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 (15 kB)

(million €)

Notes

2019

2020

PROFIT FOR THE YEAR

 

1,090

1,101

Adjustments reconciling profit for the year to cash flows from operating activities:

 

 

 

- Depreciation, amortisation and impairment losses on property, plant, equipment and intangible assets

(30)

752

773

- Share of profit or losses of equity investments accounted for using the equity method

(16)

(218)

(247)

- Dividends

(32)

(2)

(2)

- Other (income) expenses from equity investments

(32)

4

 

Net capital losses (capital gains) on asset sales, write-offs and eliminations

 

8

13

- Interest income

 

(11)

(25)

- Interest expense

 

190

159

- Income taxes

(33)

375

370

- Other changes

 

7

8

Change in net working capital:

 

 

 

- Inventories

 

(43)

(23)

- Trade receivables

 

38

(308)

- Trade payables

 

(28)

138

- Provisions for risks and charges

 

6

13

- Other assets and liabilities

 

(237)

(44)

Net cash outflow from net working capital

 

(264)

(224)

Change in provision for employee benefits

 

(18)

(9)

Dividends collected

 

134

241

Interest collected

 

11

22

Interest paid

 

(185)

(155)

Income taxes paid net of reimbursed tax credits

 

(387)

(428)

CASH FLOWS FROM OPERATING ACTIVITIES

 

1,486

1,597

- of which with related parties

(36)

1,555

1,233

Investments:

 

 

 

- Property, plant and equipment (*)

(14)

(852)

(1,001)

- Intangible assets

(15)

(102)

(165)

- Acquisition of subsidiaries and businesses, net of liquidity acquired

(24)

(41)

(30)

- Non current financial assets

 

(5)

(332)

- Equity investments (including those measured at FVTOCI, included in non-current financial assets)

 

(24)

(288)

- Change in payables and receivables relating to investments

 

(16)

53

Cash used in investments

 

(1,040)

(1,763)

Divestments:

 

 

 

- Property, plant and equipment

(14)

 

2

- Investments (including investments measured at Fair Value Through OCI, included in non-current financial assets)

 

36

95

- Non current financial assets

 

 

34

Cash generated from divestments

 

36

131

NET CASH OUTFLOW FROM INVESTING ACTIVITIES

 

(1,004)

(1,632)

- of which with related parties

(36)

(33)

(333)

Increase in non current financial liabilities

 

2,877

1,684

Decrease in non current financial liabilities

 

(2,070)

(2,091)

Increase/(decrease) in current financial liabilities

 

478

1,540

Change in short-term financial receivables

 

 

(5)

Repayment of financial payables for leased assets

 

(6)

(7)

Acquisition of treasury shares

 

(39)

(114)

Dividends distributed

(23)

(746)

(779)

Change in minority interests in subsidiaries not involving a change in control

 

3

 

CASH FLOWS FROM FINANCIAL ACTIVITIES

 

497

228

- of which with related parties

(36)

 

(5)

NET CHANGE IN CASH AND CASH EQUIVALENTS

 

979

193

Cash and cash equivalents at beginning of the period

(8)

1,872

2,851

Cash and cash equivalents at end of the period

(8)

2,851

3,044

(*)

For financial reporting purposes only, the flow includes: (i) the change in inventories of piping and related ancillary materials used in plant construction activities, referring to the natural gas transportation sector (-5 million euros and 3 million euros, respectively, for 2019 and 2020); (ii) subsidies on works for interference with third parties, so called compensation (14 million euros and 20 million euros, respectively, for 2019 and 2020).
to pagetop