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Snam announces its results for the first nine months and third quarter of 2015

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San Donato Milanese, 28 October 2015 – Snam’s Board of Directors, chaired by Lorenzo Bini Smaghi, met yesterday and approved the consolidated results for the first nine months and the third quarter of 2015 (1) (unaudited).

Financial highlights

·      Total revenue: €2,748 million (+3.8%)

·       EBITDA: €2,108 million, in line with the first nine months of 2014

·        Adjusted net profit: €912 million (+5.7%)

·       Net cash flow from operating activities: €1,666 million (+52.1%)

Operating highlights

·       Gas injected into the transportation network: 49.86 billion cubic metres (+5.8%)

·       Number of active meters: 6.516 million (+2.1%)

·       Available storage capacity: 11.5 billion cubic metres (+0.1 billion cubic metres)

Significant events

·      New loan of €124 million granted by the European Investment Bank (EIB) on 30 September 2015  

 

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

“The first nine months of 2015 ended with adjusted net profit up by approximately 6% compared with the same period last year. Strong operating cash flow of approximately 1.7 billion euro allowed us to fully cover our investments and the 2014 dividend payment, whilst ensuring net debt stayed at the same level as 2014.

These results reinforce our objective of ensuring profitable and value accretive growth for shareholders through targeted capex and financial discipline, while maintaining a strong capital structure�?. 

 

(1) This press release constitutes the Interim Directors’ Report pursuant to Article 154-ter “ Financial reports�? of the Consolidated Finance Act (TUF).

 
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05 August 2016 - 16:19 CEST