Company targets and achievements
In the 2021-2025 period, Snam is expected to achieve sustainable growth in key indicators. This growth is expected to further accelerate to 2030 through the contribution of new investments.
The guidance on the group’s 2022 net profit, in view of the positive results achieved in 2021 and the reduction in WACC for the new regulatory period, is confirmed at around 1.1 billion euros, assuming the stability of the De Nora share and the contribution made by Austrian associates, a constant gas demand and output based incentives of 40 million euros. Net financial debt expected by end 2022 at approximately €14.8 bn, taking into account planned investments of €1.5 bn in the year, of working capital absorption of 0.3 bn, of cash out for acquisition of the stakes in TMPC and TTPC for 0.4 bn, and 0.6 bn of positive contribution deriving from the optimisation of the capital structure of an associate and the conversion of the convertible bond which expires next year. Tariff RAB will reach €21.4 bn in 2022.
- Guidance 2022
- 2021-2025 Plan
- €1.5 bn (1.2 bn capex regulated, 0.3 bn green energy projects)
- €8.1 bn 2021-2025
- TARIFF RAB
- €21.4 bn
- >2.5% CAGR 2021-2025
- Net income
- €1.1 bn
- ~3% CAGR 2022-2025
- Net debt
- €14.8 bn
- <70% Net debt/Fixed asset (including book value of associates)
INVESTMENTS (€ Mln)
* Investments post separation of gas distribution activity (Italgas)
DIVIDEND PER SHARE (€ cent)
Snam confirms its commitment to guarantee to shareholders an attractive and sustainable remuneration and the payment of an interim dividend. The growth of the dividend per share of 5% until 2022 is confirmed, with a minimum growth of 2.5% in 2022-2024, extended to 2025.
Snam expects that in 2022 an overall divided of 0.2620 euros per share will be distributed on full year 2021 results (of which 40% as an interim dividend with payment in January 2022 as resolved by the Board of Directors last November 3rd and the remaining 60% as a balance with payment in June, to be submitted to the Shareholders' Meeting that will approve the 2021 financial statements).
06 April 2022 - 11:09 CEST