Reclassified income statement

In order to facilitate the understanding of the Income Statement, in consideration of the nature of Snam S.p.A. as an industrial holding company, the reclassified draft income statement has been prepared, presenting first the items relating to financial operations, insofar as this is the most significant component of the income³⁴. With reference to other operating expenses, the item includes not only non-financial costs but also the amortisation, depreciation and impairment of assets.

Net profit achieved in 2018 amounted to 721 million euro, up by 44 million euro (6.5%), compared to the 2017 financial year. The increase is mainly due to the greater financial income and charges (+28 million euro; +3.9%), primarily following the greater income from equity investments (+35 million euro; +4.7%) and the reduction of other operating expenses (+14 million euro; +5.5%), mainly due to the lesser costs for the provision of non-financial services and other costs (+27 million euro). These effects have been partly offset by the increased personnel expenses (-13 million euro), mainly relating to expenses for incentives to take redundancy and Isopensione.