32 Information by business segment
The information about business segments has been prepared in accordance with the provisions of IFRS 8 – “Operating segments”, which requires the information to be presented in a manner consistent with the procedures adopted by the Company’s management when taking operational decisions. Consequently, the identification of the operating segments and the information presented are defined on the basis of the internal reporting used by the Company’s management for allocating resources to the different segments and for analysing the respective performances.
The business segments for which information is provided are natural gas transportation (“Transportation”), LNG regasification (“Regasification”), natural gas storage (“Storage”), and natural gas distribution (“Distribution”). They relate to activities carried out predominantly by Snam Rete Gas, GNL Italia, Stogit and Italgas, respectively.
The information by business segment as at 31 December 2014 is listed below, compared with the figures as at 31 December 2013.
| Download XLS (27 kB) |
|
(€ million) |
Corporate and other activities |
Transportation and dispatching |
Distribution |
Storage |
Regasification |
Consolidation eliminations |
Adjusted non-allocable assets and liabilities |
Total |
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|
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|
2013 |
|
|
|
|
|
|
|
|
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|
Net core business revenue (a) |
182 |
2,003 |
1,315 |
487 |
31 |
|
|
4,018 |
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|
Less: inter-segment revenue |
(170) |
(17) |
(1) |
(86) |
(9) |
|
|
(283) |
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|
Revenue from third parties |
12 |
1,986 |
1,314 |
401 |
22 |
|
|
3,735 |
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|
Other revenue and income |
1 |
70 |
40 |
2 |
|
|
|
113 |
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|
Net accrual to provisions for risks and charges |
|
12 |
(16) |
|
|
|
|
(4) |
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|
Amortisation, depreciation and impairment losses |
(3) |
(483) |
(214) |
(64) |
(5) |
|
|
(769) |
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|
EBIT |
(8) |
1,217 |
505 |
315 |
5 |
|
|
2,034 |
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|
Income (expense) from equity investments |
(15) |
|
60 |
|
|
|
|
45 |
||||
|
of which: Equity method valuation effect |
(15) |
|
60 |
|
|
|
|
45 |
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|
Directly attributable current assets (b) |
73 |
1,305 |
517 |
813 |
10 |
|
|
2,718 |
||||
|
Directly attributable non-current assets (b) |
734 |
12,334 |
4,483 |
3,456 |
88 |
|
|
21,095 |
||||
|
of which: Equity-accounted investments |
689 |
|
335 |
|
|
|
|
1,024 |
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|
Directly attributable current liabilities (b) |
2,440 |
2,460 |
767 |
768 |
15 |
|
(2,072) |
4,378 |
||||
|
Directly attributable non-current liabilities (b) |
11,119 |
7,698 |
1,899 |
2,373 |
14 |
|
(9,639) |
13,464 |
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|
Investments in property, plant and equipment and intangible assets |
7 |
672 |
358 |
251 |
5 |
(3) |
|
1,290 |
||||
|
2014 |
|
|
|
|
|
|
|
|
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|
Net core business revenue (a) |
201 |
2,035 |
1,324 |
538 |
25 |
|
|
4,123 |
||||
|
Less: inter-segment revenue |
(190) |
(19) |
(1) |
(123) |
(6) |
|
|
(339) |
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|
Revenue from third parties |
11 |
2,016 |
1,323 |
415 |
19 |
|
|
3,784 |
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|
Other revenue and income |
1 |
49 |
42 |
3 |
3 |
|
|
98 |
||||
|
Net accrual to provisions for risks and charges |
(4) |
(36) |
(25) |
1 |
|
|
|
(64) |
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|
Amortisation, depreciation and impairment losses |
(4) |
(489) |
(245) |
(60) |
(5) |
|
|
(803) |
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|
EBIT |
(18) |
1,196 |
477 |
318 |
|
|
|
1,973 |
||||
|
Income (expense) from equity investments |
33 |
|
98 |
|
|
|
|
131 |
||||
|
of which: Equity method valuation effect |
33 |
|
46 |
|
|
|
|
79 |
||||
|
Directly attributable current assets (b) |
300 |
1,276 |
588 |
295 |
17 |
|
|
2,476 |
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|
Directly attributable non-current assets (b) |
1,227 |
12,615 |
4,737 |
3,739 |
89 |
|
|
22,407 |
||||
|
of which: Equity-accounted investments |
1,178 |
|
224 |
|
|
|
|
1,402 |
||||
|
Directly attributable current liabilities (b) |
2,219 |
2,802 |
951 |
601 |
29 |
|
(2,704) |
3,898 |
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|
Directly attributable non-current liabilities (b) |
11,932 |
7,233 |
1,815 |
2,217 |
12 |
|
(9,380) |
13,829 |
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|
Investments in property, plant and equipment and intangible assets |
7 |
700 |
359 |
240 |
7 |
|
|
1,313 |
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Revenue is generated by applying regulated tariffs or market conditions. The revenue was generated entirely in Italy; costs were incurred almost entirely in Italy.