Snam announces increasing results for the first nine months of 2019
- Total revenue: €1,954 million (+€81 million; +4.3% compared with the first nine months of 2018);
- EBITDA: €1,661 million (+€65 million; +4.1% on adjusted EBITDA for the first nine months of 2018), also due to operating cost control;
- EBIT: €1,125 million (+€35 million; +3.2% on adjusted EBIT for the first nine months of 2018), thanks primarily to the positive performance of the transportation business segment;
- Net profit: €867 million (+€74 million; +9.3% compared with the first nine months of 2018) due to the positive operating performance, the reduction in financial expense and greater net income from equity investments;
- Technical investments: €650 million (compared to €564 million in the first nine months of 2018), including €113 million invested in innovation and energy transition (Snamtec);
- Net financial debt: €11,871 million (€11,548 million at 31 December 2018);
- 2019 interim dividend €0.095 per share.
San Donato Milanese, 14 November 2019 – The Snam Board of Directors, which met yesterday under the chairmanship of Luca Dal Fabbro, approved the consolidated results for the first nine months of 2019 (unaudited). The Board also resolved to distribute an interim dividend for 2019 of €0.095 per share, with payment starting from 22 January 2020.
Marco Alverà, Snam's CEO, commented:
“The results of the first nine months confirm Snam’s growth, with an almost 10% increase in net income due to the positive performance of our core business, the development of our associates and the continuous optimization of our financial structure. We continue to create value for our shareholders, with attractive remuneration in line with the strategic plan targets, as shown by the interim dividend we are announcing today.
Our infrastructure holds a central role in the decarbonisation process, guaranteeing system flexibility and supply security, as highlighted by the 16% increase in volumes in the thermoelectric sector in the nine months, on the back also of a favorable price dynamic that supported the replacement of coal generation with gas. The recent agreement for the acquisition of 49.07% of the OLT regasification terminal demonstrates our commitment to investing in Italy.
Our focus on innovation and the energy transition is getting stronger, with around 20% of our investments dedicated to Snamtec. We are working for the energy network of the future that is more modern, sustainable and integrated with the territories and by the end of the year we expect to double our hydrogen trials, bringing the blend to 10%”.
 Net of pass-through items.
14 November 2019 - 16:12 CET