4 Trade and other receivables
Trade and other receivables of €1,837 million (€2,081 million at 31 December 2014) can be broken down as follows:
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|
31.12.2014 |
30.06.2015 |
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|
|
Maturity |
Maturity |
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|
(€ million) |
Within 1 year |
Beyond 1 year |
Total |
Within 1 year |
Beyond 1 year |
Total |
|
Trade receivables |
1,620 |
108 |
1,728 |
1,279 |
110 |
1,389 |
|
Financial receivables |
216 |
|
216 |
221 |
|
221 |
|
- not held for operations |
216 |
|
216 |
221 |
|
221 |
|
Receivables from investment/ |
13 |
|
13 |
12 |
|
12 |
|
Other receivables |
124 |
|
124 |
215 |
|
215 |
|
|
1,973 |
108 |
2,081 |
1,727 |
110 |
1,837 |
These are reported net of the provision for impairment losses of €37 million (€34 million at 31 December 2014).
Trade receivables of €1,389 million (€1,728 million at 31 December 2014) relate mainly to the natural gas transportation (€884 million, including €393 million relating to gas balancing activities), distribution (€266 million) and storage (€227 million) business segments.
Financial receivables not held for operations (€221 million; €216 million at 31 December 2014) refer to Snam S.p.A. awarding a short-term revolving credit line to Trans Austria Gasleitung GmbH (TAG) following contractual agreements regarding the acquisition of CDP GAS S.r.l.’s equity investment in TAG6.
Receivables from investment/divestment activities (€12 million; €13 million at 31 December 2014) concern receivables for public and private grants for investment activities (€7 million) and receivables from the sale of assets (€5 million).
Other receivables of €215 million (€124 million at 31 December 2014) can be broken down as follows:
| Download XLS (22 kB) |
|
(€ million) |
31.12.2014 |
30.06.2015 |
|
IRES receivables for the national tax consolidation scheme |
32 |
32 |
|
Other receivables: |
92 |
183 |
|
- Electricity Equalisation Fund (EEF) |
49 |
118 |
|
- Advances to suppliers |
6 |
3 |
|
- Other |
37 |
62 |
|
|
124 |
215 |
The fair value measurement of trade and other receivables has no material impact considering the short period of time from when the receivable arises and its due date and the remuneration terms.
All receivables are in euros.
Receivables from related parties are described in Note 27 “Related-party transactions”.
6 The contractual agreements drawn up between Snam, TAG and Gas Connect Austria GmbH (GCA) stipulate that if TAG is not capable of self-financing, the other companies must finance it according to the equity investment held by each shareholder. On the closing date, Snam and TAG agreed a shareholders’ loan in the form of a revolving credit line for a maximum of €285.5 million, which is currently due to mature in September 2015.