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Snam announces results for the first half of 2012

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San Donato Milanese, 31 July 2012 – The Snam Board of Directors, at yesterday’s meeting chaired by Salvatore Sardo, approved the consolidated half-year report to 30 June 2012 (subjected to a limited audit) and examined the consolidated results for the second quarter of 2012 (unaudited). The Board also resolved to distribute an interim dividend for 2012 of € 0.10 per share.

 

Financial highlight

  • Total revenue: €1,716 million (+7.7%)
  • EBIT: €1,013 million (+2.7%)
  • Net profit: €508 million (-11.8%)
  • Investments: €524 million
  • Interim dividend: €0.10 per share
 

Operating highlight

  • Gas injected into the transportation network: 40.88 billion cubic metres (-2.5%)
  • Number of active meters: 5.907 million (+0.6%)
  • Available storage capacity allocated: 10.7 billion cubic metres (+7.0%)

  

Carlo Malacarne, Snam CEO, made the following comments on the results:

 “Thanks to the robust operating performance of the various businesses, we have confirmed a sound growth in the first half of 2012, as shown by the 3% increase in EBIT. The reduction in net income in the period is entirely due to the increase in tax as a result of the Robin Hood Tax.

The soundness of our business has also been confirmed by the signing of new credit lines which has enabled us to meet our financial needs for the plan period, and by the significant results obtained on the bond market, both in terms of the amount raised and the satisfying conditions obtained despite the highly volatile situation in the capital markets.

The results achieved and our projected growth and future profitability, allow as to distribute an interim dividend in 2012 of €0.10 per share, thereby maintaining an attractive and sustainable level of remuneration for our shareholders�?.

 
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updated
05 August 2016 - 16:19 CEST