Total revenue amounted to €32 million, an increase of €8 million, or 33.3%, compared with 2018. Excluding the items offset in costs13, total revenue amounted to €22 million, essentially in line with 2018 (+€1 million or 4.8%).
Regulated revenues, amounting to €27 million, include the fees for the regasification service (€17 million, unchanged from 2018) essentially relating to the share of the guarantee factor for the year 2018, provided for in art. 18 of Annex A to Resolution 438/2013/R/gas, and the chargeback to users of charges relating to the natural gas transportation service provided by Snam Rete Gas S.p.A. (€10 million +€7 million compared with 2018).14
EBIT totalled €1 million (€2 million in 2018). The greater revenue coming from sales of natural gas were offset by the greater operating costs following withdrawals from storage.
13 Revenues offset in costs refer to the costs that LNG charges back to its customers for use of the transportation service provided by Snam Rete Gas.
14 For the purposes of the consolidated financial statements, this revenue is eliminated, together with transportation costs, within LNG Italia S.p.A. in order to represent the substance of the operation.