Vector AR’19 ― notes to the financial statements (continued)
4. Segment information CONTINUED
REGULATED NETWORKS $M
GAS TRADING $M
INTER- SEGMENT $M
TECHNOLOGY $M
TOTAL $M
2019
External revenue: Sales
676.8
284.1
269.2
– – –
1,230.1
79.0
– – –
0.3
79.3
Third party contributions
8.8 4.5
–
8.8
Other
5.3
(9.8) (9.8)
–
Intersegment revenue
Segment revenue
769.1
284.1
274.8
1,318.2
External expenses: Electricity transmission expenses
(209.6)
–
– –
– – – – – –
(209.6) (179.2)
– –
(179.2)
Gas purchases and production expenses
–
(68.3) (11.0) (28.5) (23.2)
(68.3) (88.7) (58.4) (94.4)
Technology cost of sales
(60.6) (16.3) (32.8)
(17.1) (13.6) (38.4)
Network and asset maintenance
Employee benefit expenses
Other expenses
(3.8)
(4.5)
(1.5)
9.8 9.8
–
Intersegment expenses
Segment operating expenses
(323.1)
(252.8)
(132.5)
(698.6)
Segment EBITDA
446.0
31.3
142.3
– – –
619.6
(122.4)
(15.6)
(91.4)
(229.4)
Depreciation and amortisation
Segment profit/(loss)
323.6
15.7
50.9
390.2
Segment capital expenditure
260.9
11.8
127.3
–
400.0
During the year, the Technology segment delivered technology related network projects for Regulated Networks at a margin of $0.1 million. The assets are included in the segment capital expenditure for Regulated Networks. The $0.1 million margin is included in the segment information presented for Technology and has been eliminated in the reconciliation below.
PROFIT/(LOSS) BEFORE INCOME TAX $M
Reconciliation to revenue, profit/(loss) before income tax and capital expenditure reported in the financial statements: 2019
CAPITAL EXPENDITURE $M
REVENUE $M
Reported in segment information
1,318.2
390.2
400.0
Amounts not allocated to segments (corporate activities): Revenue
0.4
0.4
– – – – – – – – –
– – – – – – – – –
(46.6) (30.8) (24.0)
Impairment
Employee benefit expenses Other operating expenses
(0.1)
Elimination of margin on inter-segment transaction
(17.4)
Depreciation and amortisation
(133.3)
Interest costs (net)
(2.5)
Fair value change on financial instruments
0.6
Associates (share of net profit/(loss))
–
25.1
Capital expenditure
Reported in the financial statements
1,318.6
136.5
425.1
― 60
Made with FlippingBook HTML5