Results
Total revenue amounted to €28 million, down by €3 million, or 9.7%, compared with 2013. Total revenue, net of components offset in costs26 and income from sales of boil-off gas27 on the balancing market, stands at €19 million, down by €3 million compared with the previous year. The reduction was due to lower regasification revenue, mainly as a result of tariff updates28.
Regulated revenue, which totalled €25 million, included the fees for the regasification service (€19 million; −€3 million) and the recharging to users of charges relating to the natural gas transportation service provided by Snam Rete Gas S.p.A. (€6 million; −€3 million)29.
EBIT fell by €5 million compared with the previous year, due to a fall in regasification revenue (−€3 million) and higher operating costs (−€5 million, net of components offset in revenue), relating mainly to the cost of purchasing natural gas used to maintain the plant’s efficiency.
26 Revenue that is offset in costs refers to revenue generated by the transportation service provided by Snam Rete Gas, which LNG recharges to its customers (€6 million, compared with €9 million in 2013).
27 Recovering boil-off gas involves reusing the vapours formed inside tanks. In light of the plant shutdown, the gas recovered was subsequently injected into the transportation network.
28 The tariff criteria in force for the fourth regulatory period (1 January 2014 – 31 December 2017) are described under “Tariff regulations and other provisions”.
29 For the purposes of the consolidated financial statements, this revenue is eliminated, together with transportation costs, within GNL Italia S.p.A. in order to represent the substance of the operation.
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KEY PERFORMANCE INDICATORS |
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(€ million) |
2012 |
2013 |
2014 |
Change |
% Change |
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Total revenue (*) (**) |
35 |
31 |
28 |
(3) |
(9.7) |
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- of which regulated |
34 |
31 |
25 |
(6) |
(19.4) |
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Operating costs (**) |
25 |
21 |
23 |
2 |
9.5 |
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EBIT |
5 |
5 |
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(5) |
(100.0) |
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Net invested capital at 31 December |
77 |
75 |
84 |
9 |
12.0 |
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Technical investments |
3 |
5 |
7 |
2 |
40.0 |
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- of which with a greater return (***) |
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3 |
7 |
4 |
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- of which with a basic return |
3 |
2 |
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(2) |
(100.0) |
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Volumes of LNG regasified (billions of cubic metres) |
1.12 |
0.05 |
0.01 |
(0.04) |
(80.0) |
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Tanker loads (number) |
31 |
1 |
1 |
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Employees in service at 31 December (number) |
78 |
79 |
77 |
(2) |
(2.5) |
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