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26 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.

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(millions of €)

Cor­porate and other activi­ties

Traspor­tation and dis­patch

Distri­bution

Storage

Regasifi­cation

Consoli­dation adjust­ments and elimi­nations

Total

(a)

Balances before elimination of inter-segment revenue.

First half 2015

 

 

 

 

 

 

 

Net core business revenue (a)

101

1,021

650

275

12

 

2,059

less: inter-segment revenue

(95)

(11)

 

(66)

(1)

 

(173)

Revenue from third parties

6

1,010

650

209

11

 

1,886

Other revenue and income

 

58

14

1

 

 

73

Net accrual to (utilisation of) provisions for risks and charges

3

(1)

(19)

 

 

 

(17)

Amortisation and depreciation

3

249

132

36

2

 

422

EBIT

1

591

248

169

3

 

1,012

Equity method valuation effect

59

 

11

 

 

 

70

Total assets

1,431

13,680

5,308

4,055

104

 

24,578

- Investments valued using the equity method

1,094

 

176

 

 

 

1,270

Total liabilities

14,412

9,908

2,553

2,854

38

(12,140)

17,625

Investments in property, plant and equipment and intangible assets

4

278

142

62

1

 

487

First half 2016

 

 

 

 

 

 

 

Net core business revenue (a)

94

963

639

292

9

 

1,997

less: inter-segment revenue

(87)

(11)

 

(72)

 

 

(170)

Revenue from third parties

7

952

639

220

9

 

1,827

Other revenue and income

 

19

14

1

 

 

34

Net provisions (utilisation of) for risks and charges

2

2

12

 

 

 

16

Amortisation, depreciation and impairment losses

3

257

142

42

3

 

447

EBIT

(6)

515

178

179

1

 

867

Equity method valuation effect

55

 

9

 

 

 

64

Total assets

1,458

13,663

5,389

4,128

115

 

24,753

- Investments valued using the equity method

1,172

 

165

 

 

 

1,337

Total liabilities

14,390

9,608

2,563

2,832

47

(11,937)

17,503

Investments in property, plant and equipment and intangible assets

2

319

152

51

2

 

526

Revenue is generated by applying regulated tariffs or market conditions. The revenue was generated entirely in Italy; costs were incurred almost entirely in Italy.

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