Reconciliation of the reclassified financial statements with the compulsory formats

 Download XLS (28 kB)
Reclassified statement of financial position

(million of €)

 

31.12.2018

31.12.2019

Reclassified statement of financial position items (Where not expressly stated, the component is taken directly from the legally required format)

Reference to notes to consolidated financial statements

Partial amount from legally required format

Amount from reclassified format

Partial amount from legally required format

Amount from reclassified format

Fixed capital

 

 

 

 

 

Property, plant and equipment

 

 

16,153

 

16,439

Compulsory inventories

 

 

363

 

363

Intangible assets

 

 

907

 

990

Equity investments composed of:

 

 

1,750

 

1,828

- Investments valued using the equity method

 

1,710

 

1,787

 

- Other investments

 

40

 

41

 

Non-current financial assets

(Note 9)

 

11

 

3

Net payables for investments, consisting of:

 

 

(328)

 

(312)

- Payables for investment activities

(Note 19)

(337)

 

(320)

 

- Receivables from investment/divestment activities

(Note 9)

9

 

8

 

Total fixed capital

 

 

18,856

 

19,311

Net working capital

 

 

 

 

 

Trade receivables

(Note 9)

 

1,247

 

1,217

Inventories

 

 

109

 

112

Tax receivables, consisting of:

 

 

26

 

35

- Current income tax assets and other current tax assets

 

17

 

26

 

- IRES receivables for national tax consolidation scheme

(Note 9)

9

 

9

 

Trade payables

(Note 19)

 

(491)

 

(487)

Tax payables, consisting of:

 

 

(23)

 

(35)

- Current income tax liabilities and other current tax liabilities

 

(23)

 

(35)

 

Deferred tax liabilities

 

 

(134)

 

(106)

Provisions for risks and charges

 

 

(665)

 

(713)

Derivative hedging instruments

(Notes 12 and 20)

 

(29)

 

(63)

Other assets, consisting of:

 

 

105

 

185

- Other receivables

(Note 9)

72

 

142

 

- Other current and non-current assets

(Note 12)

33

 

43

 

Assets and liabilities from regulated activities, consisting of:

 

 

(363)

 

(145)

- Regulated assets

(Note 12)

26

 

2

 

- Regulated liabilities

(Note 20)

(389)

 

(147)

 

Other liabilities, consisting of:

 

 

(1,041)

 

(1,094)

- Other payables

(Note 19)

(940)

 

(994)

 

- Other current and non-current liabilities

(Note 20)

(101)

 

(100)

 

Total net working capital

 

 

(1,259)

 

(1,094)

Provisions for employee benefits

 

 

(64)

 

(46)

Assets held for sale and directly related liabilities, consisting of:

 

 

 

 

10

- Assets held for sale

 

 

 

10

 

NET INVESTED CAPITAL

 

 

17,533

 

18,181

Snam shareholders’ equity

 

 

5,985

 

6,255

Minority interests

 

 

 

 

3

Net financial debt

 

 

 

 

 

Financial liabilities, consisting of:

 

 

13,420

 

14,774

- Long-term financial liabilities

 

9,787

 

10,643

 

- Short-term portion of long-term financial liabilities

 

1,657

 

1,675

 

- Short-term financial liabilities

 

1,976

 

2,456

 

Financial receivables and cash and cash equivalents, consisting of:

 

 

(1,872)

 

(2,851)

- Short-term financial receivables

 

 

 

 

 

- Cash and cash equivalents

(Note 8)

(1,872)

 

(2,851)

 

Total net financial debt

 

 

11,548

 

11,923

COVERAGE

 

 

17,533

 

18,181

 Download XLS (28 kB)
Reclassified statement of cash flows

(million of €)

2018

2019

Items from the reclassified statement of cash flows and reconciliation with the legally required format

Partial amount from legally required format

Amount from reclassified format

Partial amount from legally required format

Amount from reclassified format

Net profit

 

960

 

1,090

Adjusted for:

 

 

 

 

Amortisation, depreciation and other non-monetary components:

 

543

 

527

- Amortisation and depreciation

682

 

722

 

- Impairment losses

8

 

30

 

- Equity method valuation effect

(157)

 

(218)

 

- Other expense from equity investments

 

 

4

 

- Change in provisions for employee benefits

7

 

(18)

 

- Other changes

3

 

7

 

Net capital losses (capital gains) on asset sales and eliminations

 

12

 

8

Interest and income taxes:

 

557

 

552

- Dividends

(2)

 

(2)

 

- Interest income

(12)

 

(11)

 

- Interest expense

230

 

190

 

- Income taxes

341

 

375

 

Change in working capital due to operating activities:

 

185

 

(264)

- Inventories

(33)

 

(43)

 

- Trade receivables

41

 

38

 

- Trade payables

76

 

(28)

 

- Change in provisions for risks and charges

9

 

6

 

- Other assets and liabilities

92

 

(237)

 

Dividends, interest and income taxes collected (paid):

 

(431)

 

(427)

- Dividends collected

151

 

134

 

- Interest collected

4

 

11

 

- Interest paid

(230)

 

(185)

 

- Income taxes (paid) received

(356)

 

(387)

 

Net cash flow from operating activities

 

1,826

 

1,486

Technical investments:

 

(849)

 

(954)

Property, plant and equipment

(772)

 

(852)

 

- Intangible assets

(77)

 

(102)

 

Technical disinvestments:

 

2

 

 

Property, plant and equipment

2

 

 

 

Companies leaving (entering) the scope of consolidation and business units

 

(32)

 

(34)

- Change in scope of consolidation and business units

(38)

 

(41)

 

- Change in net payables relating to investments

6

 

7

 

Equity investments

 

(144)

 

12

- Investments in shares

(165)

 

(24)

 

- Disinvestments in shares

21

 

36

 

Non-current financial assets

 

371

 

(5)

- Taking out long-term financial loans

(148)

 

(5)

 

- Repayment of long-term financial loans

519

 

 

 

Other changes relating to investment activities:

 

(13)

 

(23)

- Change in net payables relating to technical investments and equity investments

(13)

 

(23)

 

Free cash flow

 

1,161

 

482

Change in current financial assets

 

350

 

 

Change in financial payables:

 

799

 

1,279

- Taking on long-term financial debt

1,810

 

2,877

 

- Repaying long-term financial debt

(1,608)

 

(2,070)

 

- Increase (decrease) in short-term financial debt

597

 

478

 

- Repayment of lease liabilities

 

 

(6)

 

Equity cash flow

 

(1,157)

 

(782)

- Dividends paid

(731)

 

(746)

 

- Capital contributions from third-parties

 

 

3

 

- Acquisition of treasury shares

(426)

 

(39)

 

Net cash flow for the period

 

1,153

 

979

to pagetop