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Snam Rete Gas: The Board of Directors Approves Half Year Results Showing Net Profit of Euro 259 Million

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Snam Rete Gas Board of Directors today approved the first half report as at June 30th, 2003.

The consolidated profit and loss account shows an EBIT of euro 493 million and a net profit of euro 259 million. The half year results were released on July 30th, 2003, when the Board approved the second quarter results.

Interim financial accounts have been subjected to a limited review by the Company’s Independent Auditors and submitted to the Statutory Auditors.

The consolidated income statement and balance sheet are attached.


 

CONSOLIDATED INCOME STATEMENT

Million euro

 

1 half 2002

1 half 2003

REVENUE FROM ORDINARY ACTIVITIES

889

894

OTHER REVENUE AND INCOME

11

3

TOTAL REVENUE

900

897

OPERATING COSTS

(255)

(172)

EBITDA

645

725

DEPRECIATION & AMORTIZATION

(226)

(232)

EBIT

419

493

NET FINANCIAL INCOME (EXPENSES)

(78)

(66)

INCOME BEFORE EXTRAORDINARY ITEMS AND TAXES

341

427

NET EXTRAORDINARY INCOME (EXPENSES)

(6)

1

PRE-TAX INCOME

335

428

INCOME TAXES

(109)

(169)

NET INCOME FOR THE PERIOD

226

259


 

 

CONSOLIDATED BALANCE SHEET


 

Million euro

 

31/12/02

30/06/03

Var.

TANGIBLE ASSETS

9.313

9.250

(63)

INTANGIBLE ASSETS

106

96

(10)

NET PAYABLES RELATING TO INVESTING ACTIVITIES

(131)

(121)

10

FIXED CAPITAL

9.288

9.225

(63)

NET WORKING CAPITAL

(264)

(445)

(181)

EMPLOYEES' SEVERANCE INDEMNITY

(17)

(18)

(1)

NET CAPITAL EMPLOYED

9.007

8.762

(245)

SHAREHOLDERS' EQUITY

5.451

5.397

(54)

NET DEBT

3.556

3.365

(191)

FINANCING

9.007

8.762

(245)



 

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updated
05 August 2016 - 16:17 CEST