19 Revenue48
The breakdown of revenue for the first half of 2017, which totalled €1,268 million (€1,209 million in the first half of 2016), is shown in the following table:
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|
First half |
|
(€ millions) |
2016 |
2017 |
Core business revenue |
1,188 |
1,244 |
Other revenue and income |
21 |
24 |
|
1,209 |
1,268 |
The reasons for the most significant changes are described in the Interim Report in the “Financial Review” section which should be referred to.
Core business revenue of €1,244 million mainly refers to the natural gas transportation (€973 million) and storage (€221 million) segments and LNG regasification (€10 million) services.
The Group generates nearly all of its revenue in Italy. An analysis of revenue by business segment can be found in Note 26 – “Information by business segment”.
Core business revenue is reported net of the following items involving tariff components, in addition to the tariff, applied to cover gas system expenses of a general nature. Amounts received from Snam are paid in full to the Energy and Environmental Services Fund (CSEA).
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|
First half |
|
(€ millions) |
2016 |
2017 |
Additional fees for the transportation service |
474 |
600 |
|
474 |
600 |
Other revenue and income
Other revenue and income, which amounted to €24 million (€21 million in the first half of 2016), can be broken down as follows:
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|
First half |
|||
(€ millions) |
2016 |
2017 |
||
|
||||
Income from gas sales for the balancing service (*) |
16 |
16 |
||
Income for incentivising the Balance Supervisor (RdB) - resolution 554/2016/R/gas |
|
4 |
||
Insurance compensation |
2 |
2 |
||
Other income |
3 |
2 |
||
|
21 |
24 |
||
Snam’s business is not affected by seasonal factors which would have a significant impact on its interim or annual financial results.
48 The Income Statement data for the first half of 2016, unless stated otherwise, refer to continuing operations (natural gas transportation, storage and regasification, as well as Corporate activities) and are limited to relations with third-parties.