Login    

Snam Rete Gas: The Board of Directors Approves Half Year Results Showing Net Profit of Euro 226 Million

Price sensitive

The Snam Rete Gas Board of Directors today approved the first half report as at 30 June 2002.
The consolidated profit and loss account shows an EBIT of euro 419 million and a net profit of euro 226 million; half year results had already been released on 30th of July 2002, when second quarter results had been approved.

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

In the following page the summary consolidated income statement and balance sheet are attached.

San Donato Milanese, 11th September 2002



 

CONSOLIDATED INCOME STATEMENT

  

(million euro)

   

First half 2002

REVENUE FROM ORDINARY ACTIVITIES

889

OTHER REVENUE AND INCOME

11

TOTAL REVENUE

900

OPERATING COSTS

(255)

EBITDA

645

DEPRECIATION & AMORTIZATION

(226)

EBIT

419

NET FINANCIAL INCOME (EXPENSES)

(78)

INCOME BEFORE EXTRAORDINARY ITEMS AND TAXES

341

NET EXTRAORDINARY INCOME (EXPENSES)

(6)

PRE-TAX INCOME

335

INCOME TAXES

(109)

NET INCOME FOR THE PERIOD

226



CONSOLIDATED BALANCE SHEET

   

  

    (million euro)

   

31/12/2001

30/06/2002

Change

TANGIBLE ASSETS

9.467

9.359

(108)

INTANGIBLE ASSETS

87

102 15

NET PAYABLES RELATING TO INVESTING ACTIVITIES

(129)

(131)

(2)

FIXED CAPITAL

9.425

9.330

(95)

NET WORKING CAPITAL

(12)

(224) (212)

EMPLOYEES' SEVERANCE INDEMNITY

(17)

(16) 1

NET CAPITAL EMPLOYED

9.396

9.090 (306)

SHAREHOLDERS' EQUITY

5.203

5.246 43

NET DEBT

4.193

3.844

(349)

FINANCING

9.396

9.090 (306)

Page Alert
updated
05 August 2016 - 16:17 CEST