. $/ %:''* $* .*$.# $/ +$%;*/)*.+ T*%0'$%) +$.$.* /9 P*$./ G./0 /#+'+$+ /9 *'$ %$$.'($%()* $/ *'$ /)*.+ /9 $* 0%.*#$</0.'+'#& '++* %0'$%), .*+*.*+ %# .**#* .*+*.*+ %+ '+)/+* '# $* C/#+/)'%$* S$%$**#$ /9 C%#&*+ '# E'$= %# *($ <>' '#)*+ $* +/.$ %# )/#& $*. (/../>'#&+ '+)/+* '# N/$* 14,%+ %# %+ *'%)*#$+= C%0'$%) .'+; %#%&**#$ %$ P*$./ G./0 '+ 0%.$ /9 $* %)* %#%&**#$%# '$ '+ (%+* /# 0*.%#*#$ .*'*> /9 $* &*%.'#& .%$'/ /9 $* &./0

T* &*%.'#& .%$'/ /9 P*$./ G./0 %))%$* %+ #*$ *($@<*'$=1"" >%+ ! %+ %$ D**(*. 31, 2"11<D**(*. 31, 2"1"? 12= +/>'#& % *.*%+'#& *:0/+.* $/ )**.%&* .'+; N*$ *($ '+ %))%$* %+'#$*.*+$-(*%.'#& *($+ '#)'#& 9'#%#'%) )*%+* )'%(')'$, )*++ %+ %# %+ *'%)*#$+

P*$./ G./0’+ %#%&**#$ .*'*>+ $* %0'$%) +$.$.* %+ >*)) %+ &./0 .'+; .*0/.$+ .*&)%.) A+ 0%.$

/9 $'+ .*'*>, $* /+$ /9 %0'$%) %# $* .'+;+ %++/'%$* >'$ *% )%++ /9 %0'$%) %.* (*'#& /#+'*.*

58






(a a!"#$%& a' )*'&&+ $ !"$ RON, #$&& "%-'& &*/+

34. RIS MANAGEMENT (/"$%$#+

S>$/a$% a//"#$%$> *"/&

D*$%')+ /9 $* +'&#'9'%#$ %/#$'#& 0/)''*+ %# *$/+ %/0$*, '#)'#& $* .'$*.'% 9/. .*/&#'$'/#,$* (%+'+ /9 *%+.**#$ %# $* (%+'+ /# >' '#/* %# *:0*#+*+ %.* .*/&#'*, '# .*+0*$ /9 *% )%++ /9 9'#%#'%) %++*$, 9'#%#'%) )'%(')'$ %# *'$ '#+$.*#$ %.* '+)/+* '# N/$* 3 $/ $*9'#%#'%) +$%$**#$+

F$a$/a '&; !a$a>!$% "/%?& a$+ *"/&

P*$./ G./0 /*+ #/$ *#$*. '#$/ /. $.%* 9'#%#'%) '#+$.*#$+ 9/. +0*)%$'* 0.0/+*+ T* R'+;M%#%&**#$ 9#$'/# .*0/.$+ $>'* 0*. *%. $/ P*$./ G./0’+ E:*$'* B/%. %# S0*.'+/. B/%.’+ A'$ C/'$$**, $%$ /#'$/.+ %)) .'+;+ %# 0/)''*+ '0)**#$* $/ '$'&%$* P*$./ G./0’+ .'+;*:0/+.*+

R&; )*"&#'& a$+ '&*"$&&

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T* R'+; M%#%&**#$ 9#$'/# /#'$/.+ %# %#%&*+ %)) .'+;+ /9 P*$./ G./0 /0%#'*+ $./& %#'#$*&.%$* 0./*++ '# )'#* >'$ ISO 31""", ( '#$*.#%) .'+; .*0/.$+ %# .*&)%. %++*++*#$+ >' %#%)*%)) .'+; *:0/+.*+ %# $*'. %+ 9)/> %&#'$* '# /0%.'+/# >'$ $* .'+; %00*$'$*

A+'* $* (+'#*++ /0*.%$'/#%) %# +$.%$*&' %$*&/. /9 *:0/+.*+, $* %.;*$ 9'#%#'%) .'+; %$*&/.0)%+ %# '0/.$%#$ ./)* '# P*$./ G./0’+ .'+; 0./9')* %# '+ %#%&* >'$ +0*'%) ')'&*#* %.;*$ 9'#%#'%) .'+; '#)*+, %/#& /$*.+, 9/.*'&# *:%#&* .'+;, '#$*.*+$ .%$* .'+;, /#$*.0%.$ .*'$ .'+;,

//'$ %.;*$ 0.'* .'+; %# )'''$ .'+;

T* /(J*$'* /9 P*$./ G./0’+ R'+; M%#%&**#$ 9#$'/# '+ $/ +*.* 0/+'$'* */#/' %)* %*9/. *' $*. $'* /.'/# ( %#%&'#& $* /0%#’+ /#+/)'%$* %+ 9)/> *:0/+.* (*)/> $* .'+;%00*$'$* H'& 0/$*#$'%) +'#&)* **#$ .'+;+ %.* /#'$/.* '#''%))

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Documents

Omv Financial Statements