Snam: net profit up 3.8% to 325 million euros in the first quarter of 2022
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Snam: net profit up 3.8% to 325 million euros in the first quarter of 2022

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  • Total revenues: 808 million euros(1) (+14.8% compared with the first quarter of 2021, reflecting growth in our regulated and energy transition businesses);
  • EBITDA: 588 million euros (+5.2% compared with the first quarter of 2021);
  • Group adjusted net profit:(2) 325 million euros (+3.8% compared with the first quarter of 2021, reflecting strong operating performance and an increase in the contribution of associates);
  • Capital expenditure: 223 million euros (231 million euros in the first quarter of 2021);
  • Net financial debt: 12,620 million euros (14,021 million euros at December 31 st, 2021), with the decline largely attributable to a temporary variation in working capital connected with balancing activities
 

San Donato Milanese (Milan), May 12 th, 2022 – The Board of Directors of Snam, meeting yesterday under the chairmanship of Monica de Virgiliis, approved the consolidated results for the first quarter of 2022 (unaudited).

 

Stefano Venier, Snam's CEO, remarked:

"Our first quarter results underscore the sound foundation of Snam's core business, our strong operating performance and the greater contribution of our associates; all factors which contributed to counterbalance effects from the measures of the new regulatory period relating to capital remuneration for the core business. Our transport, storage and regasification infrastructure confirms its key role in the current complex geopolitical environment. For this reason, the entire Snam team is working to take the necessary initiatives to contribute to the security and to support the diversification of energy supply in Italy and in the territories in which we operate, while remaining committed to enabling the energy transition and achieving our carbon neutrality goals, in the interest of all our stakeholders".

  

(1) Net of "energy costs" (cost of gas needed for network operation).

(2) Excluding non-controlling interests.

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updated
01 August 2022 - 22:56 CEST