Net financial debt

Net financial debt is calculated as the financial debt net of cash and cash equivalents, securities available for sale and to be kept until maturity and short-term financial receivables.

The tables below show the reconciliation between the reported Income Statement and the adjusted Income Statement, as well as a table summarizing the special items:

 Download XLS (23 kB)

 

2018

2019

(million of €)

Reported

Special item

Adjusted

Reported

Special item

Adjusted

Regulated revenue

2,485

 

2,485

2,550

 

2,550

Non-regulated revenue

101

 

101

115

 

115

Total revenue

2,586

 

2,586

2,665

 

2,665

- Total revenue net of pass-through items

2,528

 

2,528

2,604

 

2,604

Operating costs

(512)

21

(491)

(461)

(35)

(496)

- Operating costs net of pass-through items

(454)

21

(433)

(400)

(35)

(435)

EBITDA

2,074

21

2,095

2,204

(35)

2,169

Amortisation, depreciation and impairment losses

(690)

 

(690)

(752)

 

(752)

EBIT

1,384

21

1,405

1,452

(35)

1,417

Net financial expense

(242)

47

(195)

(203)

38

(165)

Net income from equity investments

159

 

159

216

 

216

Pre-tax profit

1,301

68

1,369

1,465

3

1,468

Income tax

(341)

(18)

(359)

(375)

 

(375)

Net profit

960

50

1,010

1,090

3

1,093

- Attributable to Snam shareholders

960

 

1,010

1,090

 

1,093

- Minority interests

 

 

 

 

 

 

 Download XLS (21 kB)
Details of special items

(million of €)

2018

2019

Change

% change

Special item of operating profit

21

(35)

(56)

(266.7)

Charges for redundancy packages and early retirement

21

 

(21)

(100.0)

Release of provision for balancing impairment losses

 

(35)

(35)

 

Special item Net financial charges

47

38

(9)

(19.1)

- Liability management finance charges

47

38

(9)

(19.1)

Special item Income taxes

(18)

 

18

(100.0)

- Taxation on special items operating profit

(6)

9

15

 

- Taxation on special item net financial charges

(12)

(9)

3

(25.0)

Total special item of net profit

50

3

(47)

(94.0)

to pagetop