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37 Segment information

The business segments in which Snam operates have been identified on the basis of the criteria adopted for the preparation of operational reporting by senior management when taking business decisions. The business segments identified are transportation, LNG regasification, and natural gas distribution and storage, and they are attributable to the activities carried out, predominantly, by Snam Rete Gas, GNL Italia, Stogit and Italgas, respectively.

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(€ million)

Corporate

Transpor­tation and dispa­tching

Distri­bution

Storage

Ragasi­fication

Conso­lidation adjust­ments

Adjusted non-allocable assets and liabilities

Total

(a)

Before elimination of intra-segment revenue.

2012

 

 

 

 

 

 

 

 

Net core business revenue (a)

184

1,916

1,434

401

34

 

 

3,969

Less: inter-segment revenue

(173)

(10)

(1)

(44)

(11)

 

 

(239)

Revenue from third parties

11

1,906

1,433

357

23

 

 

3,730

Other revenue and income

 

142

74

1

1

(2)

 

216

Net accrual to provisions for risks and charges

 

36

16

2

 

 

 

54

Amortisation, depreciation and impairment losses

(2)

(449)

(187)

(63)

(5)

 

 

(706)

EBIT

6

1,135

626

270

5

69

 

2,111

Equity method valuation effect

1

 

54

 

 

 

 

55

Directly attributable current assets

67

1,085

558

756

14

 

 

2,480

Directly attributable non-current assets

209

12,093

4,390

3,301

88

 

 

20,081

of which:

 

 

 

 

 

 

 

 

- Equity-accounted investments

134

 

339

 

 

 

 

473

Directly attributable current liabilities

585

3,190

1,098

1,065

19

 

(3,573)

2,384

Directly attributable non-current liabilities

11,973

6,885

1,964

2,049

17

 

(8,618)

14,270

Capital expenditure

7

700

359

233

3

(2)

 

1,300

2013

 

 

 

 

 

 

 

 

Net core business revenue (a)

182

2,003

1,315

487

31

 

 

4,018

Less: inter-segment revenue

(170)

(17)

(1)

(86)

(9)

 

 

(283)

Revenue from third parties

12

1,986

1,314

401

22

 

 

3,735

Other revenue and income

1

70

40

2

 

 

 

113

Net accrual to provisions for risks and charges

 

(12)

16

 

 

 

 

4

Amortisation, depreciation and impairment losses

(3)

(483)

(214)

(64)

(5)

 

 

(769)

EBIT

(8)

1,217

505

315

5

 

 

2,034

Equity method valuation effect

(15)

 

60

 

 

 

 

45

Directly attributable current assets

73

1,305

517

813

10

 

 

2,718

Directly attributable non-current assets

734

12,334

4,483

3,456

88

 

 

21,095

of which:

 

 

 

 

 

 

 

 

- Equity-accounted investments

689

 

335

 

 

 

 

1,024

Directly attributable current liabilities

2,440

2,460

767

768

15

 

(2,072)

4,378

Directly attributable non-current liabilities

11,119

7,698

1,899

2,373

14

 

(9,639)

13,464

Capital expenditure

7

672

358

251

5

(3)

 

1,290

Revenue is generated by applying regulated tariffs or market conditions. Revenue of the Company is generated entirely in Italy; costs are incurred almost entirely in Italy.

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