Vector Interim Report 2020 ― Group Condensed Interim Financial Statements
NOTES TO THE INTERIM FINANCIAL STATEMENTS
4. Segment information Segments
Vector reports on three reportable segments in accordance with NZ IFRS 8 Operating Segments . A review of the reportable segments in the current year resulted in the following changes from the 30 June 2019 reporting period: ‒ The Technology segment, which included the metering services, telecommunications and new energy solutions businesses is no longer a reportable segment; ‒ The Metering services business is disaggregated from the Technology segment to form a new and single reportable segment Metering; ‒ The telecommunications and new energy solutions businesses have been removed from segment reporting. These businesses do not satisfy the criteria to be reported as a reportable segment. The current reportable segments are therefore:
Regulated Networks
Auckland electricity and gas distribution services.
Gas Trading
Natural gas and LPG sales, storage and processing, and cogeneration.
Metering Metering services. The processing and cogeneration businesses in Gas Trading will cease at completion of the sale of Vector’s Kapuni gas interests (refer to Note 3). Prior periods segment information have been restated to reflect the changes in the segments.
― 24
Made with FlippingBook Publishing Software