Snam Rete Gas: Board of Directors approves the 2006 interim report
San Donato Milanese, 18 September 2006 - The Board of Directors of Snam Rete Gas today approved the 2006 interim report. The consolidated income statement showed an operating profit of 472 million Euros and a net profit of 240 million Euros. The half-year results were released on 27 July 2006, when the Board of Directors approved the second quarter report as at 30 June 2006.
The 2006 interim report includes financial statements for the parent company Snam Rete Gas S.p.A. (balance sheet, income statement, statement of changes in shareholders’ equity and cash flow statement) drawn up in accordance with the International Financial Reporting Standards (IFRS), whose application by listed companies has been compulsory since the beginning of 2006. IFRS principles were applied also top interim and full-yeas 2005 data for comparison.
The interim report has been submitted to the Statutory Auditors and to the Company’s Independent Auditors.
The consolidated income statement and balance sheet as at 30 June 2006 are attached.
Purchase of own shares
Snam Rete Gas is continuing the implementation of its buy back plan, as authorised at the Shareholders' Meeting held on 10 November 2005. The plan authorises the purchase of up to 194,737,950 Snam Rete Gas shares for a total amount not exceeding 800 million Euros. As of 15 September 2006, 74,646,797 Snam Rete Gas ordinary shares had been purchased (corresponding to approximately 3.82% of share capital) at an average price of 3.56 Euros for a total amount of approximately 266 million Euros.
The Board of Directors of Snam Rete Gas has also approved a free increase in share capital of 51,400.00 Euros in execution of the stock grant plan for the 2003.
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05 August 2016 - 16:18 CEST