(Finance) – Snam closes the first quarter of the year with total revenue equal to 808 million euros, an increase of 14.8% compared to the first quarter of 2021, due to the “growth of the regulated businesses and the energy transition businesses”.
The Gross operating margin (EBITDA) stood at 588 million euros (+ 5.2% compared to the first quarter of 2021), while theNet income adjusted of the group amounted to 325 million euros, up 3.8% compared to the first quarter of 2021, due to the “positive operating performance and the growth in the contribution of investee companies”.
L’Net financial debt of 12,620 million euros compared with 14,021 million at December 31, 2021, in reduction mainly due to the temporary change in working capital connected with balancing activities.
“The first quarter results show the solidity of Snam’s core businessthe positive operating performance and the greater contribution of investee companies, elements that made it possible to offset the effects deriving from the provisions of the new regulatory period on the subject of remuneration of capital for core activities – he commented Stefano Venier, Chief Executive Officer by Snam -. Our transport, storage and regasification infrastructure also confirms its centrality in the complex current geopolitical context. For this we are also at work to undertake the necessary initiatives to contribute to safety and to allow the diversification of supplies in Italy and in the territories in which
we operate, while remaining committed to enabling the energy transition and to achieve our carbon neutrality goalsin the interest of all our stakeholders “.
Outlook
Snam specifies in the notes to the accounts that “it is not active in the Russian market and does not hold investments, even in joint ventures, in Russian companies “. To date, based on available information and management estimates, the company” expects an overall limited impact with respect to the economic and financial results of the current year, the which allows you to confirm the guidance on net profit 2022 of approximately 1.1 billion euros, assuming the stability of the stake in De Nora and the contribution of the Austrian subsidiaries and constant gas demand “.