Results
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(€ million) |
2013 |
2014 |
2015 |
Change |
% change |
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|
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Total revenue (*) |
2,075 |
2,087 |
2,145 |
58 |
2.8 |
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- of which from regulated activities |
2,066 |
2,065 |
2,094 |
29 |
1.4 |
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Operating costs (*) |
375 |
402 |
485 |
83 |
20.6 |
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EBIT |
1,217 |
1,196 |
1,165 |
(31) |
(2.6) |
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Technical investments |
672 |
700 |
693 |
(7) |
(1.0) |
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- of which with a greater return (**) |
516 |
370 |
328 |
(42) |
(11.4) |
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- of which with a basic rate of return |
156 |
330 |
365 |
35 |
10.6 |
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Net invested capital at 31 December |
11,370 |
11,877 |
12,011 |
134 |
1.1 |
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Natural gas injected in the national gas transportation network (billions of cubic metres) (***) |
69.00 |
62.25 |
67.25 |
5.00 |
8.0 |
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Transportation network (kilometres in use) |
32,306 |
32,339 |
32,534 |
195 |
0.6 |
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- of which national network |
9,475 |
9,559 |
9,630 |
71 |
0.7 |
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- of which regional network |
22,831 |
22,780 |
22,904 |
124 |
0.5 |
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Installed capacity in the compression stations (MW) |
866.9 |
893.9 |
876.5 |
(17.4) |
(1.9) |
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Employees in service at 31 December (number) |
1,952 |
1,874 |
1,918 |
44 |
2.3 |
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Total revenue amounted to €2,145 million, up by €58 million, or 2.8%, compared with 2014 (€2,087 million). Net of components offset in costs10, total revenue amounted to €1,963 million, up by €46 million, or 2.4%, compared with the previous year.
Revenue from regulated activities amounted to €2,094 million, largely related to fees for the natural gas transportation service (€2,044 million) and €49 million related to income from natural gas sales made in order to balance the gas system. Revenue from regulated activities, net of components that are offset in costs, amounted to €1,912 million, up by €17 million, or 0.9%, compared with 2014. The increase was due to the contribution of investments made in 2013 (+€76 million), which was partially absorbed by the tariff adjustment (-€63 million).
Revenue from non-regulated activities (€51 million) was up by €29 million compared with 2014. The increase was mainly due to income from the sale of natural gas (+€22 million).
EBIT amounted to €1,165 million, down by €31 million, or 2.6%, compared with the previous year. Higher revenue (+€46 million, net of components offset in costs) was more than offset by the increase in operating costs (-€71 million, net of components that are offset in revenues), mainly attributable to the impact of the change in inventories of natural gas resulting from higher withdrawals and sales (-€42 million overall) and the increase in amortisation, depreciation and impairment losses (-€6 million) primarily due to new infrastructure entering into service.
10 Applying gas segment tariff regulations generates revenue components that are offset in costs: modulation, interconnection and balancing. Specifically, balancing revenue that is offset in the operating costs related to withdrawals of gas from storage totalled €49 million (€45 million in 2014) and referred to sales of natural gas for the purpose of balancing the gas system.