10 Inventories
Inventories of €156 million (€202 million at 31 December 2012) are analysed in the table below:
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31.12.2012 |
31.12.2013 |
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(€ million) |
Gross amount |
Impairment losses |
Net amount |
Gross amount |
Impairment losses |
Net amount |
Change |
|
Raw materials, consumables and supplies |
147 |
(6) |
141 |
102 |
(6) |
96 |
(45) |
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Finished products and merchandise |
61 |
|
61 |
60 |
|
60 |
(1) |
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|
208 |
(6) |
202 |
162 |
(6) |
156 |
(46) |
Inventories of raw materials, consumables and supplies (€96 million) primarily include: (i) natural gas used for transportation activities (€28 million); and (ii) stock materials relating to the pipeline network (€43 million), the distribution network (€10 million) and storage plants (€9 million).
The inventories of finished products and merchandise (€60 million) refer to the natural gas present in the storage system (739 million standard cubic metres, compared with 759 million cubic metres at 31 December 2012) and do not include compulsory inventories13, recognised under “Non-current assets” on the balance sheet.
The change in the financial year (-€46 million) relates essentially to the transportation segment (-€44 million) and is attributable to the balance between withdrawals of gas from storage and contributions in kind by service users.
Inventories are stated net of the provision for impairment losses of €6 million (unchanged from 31 December 2012), set up to account for slow-moving materials. Inventories are not collateralised. Inventories do not secure liabilities, nor are they recognised at net realisation value.
13 The compulsory inventories are described in Note 14, “Inventories – Compulsory inventories”.