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- |
Distribution |
Storage |
Regasification |
Profits on stock |
Non-allocable assets and liabilities/ |
Total |
||
|
||||||||||
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) |
||
|
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.
