MILANO – Revenues growing and operations currently sheltered from the Red Sea events, with the market reacting cautiously to Snam’s accounts (follow the title live).
In fact, Snam closes 2023 with revenues growing by 16.8% to 3.87 billion euros. The group’s adjusted net profit (i.e. net of extraordinary items) amounted to 1.168 billion (+0.4%), while the gross operating margin increased by 8% to 2.4 billion. Investments show a growth of 13.9% to 2.194 billion, of which 1.7 billion euros of technical investments (+31.3% compared to 2022). The debt stands at 15.27 billion (compared to 11.9 billion as of 31 December 2022), lower than the declared objectives. The dividend is increasing by 2.5% to 0.2820 euros per share (in line with the dividend policy envisaged in the 2022-2026 strategic plan).
“We are closing 2023 with solid results, achieved in a still volatile and uncertain global context, and with important milestones on the industrial front, starting with the activation of the regasification ship in Piombino”, he comments in a note Stefano Venier, CEO of Snam. “The main economic and financial indicators – he continues – record a positive performance and are improved compared to the guidance (the objectives, ndr), with a growth in technical investments of over 30% compared to the previous year”. For Venier “even the results on the emissions reduction and sustainable finance front are beyond expectations and ahead of objectives. We continue to implement our strategic ambition aimed at strengthening the country’s energy security and equipping it with a multi-molecule infrastructure capable of accelerating its energy transition path, through the most ambitious investment plan in Snam’s recent history.”
The group then reassures on the geopolitical framework. To date does not record “critical issues attributable” to the evolution of events in the Middle East and in particular in the Red Sea “regarding the management of operations and the implementation of the investment program” and “will continue to monitor the possible consequences and effects on the group’s activities”. Caution remains: “However, a possible, prolonged interruption of ship transits (for example LNG ships) from the Suez Canal in the current year could give rise to tensions at an international level, with the consequent impact on the prices of energy goods for which Italy, and Europe in general, are heavily dependent on foreign imports”. Such events “could have effects on the world economy, increasing production costs and further influencing economic stability and national and European growth, as well as the management of energy supply sources”.
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– 2024-03-15 03:31:39
