26 Information by business segment
The information about business segments has been prepared in accordance with the provisions of IFRS 8 - “Operating segments”, which requires the information to be presented in a manner consistent with the procedures adopted by the Company’s management when taking operational decisions. Consequently, the identification of the operating segments and the information presented are defined on the basis of the internal reporting used by the Company’s management for allocating resources to the different segments and for analysing the respective performances.
The business segments for which information is provided are natural gas transportation (“Transportation”), LNG regasification (“Regasification”), natural gas storage (“Storage”) and natural gas distribution (“Distribution”). They relate to activities carried out predominantly by Snam Rete Gas, GNL Italia, Stogit and Italgas, respectively.
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(millions of €) |
Corporate and other activities |
Trasportation and dispatch |
Distribution |
Storage |
Regasification |
Consolidation adjustments and eliminations |
Total |
||
|
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First half 2015 |
|
|
|
|
|
|
|
||
Net core business revenue (a) |
101 |
1,021 |
650 |
275 |
12 |
|
2,059 |
||
less: inter-segment revenue |
(95) |
(11) |
|
(66) |
(1) |
|
(173) |
||
Revenue from third parties |
6 |
1,010 |
650 |
209 |
11 |
|
1,886 |
||
Other revenue and income |
|
58 |
14 |
1 |
|
|
73 |
||
Net accrual to (utilisation of) provisions for risks and charges |
3 |
(1) |
(19) |
|
|
|
(17) |
||
Amortisation and depreciation |
3 |
249 |
132 |
36 |
2 |
|
422 |
||
EBIT |
1 |
591 |
248 |
169 |
3 |
|
1,012 |
||
Equity method valuation effect |
59 |
|
11 |
|
|
|
70 |
||
Total assets |
1,431 |
13,680 |
5,308 |
4,055 |
104 |
|
24,578 |
||
- Investments valued using the equity method |
1,094 |
|
176 |
|
|
|
1,270 |
||
Total liabilities |
14,412 |
9,908 |
2,553 |
2,854 |
38 |
(12,140) |
17,625 |
||
Investments in property, plant and equipment and intangible assets |
4 |
278 |
142 |
62 |
1 |
|
487 |
||
First half 2016 |
|
|
|
|
|
|
|
||
Net core business revenue (a) |
94 |
963 |
639 |
292 |
9 |
|
1,997 |
||
less: inter-segment revenue |
(87) |
(11) |
|
(72) |
|
|
(170) |
||
Revenue from third parties |
7 |
952 |
639 |
220 |
9 |
|
1,827 |
||
Other revenue and income |
|
19 |
14 |
1 |
|
|
34 |
||
Net provisions (utilisation of) for risks and charges |
2 |
2 |
12 |
|
|
|
16 |
||
Amortisation, depreciation and impairment losses |
3 |
257 |
142 |
42 |
3 |
|
447 |
||
EBIT |
(6) |
515 |
178 |
179 |
1 |
|
867 |
||
Equity method valuation effect |
55 |
|
9 |
|
|
|
64 |
||
Total assets |
1,458 |
13,663 |
5,389 |
4,128 |
115 |
|
24,753 |
||
- Investments valued using the equity method |
1,172 |
|
165 |
|
|
|
1,337 |
||
Total liabilities |
14,390 |
9,608 |
2,563 |
2,832 |
47 |
(11,937) |
17,503 |
||
Investments in property, plant and equipment and intangible assets |
2 |
319 |
152 |
51 |
2 |
|
526 |
||
Revenue is generated by applying regulated tariffs or market conditions. The revenue was generated entirely in Italy; costs were incurred almost entirely in Italy.