Home » Snam: in the first half of the year, revenues grew by 9.7%, financial debt fell

Snam: in the first half of the year, revenues grew by 9.7%, financial debt fell

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Snam: in the first half of the year, revenues grew by 9.7%, financial debt fell

At Piazza Affari Snam is up by 0.16%, thus finding itself at € 4.88 per share, after presenting the financial results for the first half of 2022, a period that closed with an increase in revenues and profitability. In the first half of the year, the company recorded total revenues of 1,595 million euros, with an increase of 9.7% compared to the same period of 2021. The increase in revenues is attributable to the development of regulated businesses, which also benefit from one-off effects , and for the growth of energy efficiency.

The group closed the first half with a gross operating margin of 1,155 million euros, substantially in line with the same period of 2021.

The company confirmed the 2022 investment plan and confirms that technical investments of 537 million euros were made in the first half of the year. Snam recorded 646 million euros of net profit, with an increase of + 1.7% compared to the first half of 2021, and this also due to the positive performance of the investee companies, which also allows to raise the guidance on net profit for 2022. In the first half of the year, net financial debt fell from € 14,021 million at the end of 2021, to the current € 12,822 million. The reduction is mainly due to the temporary change in working capital related to the balancing activity.

Snam’s Chief Executive Officer, Stefano Venier, comments that the “results confirm the solidity of our core business, the positive operating performance and the growth in the contribution of new businesses and investee companies”. On the energy crisis front, the company’s management underlines that in recent months the company has “supported the country’s energy strategy by favoring the filling of the storage areas with the purchase of approximately 2 billion cubic meters of gas, ensuring us two new floating storage units and regasification “.

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