Vector Interim Report 2019

NOTES TO THE INTERIM FINANCIAL STATEMENTS

4. SEGMENT INFORMATION (continued)

INTER- SEGMENT $M

REGULATED NETWORKS $M

TOTAL $M

GAS TRADING $M

TECHNOLOGY $M

30 JUN 2018 12 MONTHS

External revenue: Sales

684.6

290.3

263.9

– 1,238.8

Third party contributions

70.2 17.2

– – –

1.3

– –

71.5 17.2

Other

Intersegment revenue

4.2

8.4

(12.6) (12.6)

Segment revenue

776.2

290.3

273.6

1,327.5

External expenses: Electricity transmission expenses Gas purchases and production expenses Network and asset maintenance expenses Employee benefit expenses Technology cost of sales

(220.6)

(220.6)

– –

(187.1)

– –

(187.1)

(78.5)

(78.5)

(58.4) (15.1) (46.5)

(16.9) (13.4) (33.5)

(12.4) (31.4) (18.7)

– – –

(87.7) (59.9) (98.7)

Other expenses

Intersegment expenses

(6.8)

(5.0)

(0.8)

12.6

Segment operating expenses

(347.4)

(255.9)

(141.8)

12.6 (732.5)

Segment EBITDA

428.8

34.4

131.8

– – –

595.0

Depreciation and amortisation

(115.0)

(20.7)

(76.2)

(211.9)

Segment profit/(loss)

313.8

13.7

55.6

383.1

Segment capital expenditure

245.8

17.1

93.7

356.6

During the year, the Technology segment delivered technology related network projects for Regulated Networks at a margin of $0.7m. The assets are included in the segment capital expenditure for Regulated Networks. The $0.7m margin is included in the segment information presented for Technology and has been eliminated in the reconciliation below.

Reconciliation to revenue, profit/(loss) before income tax and capital expenditure reported in the financial statements: 30 JUN 2018

PROFIT/ (LOSS) BEFORE INCOME TAX $M

CAPITAL EXPENDITURE $M

REVENUE $M

Reported in segment information

1,327.5

383.1

356.6

Amounts not allocated to segments (corporate activities): Revenue

0.9

0.9

– – – – – – – –

Employee benefit expenses Other operating expenses

– – – – – – – –

(28.6) (25.0)

Elimination of margin on inter–segment transaction

(0.7)

Depreciation and amortisation

(14.0)

Interest costs (net)

(130.7)

Fair value change on financial instruments Associates (share of net profit/(loss))

3.1

(1.5)

Capital expenditure

24.6

Reported in the financial statements

1,328.4

186.6

381.2

43

Vector://IR 19

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