EBIT
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|
(€ million) |
2010 |
2011 |
2012 |
Change |
% change |
|
Business segments |
|
|
|
|
|
|
Transportation |
1,185 |
1,137 |
1,135 |
(2) |
(0.2) |
|
Regasification |
7 |
7 |
5 |
(2) |
(28.6) |
|
Storage |
218 |
255 |
270 |
15 |
5.9 |
|
Distribution |
455 |
559 |
626 |
67 |
12.0 |
|
Corporate |
|
|
6 |
6 |
|
|
Consolidation adjustments |
(3) |
|
69 |
69 |
|
|
|
1,862 |
1,958 |
2,111 |
153 |
7.8 |
EBIT totalled €2,111 million, up by €153 million, or 7.8%, compared with 2011. The increase was due mainly to higher revenue from regulated activities (+€256 million, net of components offset in costs), which were partly absorbed by the increase in amortisation, depreciation and impairment losses (-€52 million) and the increase in other costs on regulated activities (-€50 million, net of components offset in revenue), due essentially to higher provisions for risks.
The increase in EBIT reflects the improved performance of the distribution (+€138 million; +24.7%)24 and storage (+€15 million; +5.9%) business segments. EBIT generated by transportation activities fell by €2 million, or 0.2%, compared with the previous year.
ROI was 12.0% (11.8% in 2011).
24 In the consolidated financial statements, the EBIT for the natural gas distribution segment includes the positive effect of the consolidation adjustment relating to provisions for environmental expenses (€71 million) that eni repaid, net of tax effect, to Snam pursuant to contractual agreements entered into when completing the acquisition of Italgas.