Reclassified income statement
In order to facilitate the reading of the Income Statement, taking into consideration the nature of Snam S.p.A. as an industrial holding company, the Reclassified Income Statement was prepared by presenting items relating to financial management first, because they represent the most important component of an income nature40.
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2018 |
|
(million of €) |
2019 |
2020 |
Var, ass |
% change |
|---|---|---|---|---|---|---|
|
|
Income and financial expenses |
|
|
|
|
775 |
|
Income from equity investments |
898 |
1,124 |
226 |
25.2 |
213 |
|
Interest receivable and other financial income |
159 |
151 |
(8) |
(5.0) |
(249) |
|
Interest payable and other financial expenses |
(211) |
(178) |
33 |
(15.6) |
(2) |
|
Losses from derivative contracts |
(1) |
(10) |
(9) |
|
737 |
|
Total financial income and expenses |
845 |
1,087 |
242 |
28.6 |
213 |
|
Revenues from the provision of services |
227 |
260 |
33 |
14.5 |
14 |
|
Other income |
15 |
15 |
|
|
227 |
|
Other business income |
242 |
275 |
33 |
13.6 |
|
|
Other management costs |
|
|
|
|
(94) |
|
For personnel |
(88) |
(90) |
(2) |
2.3 |
(146) |
|
For the provision of non-financial services and other costs |
(186) |
(253) |
(67) |
36.0 |
(240) |
|
Total other management costs |
(274) |
(343) |
(69) |
25.2 |
724 |
|
Pre-tax profit |
813 |
1,019 |
206 |
25.3 |
(3) |
|
Income tax |
4 |
(4) |
(8) |
|
721 |
|
Net profit |
817 |
1,015 |
198 |
24.2 |
Net profit in 2020 amounted to 1,015 million euros, up by 198 million euros or 24.2% compared with 2019. The increase is due mainly to the greater financial income and expense (+242 million euros or +28.6%) essentially following the greater income from equity investments (+226 million euros or +25.2%), partly offset by the increase in other management costs (-69 million euros or 25.2%), mainly attributable to greater financial expense for the provision of non financial services and other costs (-67 million euros or 36%).
40 This statement was prepared on the basis of the suggestions reported in Consob Communication no. 94001437 of 23 February 1994.