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  4. Results by business area for 2018 and 2017

Results by business area for 2018 and 2017

Results for 2018 (1)

Milions of EuroItalyIberiaSouth AmericaEurope and EuroMediterranean AffairsNorth and Central AmericaAfrica, Asia e OceaniaOther, eliminations and adjustmentsTotal
Revenue from third parties37,41119,41314,6872,3491,43810027475,672
Revenue from transactions with other segments987795512-1(1,134)-
Total revenue38,39819,49214,7422,3611,438101(860)75,672
Net income/(expense) from commodity contracts measured at fair value410642(1)8--483
Gross operating margin7,3043,5584,37051670854(159)16,351
Depreciation, amortization, and impairment losses2,8061,8341,3949625444236,451
Operating income4,4981,7242,97642045410(182)9,900
Capital expenditure2,479 (2)1,4332,2463901,373 (3)142898,152

(1) Segment revenue include both revenue from third parties and revenue flows between the segments. An analogous approach was taken for other income and costs for the year
(2) Does not include €3 million regarding units classified as “held for sale”
(3) Does not include €375 million regarding units classified as “held for sale”

Risultats for 2017 (1)

Milions of EuroItalyIberiaSouth AmericaEurope and EuroMediterranean AffairsNorth and Central AmericaAfrica, Asia e OceaniaOther, eliminations and adjustmentsTotal
Revenue from third parties37.90019.94013.1262.3741.185961874.639
Revenue from transactions with other segments8815428372-(1.002)-
Total revenue 38.78119.99413.1542.4111.18796(984)74.639
Net income/(expense) from commodity contracts measured at fair value5371326-2--578
Gross operating margin6.8633.5734.20454375957(346)15.653
Depreciation, amortization and impairment losses2.3931.7311.23423720642185.861
Operating income4.4701.8422.97030655315(364)9.792
Capital expenditure1.8121.1053.002307(2)1.802 (3)30728.130

(1) Segment revenue include both revenue from third parties and revenue flows between the segments. An analogous approach was taken for other income and costs for the year.
(2) Does not include €44 million regarding units classified as “held for sale”
(3) Does not include €325 million regarding units classified as “held for sale”

In addition to the foregoing, the Group monitors performance at the Global Business Line level, classifying results by Business Line.

The following table presents the gross operating margin for the two periods under review, offering visibility of performance not only from a Region/ Country perspective but also by Business Line.

Gross operating margin

Local businesses
Milions of EuroEnd-user marketsServicesThermal Generation and TradingInfrastructure and Networks
201820172018/17201820172018/17201820172018/17201820172018/17
Italy2,2332,007226119962322239(217)3,6793,467212
Iberia676467209803842425783(358)19652,086(121)
South America---(104)(87)(17)469687(218)1,9211,687234
Argentina---(1)(1)-1421162615714017
Brazil---(42)(39)(3)7119(112)915644271
Chile---(61)(47)(14)124281(157)24723710
Colombia------51438406461(55)
Peru------14512817196205(9)
Other countries------------
Europe and EuroMediterranean Affairs12(42)5415(4)233269(36)152166(14)
Romania12(42)5412(1)-2(2)152166(14)
Russia----3(3)233267(34)---
Slovakia------------
Other countries------------
North and Central America-8(8)---(6)-(6)---
United States and Canada-8(8)---(6)-(6)---
Mexico------------
Panama------------
Other countries------------
Africa, Asia e Oceania------------
South Africa------------
India------------
Other countries------------
Others---(11)-(11)(26)(15)(11)(20)(28)8
Total2,9212,4404818552331,1171,963(846)7,6977,378319