Company targets and achievements
Snam always aims to guarantee the achievement of its financial targets; the Company is pursuing a sustainable growth model, aimed at value creation and growing asset returns, supported by economic results. Since 2001, the listing year, to 2017 Snam has achieved significant financial goals, distributing dividends amounting to around €11.3 bn.
In 2017- 2021 strategic plan Snam will invest €5.0 billion across the businesses. The regulated asset base will grow at 1% thanks to the significant capex plan that will be deployed during the plan period. This combined with cost control, the contribution of additional income from Snam’s associates, the reduction in cost of debt and balance sheet management, will support an expected net income growth of 4% CAGR.
- Guidance 2017
- € ~1.3* bn
- € 5.0* bn 2017-2021
- CONSOLIDATED RAB
- € ~19.8 bn
- 1% CAGR to 2021
- Net income
- € 0.9 bn
- 4% CAGR to 2021
*Including TAP equity investment
Over the 2017-2021 period Snam will invest 5 billion euro, of which 4.7 billion euro will be deployed to further develop the Italian gas network and its interconnection with the European infrastructure system, and 270 million euro will be invested in TAP, thus enhancing the security, flexibility and liquidity of the overall gas system. This target will be achieved mainly through the completion of the reverse flow infrastructure, the 55 km-long pipeline that will connect TAP from its landing point onshore in Italy to the existing network, along with the further development of the Fiume Treste storage field. Snam will also support the roll-out of 300 CNG filling stations throughout Italy.
* Investments post separation of gas distribution activity (Italgas)
DIVIDEND PER SHARE
Snam equity story is underpinned by growth and dividend to drive a top ranking Total Shareholder Return. Healthy results achieved in fiscal year 2016 and solid business fundamentals have led the Board of Directors to propose to the Shareholders Meeting, called for 11 April 2017, to resolve upon the distribution of a dividend of € 0.21 per share, distributed in one solution in May 2017, confirming Snam’s commitment to an attractive and sustainable remuneration of its shareholders over time.
08 March 2017 - 14:18 CET