Reconciliation of the reclassified financial statements with the compulsory formats
| Download XLS (28 kB) |
(million of €) |
|
31.12.2018 |
31.12.2019 |
||
|---|---|---|---|---|---|
Reclassified statement of financial position items (Where not expressly stated, the component is taken directly from the legally required format) |
Reference to notes to consolidated financial statements |
Partial amount from legally required format |
Amount from reclassified format |
Partial amount from legally required format |
Amount from reclassified format |
Fixed capital |
|
|
|
|
|
Property, plant and equipment |
|
|
16,153 |
|
16,439 |
Compulsory inventories |
|
|
363 |
|
363 |
Intangible assets |
|
|
907 |
|
990 |
Equity investments composed of: |
|
|
1,750 |
|
1,828 |
- Investments valued using the equity method |
|
1,710 |
|
1,787 |
|
- Other investments |
|
40 |
|
41 |
|
Non-current financial assets |
|
11 |
|
3 |
|
Net payables for investments, consisting of: |
|
|
(328) |
|
(312) |
- Payables for investment activities |
(337) |
|
(320) |
|
|
- Receivables from investment/divestment activities |
9 |
|
8 |
|
|
Total fixed capital |
|
|
18,856 |
|
19,311 |
Net working capital |
|
|
|
|
|
Trade receivables |
|
1,247 |
|
1,217 |
|
Inventories |
|
|
109 |
|
112 |
Tax receivables, consisting of: |
|
|
26 |
|
35 |
- Current income tax assets and other current tax assets |
|
17 |
|
26 |
|
- IRES receivables for national tax consolidation scheme |
9 |
|
9 |
|
|
Trade payables |
|
(491) |
|
(487) |
|
Tax payables, consisting of: |
|
|
(23) |
|
(35) |
- Current income tax liabilities and other current tax liabilities |
|
(23) |
|
(35) |
|
Deferred tax liabilities |
|
|
(134) |
|
(106) |
Provisions for risks and charges |
|
|
(665) |
|
(713) |
Derivative hedging instruments |
|
(29) |
|
(63) |
|
Other assets, consisting of: |
|
|
105 |
|
185 |
- Other receivables |
72 |
|
142 |
|
|
- Other current and non-current assets |
33 |
|
43 |
|
|
Assets and liabilities from regulated activities, consisting of: |
|
|
(363) |
|
(145) |
- Regulated assets |
26 |
|
2 |
|
|
- Regulated liabilities |
(389) |
|
(147) |
|
|
Other liabilities, consisting of: |
|
|
(1,041) |
|
(1,094) |
- Other payables |
(940) |
|
(994) |
|
|
- Other current and non-current liabilities |
(101) |
|
(100) |
|
|
Total net working capital |
|
|
(1,259) |
|
(1,094) |
Provisions for employee benefits |
|
|
(64) |
|
(46) |
Assets held for sale and directly related liabilities, consisting of: |
|
|
|
|
10 |
- Assets held for sale |
|
|
|
10 |
|
NET INVESTED CAPITAL |
|
|
17,533 |
|
18,181 |
Snam shareholders’ equity |
|
|
5,985 |
|
6,255 |
Minority interests |
|
|
|
|
3 |
Net financial debt |
|
|
|
|
|
Financial liabilities, consisting of: |
|
|
13,420 |
|
14,774 |
- Long-term financial liabilities |
|
9,787 |
|
10,643 |
|
- Short-term portion of long-term financial liabilities |
|
1,657 |
|
1,675 |
|
- Short-term financial liabilities |
|
1,976 |
|
2,456 |
|
Financial receivables and cash and cash equivalents, consisting of: |
|
|
(1,872) |
|
(2,851) |
- Short-term financial receivables |
|
|
|
|
|
- Cash and cash equivalents |
(1,872) |
|
(2,851) |
|
|
Total net financial debt |
|
|
11,548 |
|
11,923 |
COVERAGE |
|
|
17,533 |
|
18,181 |
| Download XLS (28 kB) |
(million of €) |
2018 |
2019 |
||
|---|---|---|---|---|
Items from the reclassified statement of cash flows and reconciliation with the legally required format |
Partial amount from legally required format |
Amount from reclassified format |
Partial amount from legally required format |
Amount from reclassified format |
Net profit |
|
960 |
|
1,090 |
Adjusted for: |
|
|
|
|
Amortisation, depreciation and other non-monetary components: |
|
543 |
|
527 |
- Amortisation and depreciation |
682 |
|
722 |
|
- Impairment losses |
8 |
|
30 |
|
- Equity method valuation effect |
(157) |
|
(218) |
|
- Other expense from equity investments |
|
|
4 |
|
- Change in provisions for employee benefits |
7 |
|
(18) |
|
- Other changes |
3 |
|
7 |
|
Net capital losses (capital gains) on asset sales and eliminations |
|
12 |
|
8 |
Interest and income taxes: |
|
557 |
|
552 |
- Dividends |
(2) |
|
(2) |
|
- Interest income |
(12) |
|
(11) |
|
- Interest expense |
230 |
|
190 |
|
- Income taxes |
341 |
|
375 |
|
Change in working capital due to operating activities: |
|
185 |
|
(264) |
- Inventories |
(33) |
|
(43) |
|
- Trade receivables |
41 |
|
38 |
|
- Trade payables |
76 |
|
(28) |
|
- Change in provisions for risks and charges |
9 |
|
6 |
|
- Other assets and liabilities |
92 |
|
(237) |
|
Dividends, interest and income taxes collected (paid): |
|
(431) |
|
(427) |
- Dividends collected |
151 |
|
134 |
|
- Interest collected |
4 |
|
11 |
|
- Interest paid |
(230) |
|
(185) |
|
- Income taxes (paid) received |
(356) |
|
(387) |
|
Net cash flow from operating activities |
|
1,826 |
|
1,486 |
Technical investments: |
|
(849) |
|
(954) |
Property, plant and equipment |
(772) |
|
(852) |
|
- Intangible assets |
(77) |
|
(102) |
|
Technical disinvestments: |
|
2 |
|
|
Property, plant and equipment |
2 |
|
|
|
Companies leaving (entering) the scope of consolidation and business units |
|
(32) |
|
(34) |
- Change in scope of consolidation and business units |
(38) |
|
(41) |
|
- Change in net payables relating to investments |
6 |
|
7 |
|
Equity investments |
|
(144) |
|
12 |
- Investments in shares |
(165) |
|
(24) |
|
- Disinvestments in shares |
21 |
|
36 |
|
Non-current financial assets |
|
371 |
|
(5) |
- Taking out long-term financial loans |
(148) |
|
(5) |
|
- Repayment of long-term financial loans |
519 |
|
|
|
Other changes relating to investment activities: |
|
(13) |
|
(23) |
- Change in net payables relating to technical investments and equity investments |
(13) |
|
(23) |
|
Free cash flow |
|
1,161 |
|
482 |
Change in current financial assets |
|
350 |
|
|
Change in financial payables: |
|
799 |
|
1,279 |
- Taking on long-term financial debt |
1,810 |
|
2,877 |
|
- Repaying long-term financial debt |
(1,608) |
|
(2,070) |
|
- Increase (decrease) in short-term financial debt |
597 |
|
478 |
|
- Repayment of lease liabilities |
|
|
(6) |
|
Equity cash flow |
|
(1,157) |
|
(782) |
- Dividends paid |
(731) |
|
(746) |
|
- Capital contributions from third-parties |
|
|
3 |
|
- Acquisition of treasury shares |
(426) |
|
(39) |
|
Net cash flow for the period |
|
1,153 |
|
979 |