Snam Rete Gas contributes to sustainable development through the economic growth of the context in which it operates, generating wealth and distributing it to its stakeholders. The added value, which is the wealth the company generates in the course of its activities, was calculated, fitting for Snam Rete Gas Group peculiarities the principles of the Corporate Financial Statements study Group, as the difference between the production value and the intermediate costs associated with it (consumption of raw materials, consumables, costs for services, use of third-party assets, provisions for risk, other provisions, other costs). The Total Added Value net of amortisation is the configuration chosen for these Financial Statements.
The determination of the added value is shown below.
| GLOBAL ADDED VALUE |
|---|
| Core business revenues |
2,438 |
| Other revenues and income |
30 |
| Purchases, provision of services and other costs (*) |
384 |
| Net financial expenses |
75 |
| Net incomes on equity investments |
22 |
| Increases due to internal works – Cost of work and financial expenses |
118 |
| Gross global added value |
2,149 |
| for deduction |
|
| Amortisation and depreciations |
613 |
| Net global added value |
1,536 |
(*) Net of investments costs
BREAKDOWN OF ADDED VALUE 2009 (%)
The net global added value is then broken down amongst the different beneficiaries in the following way: (i) employees (direct remuneration consisting of salaries, wages and severance pay, indirect remuneration consisting of social expenditure, as well as costs for personnel-related services (canteen services, travel expenses reimbursement etc.); (ii) Public Administration (income tax); (iii) financial backers (interest for the availability of credit capital); (iv) shareholders (distributed dividends); company (amount of reinvested profit).
In 2009 Snam Rete Gas distributed € 1,536 million (63% of revenues) to its stakeholders. The added value was distributed: 44% to shareholders (€675 million), 22.6% to Public Administration (€347 million), 18.9% to employees (€291 million), 10.8% to financial backers (€166 million), and the remaining 3.7% (€ 132 million) was reinvested in business activities.
