Snam announces its results for the first nine months of 2018
San Donato Milanese, 7 November 2018 – The Snam Board of Directors, which met yesterday under the chairmanship of Carlo Malacarne, has approved the consolidated results for the first nine months of 2018 (unaudited). The Board also resolved to distribute an interim dividend for 2018 of €0.0905 per share, with payment starting from 23 January 2019.
- Total revenue: €1,873 million (+€56 million; +3.1% compared with the first nine months of 2017, thanks to the continuation of the investment plan and the contribution of newly consolidated companies)
- Adjusted EBIT: €1,090 million (+€27 million; +2.5% compared with the first nine months of 2017)
- Adjusted net profit: €793 million (+€38 million; +5.0% compared with the first nine months of 2017)
- Technical investments: €564 million (€683 million in the first nine months of 2017)
- Free cash flow: €832 million
- Net financial debt: €11,738 million (€11,550 million as at 31 December 2017)
- 2018 interim dividend: €0.0905 per share
- Natural gas demand: 51.8 billion cubic metres, broadly in line compared with the first nine months of 2017 (-0.9%)
- Gas injected into the transportation network: 55.7 billion cubic metres (+0.4% compared with the first nine months of 2017)
- Available storage capacity: 12.4 billion cubic metres (+0.2 billion cubic metres compared with 30 September 2017), almost fully allocated as at 30 September 2018 (equal to 99.7% of the available capacity for the 2018-2019 thermal year)
- Completed the acquisition on 5 July 2018 for a value in the region of €4 million of 70% of IES Biogas, one of the primary Italian companies in the design, construction and management of biogas and biomethane production plants, and on 25 July 2018 for a value in the region of €12.6 million of the business unit dedicated to technological solutions for automotive natural gas fuelling stations of M.T.M., a Westport Fuel Systems Inc. group company;
- 77,930,479 Snam shares acquired in the first nine months of 2018 (equal to 2.25% of the share capital) for a total cost of €292 million;
- On 2 October 2018, the Board of Directors of Snam S.p.A. approved the annual renewal of the EMTN (Euro Medium Term Notes) programme launched in 2012 for a total maximum value of €10 billion, to be executed by 2 October 2019. The Board of Directors also approved a Euro Commercial Paper programme for a total maximum value of €1 billion, to be executed within 2 years.
 Net of pass-through items.
 For the reconciliation between reported EBIT and net profit and the corresponding adjusted figures, please refer to page 21 of this press release.
08 November 2018 - 14:56 CET