Snam: Net Profit 8.3% up in the first quarter of 2021
Login    

Snam: Net Profit 8.3% up in the first quarter of 2021

Price sensitive

Snam Company

  • Total Revenues: 717 million euros (+5.6% compared to the first quarter of 2020 pro-forma, mainly attributable to the growth in the energy transition businesses);
  • EBITDA: 559 million euros (+0.7% compared to the first quarter of 2020 pro-forma);
  • Net Profit: 313 million euros (+8.3% compared to the first quarter of 2020 pro-forma due to higher contributions from associates and to activities carried out to optimise the financial structure);
  • Technical Investments: 231 million euros (+5% compared with 220 million euros in the first quarter of 2020);
  • Net Financial Debt: 13,709 million euros (+822 million euros compared to 31st December 2020, mainly as a result of the acquisition of equity investments made during the period and the payment of the 2020 interim dividend).
 

San Donato Milanese (Milan), 12th May 2021 - The Board of Directors of Snam met yesterday under the chairmanship of Nicola Bedin and approved the consolidated results for the first quarter of 2021 (unaudited).

 

Marco Alverà, Snam's CEO, commented: "Results posted in the first quarter of 2021 confirm Snam's growth path, thanks to the soundness of our core business, and the important contribution from new associate companies such as De Nora. Our work to optimise the financial structure continues through the issuance, in February 2021, of transition bonds for further 750 million euros, whereas our commitment towards sustainable finance is further strengthened by its contribution now representing 50% of the total.

We have increased our investments, exceeding 230 million euros in the quarter, thereby contributing to Italy's economic recovery. We are implementing our initiatives in the hydrogen segment - from the certification of the transport network to the launch of new projects - as well as in energy efficiency, biomethane and sustainable mobility to support the ongoing ecological transition and the achievement of domestic and European climate targets. Commitment to the environment and ESG factors, in general, are at the core of our strategies to achieve sustainable success in the interests of all our stakeholders".

 
Page Alert
updated
13 May 2022 - 12:01 CEST