10 Years of Listing
7 billion euro invested, 4.7 billion in dividends distributed - equivalent to 73% of net profit - for a return of approximately 150% for those who the IPO subscribers. These are the numbers representing Snam’s 10 years on the market. The company was listed on the Italian Stock Market on 6 December 2001 following a very successful placement. The company’s decision was rewarded with a significant subscrption by private investors as well as high-profile national and international financial investors. Ten years after on the Milan Stock Exchange, Snam is a success story both in terms of the creation of value for its shareholders and the development of Italy’s economy.
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6 december 2001
- Stock exchange listing
- Completion of share buyback plan
- Entrance in the FTSE4Good sustainability index
- Capital increase to acquire Italgas and Stogit
- Entrance in the Dow Jones Sostainability Index
- Special dividend
- Start buyback plan
- ITC Model
DEAR SHAREHOLDERS AND STAKEHOLDERS,
December 6th is an important date for our company.
It is a date that brings us back to a defining moment in our history; the listing on the Stock Exchange in 2001, following the consolidation of all of Snam’s activities in transport, dispatching and regasification (GNL).
Ten years have passed, and in my opinion, Snam Rete Gas represents a success story, both in terms of value creation for our shareholders, as well as for the development of the country’s network.
These results have been achieved thanks to our being able to operate in a regulatory framework that is stable, transparent and incentivising.
A virtuous system, recognised at an international level, that we have tried to strengthen through continuous and pro-active dialogue with the Regulator.
I believe that more than words, it’s the numbers that are a true testimony of what we have achieved: thanks to investments of around € 7bn, the transport network in operation grew from 29,600 km to nearly 31,700 km, increasing the transport capacity by 50%; the volume of transported gas increased from around 70bn cubic metres in 2001, to over 83bn cubic metres in 2010. We manage 8 storage sites, 19 compressor stations, and 50,000 km of distribution network.
Since listing, Snam Rete Gas has consistently generated profits and has distributed dividends. Since 2001, Snam Rete Gas has distributed around € 4.7bn in dividends, corresponding to around 73% of net income on average. Those who subscribed to the shares during the initial offering have gained a significant return, equal to approximately 150%.
An extraordinary effort, which combined with our industrial tradition, and our culture of excellence across all of our workforce, has allowed us to respond to the country’s requests for a safer gas system with more flexible supply, and ensure attractive and sustainable returns to our shareholders.
All of this was achieved, whilst maintaining a well-rooted culture of sustainable development, and prioritising the quality and safety of our services.
Looking over the past decade, I’d also like to highlight the month of June 2009.
In an increasingly complex and competitive environment, we acquired the entire share capital of Stogit and Italgas from Eni creating, along with GNL, a single integrated group able to cover the entire chain of regulated activities in the Italian gas business.
The decision to integrate the four companies was made in line with the expectations of our main points of reference, the market and shareholders, the regulatory authorities, and other stakeholders.
The integration process can be viewed as a response to signs in the market that further value creation would be welcome. The market enthusiastically participated in a capital increase carried out at the completion of integration; a show of confidence, which in my opinion was the Group’s first success.
We have established a new entity which is a leader in Europe in terms of operational capacity and profile dimension.
The Authority will therefore be able to interact with a Group which is able to effectively, safely and efficiently face the issues that the continuously expanding and integrated energy markets will pose in coming years.
CAMPAGNA DI COMUNICAZIONE
December 6, 2011. It’s been ten years since Snam was fi rst listed on the Milan stock exchange. What better opportunity to talk about ourselves, our values and our goals. We may change our brand, but the integrated Snam system remains the same: transport, storage, regasifi cation and distribution of natural gas. We will continue to guarantee the reliability of Italy’s energy supply, paying special attention to the territory and the community, as well as assuring our commitment in terms of investment and technology. Our efforts will thus reinforce what has already become our role: to be the network of tomorrow. Our aim is to become the European hub, with infrastructure development at the core of our strategy. Snam. The network of the future, today.
14 September 2016 - 17:40 CEST