Snam Rete Gas: The Board of Directors Approves Half Year Results Showing Net Profit of Euro 259 Million
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) |
05 August 2016 - 16:17 CEST