Snam.it

35 Segment information

The business segments in which Snam operates have been identified on the basis of the criteria adopted for the preparation of operational reporting by senior management when taking business decisions. The business segments identified are transportation, LNG regasification, and natural gas storage and distribution, and are mainly performed by Snam Rete Gas, GNL Italia, Stogit and Italgas, respectively. From 2012, information relating to the activities of Snam S.p.A. has been allocated to the corporate segment32.

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(€ million)

Corporate

Transpor-
tation and
dispatching

Distri­bution

Storage

Regasifi­cation

 Profits on stock

Non-allocable assets and liabilities/
adjustments

Total

(a)

Before elimination of intra-segment revenue.

2011

 

 

 

 

 

 

 

 

Net core business revenue (a)

 

1,945

1,297

372

34

 

 

3,648

Less: inter-segment revenue

 

(62)

(1)

(35)

(11)

 

 

(109)

Revenue from third parties

 

1,883

1,296

337

23

 

 

3,539

Other revenue and income

 

13

49

3

1

 

 

66

Net accrual to provisions for risks and charges

 

10

18

 

(1)

 

 

27

Amortisation, depreciation and impairment losses

 

(435)

(158)

(56)

(5)

 

 

(654)

EBIT

 

1,137

559

255

7

 

 

1,958

Equity method valuation effect

 

 

45

 

 

 

 

45

Directly attributable current assets

 

754

454

602

13

 

 

1,823

Directly attributable non-current assets

 

11,905

4,248

3,060

89

 

 

19,302

Of which:

 

 

 

 

 

 

 

 

- Equity-accounted investments

 

1

318

 

 

 

 

319

Directly attributable current liabilities

 

3,797

984

1,098

16

 

 

5,895

Directly attributable non-current liabilities

 

6,390

1,293

1,469

15

 

 

9,167

Capital expenditure

 

892

394

296

3

 

 

1,585

2012

 

 

 

 

 

 

 

 

Net core business revenue (a)

184

1,916

1,434

401

34

 

 

3,969

Less: inter-segment revenue

(173)

(10)

(1)

(44)

(11)

 

 

(239)

Revenue from third parties

11

1,906

1,433

357

23

 

 

3,730

Other revenue and income

 

142

74

1

1

(2)

 

216

Net accrual to provisions for risks and charges

 

36

16

2

 

 

 

54

Amortisation, depreciation and impairment losses

(2)

(449)

(187)

(63)

(5)

 

 

(706)

EBIT

6

1,135

626

270

5

69

 

2,111

Equity method valuation effect

1

 

54

 

 

 

 

55

Directly attributable current assets

67

1,085

558

756

14

 

 

2,480

Directly attributable non-current assets

209

12,093

4,390

3,301

88

 

 

20,081

Of which:

 

 

 

 

 

 

 

 

- Equity-accounted investments

134

 

339

 

 

 

 

473

Directly attributable current liabilities

585

3,190

1,098

1,065

19

 

(3,573)

2,384

Directly attributable non-current liabilities

11,973

6,885

1,964

2,049

17

 

(8,618)

14,270

Capital expenditure

7

700

359

233

3

(2)

 

1,300

Revenue is generated by applying regulated tariffs or market conditions. The Company’s revenue is generated entirely in Italy; costs are incurred almost entirely in Italy.

32 Until 31 December 2011, this information, not reported separately, was included within the transportation segment, reflecting the activities carried out hitherto by the parent company.

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Snam’s presence in Italy

Infrastructure as
at 31 December 2012

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