NOTES TO THE FINANCIAL STATEMENTS continued
04. Segment information:// CONTINUED
REGULATED NETWORKS $M
GAS TRADING $M
INTER- SEGMENT $M
TECHNOLOGY $M
TOTAL $M
2018
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
(220.6)
–
– –
– – – – – –
(220.6) (187.1)
Gas purchases and production expenses
– –
(187.1)
Technology cost of sales
–
(78.5) (12.4) (31.4) (18.7)
(78.5) (87.7) (59.9) (98.7)
Network and asset maintenance Employee benefit expenses
(58.4) (15.1) (46.5)
(16.9) (13.4) (33.5)
Other expenses
Intersegment expenses
(6.8)
(5.0)
(0.8)
12.6 12.6
–
Segment operating expenses
(347.4)
(255.9)
(141.8)
(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.
PROFIT/(LOSS) BEFORE INCOME TAX $M
Reconciliation to revenue, profit/(loss) before income tax and capital expenditure reported in the financial statements: 2018
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
75
Vector://AR 18
Made with FlippingBook flipbook maker