CONSENT TO USE OF COOKIES ON INITIAL ACCESS TO THE WEB SITE

Snam uses cookies as part of this site to ensure an excellent browsing experience. This site also uses third-party cookies. The cookies used cannot identify the user. For more information about the cookies used and how to delete them, click here. By continuing to browse this site, you consent to the use of cookies.

to pagetop

Cash flow statement

 Download XLS (27 kB)

(millions of €)

Notes

2018

2019

(*)

More than 99% of taxes paid in Italy.

(**)

For Cash flow statement purposes only, the flow includes: (i) the change in inventories of piping and other ancillary materials used in constructing the plants, with reference to the natural gas transportation sector (€11 million and -€5 million, respectively for 2018 and 2019); (ii) the contributions on third-party interference works, so-called compensation (€22 million and €14 million, respectively for 2018 and 2019).

Net profit

 

960

1,090

Adjustments for reconciling net profit with cash flows from operating activities:

 

 

 

Total amortisation and depreciation

(29)

682

722

Impairment losses on tangible and intangible fixed assets

(29)

8

30

Effect of valuation using the equity method

(15)

(157)

(218)

Other expense from equity investments

(16)

 

4

Net capital losses (capital gains) on asset sales, cancellations and eliminations

 

12

8

Dividends

 

(2)

(2)

Interest income

 

(12)

(11)

Interest payable

 

230

190

Income tax

(32)

341

375

Other changes

 

3

7

Changes in working capital:

 

 

 

- Inventories

 

(33)

(43)

- Trade receivables

 

41

38

- Trade payables

 

76

(28)

- Provisions for risks and charges

 

9

6

- Other assets and liabilities

 

92

(237)

Working capital cash flow

 

185

(264)

Change in provisions for employee benefits

 

7

(18)

Dividends collected

 

151

134

Interest collected

 

4

11

Interest paid

 

(230)

(185)

Income taxes paid net of reimbursed tax credits (*)

 

(356)

(387)

Net cash flow from operating activities

 

1,826

1,486

- of which with related parties

(35)

1,681

1,555

Investments:

 

 

 

- Property, plant and equipment (**)

(13)

(772)

(852)

- Intangible assets

(14)

(77)

(102)

- Change in scope of consolidation and business units

 

(32)

(34)

- Equity investments

 

(165)

(24)

- Long-term financial receivables

 

(148)

(5)

- Change in payables and receivables relating to investments

 

(13)

(23)

Cash flow from investments

 

(1,207)

(1,040)

Divestments:

 

 

 

- Property, plant and equipment

 

2

 

- Long-term financial receivables

 

519

 

- Equity investments

 

21

36

Cash flow from divestments

 

542

36

Net cash flow from investment activities

 

(665)

(1,004)

- of which with related parties

(34)

(188)

(33)

Assumption of long-term financial debt

 

1,810

2,877

Repayment of long-term financial debt

 

(1,608)

(2,070)

Increase (decrease) in short-term financial debt

 

597

478

Change in current financial assets

 

350

 

Payment of lease liabilities

 

 

(6)

 

 

1,149

1,279

Acquisition of treasury shares

 

(426)

(39)

Dividends paid to Snam shareholders

 

(731)

(746)

Net capital contributions from third-party shareholders

 

 

3

Net cash flow from financing activities

 

(8)

497

- of which with related parties

(35)

(14)

 

Net cash flow for the period

 

1,153

979

Cash and cash equivalents at the beginning of the period

(8)

719

1,872

Cash and cash equivalents at the end of the period

(8)

1,872

2,851
to pagetop