NOTES TO THE FINANCIAL STATEMENTS
03. Segment information:// CONTINUED
REGULATED NETWORKS $000
INTER- SEGMENT $000
GAS TRADING $000
TECHNOLOGY $000
TOTAL $000
2016
External revenue: Sales
671,234 48,903
277,098
166,977
(22,661)
1,092,648
Third party contributions
– –
915
–
49,818
Intersegment revenue
6,082
12,162 180,054
(18,244) (40,905)
–
Segment revenue
726,219
277,098
1,142,466
External expenses: Electricity transmission expenses
(209,740)
–
– –
–
(209,740) (154,969) (19,435) (80,649) (49,933) (55,295) (570,021) 572,445 (179,959) (64,000) 328,486 –
Gas purchases and production expenses
– –
(176,512)
21,543
Technology cost of sales Asset maintenance expenses Employee benefit expenses
–
(19,465) (12,737) (18,016) (13,436) (1,944) (65,598) 114,456 (66,642)
30
(47,880) (17,963) (22,562) (10,638) (308,783) 417,436 (100,837)
(21,120) (13,954) (19,297) (5,662) (236,545) 40,553 (12,480) (64,000) (35,927)
1,088
– –
Other expenses
Intersegment expenses
18,244 40,905
Segment operating expenses
Segment EBITDA
– – – –
Depreciation and amortisation Impairment of goodwill and assets
–
–
Segment profit/(loss)
316,599
47,814
Segment capital expenditure
200,994
15,255
95,113
–
311,362
The intersegment eliminations include $22.7 million of transactions between continuing and discontinued operations which have been eliminated on consolidation. During the year, the Technology segment procured and sold $11.9 million of battery assets to Regulated Networks at zero margin. The battery assets are included in the segment capital expenditure for Regulated Networks. The impact of the sale transaction is not reflected in the segment information presented for Technology.
PROFIT/ (LOSS) BEFORE INCOME TAX $000
Reconciliation to revenue, profit/(loss) before income tax and capital expenditure reported in the financial statements: 2016
CAPITAL EXPENDITURE $000
REVENUE $000
Reported in segment information
1,142,466
328,486
311,362
Amounts not allocated to segments (corporate activities): Revenue
2,137
2,137
– – – – – – – –
Employee benefit expenses Other operating expenses Depreciation and amortisation
– – – – – – – –
(26,500) (25,243) (14,621) (168,805)
Interest costs (net)
Fair value change on financial instruments Associates (share of net profit/(loss)) Reversal of impairment of investment in associate
2,344 2,809 2,578
Capital expenditure
–
11,259 322,621
Reported in the financial statements
1,144,603
103,185
87
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