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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.

Over the 2019- 2023 period Snam will invest € 6.5 bn across the businesses. The tariff RAB will grow at >2% 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 to 2023 of 4% CAGR.

  •  
  • Guidance 2020
  • Targets
  • INVESTMENTS
  • € ~1.1 bn
  • € 6.5 bn 2019-2023
  • TARIFF RAB
  • € ~20.6 bn
  • >2% CAGR 2019-2023
  • Net income
  • ~1,100 mln
  • 4% CAGR 2018-2023
  • EPS
  •  
  • 5.5% CAGR 2017-2023
  • DPS
  • € cent 24.95
  • 5% growth 2017-2022
  • Net debt
  • € ~12.4 bn
  • Debt/RAB broadly stable

 

INVESTMENTS (€ Mln)

Snam has forecast an increase in investments for the period 2019-2023, bringing them up to € 6.5 bn, approximately 14% more than the € 5.7 bn of the 2018-2022 plan. The growth is attributable both to the new energy transition businesses and to the increase in investments in replacements. In detail, € 5.3 bn of the investments concern the transportation network, €0.8 bn refer to storage and regasification and  € 0.4 bn to the new businesses linked to the energy transition.

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* Investments post separation of gas distribution activity (Italgas)

DIVIDEND PER SHARE (€ cent)

Snam confirms its commitment to guarantee shareholders an attractive and sustainable remuneration. The dividend growth is expected to be 5% per year up to 2022, confirming the previous target. Snam expects that for the year 2019 a total dividend of € 0.2376 per share may be distributed in 2020 (of which 40% as an advanced payment in January 2020 while the remaining 60% will be settled in June 2020).

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updated
06 December 2019 - 11:29 CET