EBIT
| Download XLS (23 kB) |
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(€ million) |
2012 |
2013 |
2014 |
Change |
% Change |
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Business segments |
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Transportation |
1,135 |
1,217 |
1,196 |
(21) |
(1.7) |
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Regasification |
5 |
5 |
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(5) |
(100.0) |
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Storage |
270 |
315 |
318 |
3 |
1.0 |
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Distribution |
626 |
505 |
477 |
(28) |
(5.5) |
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Corporate and other activities |
6 |
(8) |
(18) |
(10) |
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Consolidation eliminations |
69 |
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2,111 |
2,034 |
1,973 |
(61) |
(3.0) |
EBIT45 in 2014 totalled €1,973 million, down by €61 million, or 3.0%, compared with 2013. The higher revenue recorded in all the main business segments (+€59 million) was offset by the increase in operating costs (−€86 million), due essentially to higher net provisions for risks and charges (−€60 million) relating mainly to the natural gas transportation (−€48 million) and distribution (−€9 million) segments, and to the impairment losses recorded in relation to strategic gas in the storage segment (−€30 million), as well as the increase in amortisation, depreciation and impairment losses (−€34 million).
The positive performance of the storage segment (+€3 million; +1.0%), despite the impairment losses recorded in relation to strategic gas, was offset by the decrease in EBIT recorded by the distribution (−€28 million; −5.5%), transportation (−€21 million; −1.7%) and regasification (−€5 million) segments.
EBIT decreased by €87 million, or 4.2%, compared with adjusted EBIT for 2013.
45 EBIT was analysed by isolating only the elements that determined a change therein. In particular, it should be noted that applying gas segment tariff regulations generates revenue components that are offset in costs.