In the third quarter, Snam Rete Gas achieved an adjusted net profit down by 0,7% to 300 million against total revenues up by 5,2% to 911 million. In the period, the gross operating margin amounted to 674 million (from 683 million a year earlier). The quarterly data were communicated to the market by Snam with the balance sheet for the first nine months of the year.
In the first nine months of the year, Snam achieved total revenues of 2,74 billion euro (+3,8%) and an adjusted net profit of 912 million euro (+5,7%). Ebitda settled at 2,1 billion euro (-0,1%) while the net cash flow from operating activities amounted to 1,66 billion euro (+52,1%) Technical investments were of 803 million euros.
It is precisely on the increase in the cash flow generated by operating activities that the CEO Carlo Malacarne wanted to draw attention: “The first nine months of 2015 closed with an adjusted net profit up by about 6% compared to the same period last year. The strong cash flow generated by operating activities of almost 1,7 billion euros has allowed us to maintain net financial debt at the levels of 2014, after having financed the investments for the period and the entire dividend for the year”.
"These results - continues Malacarne - reinforce our objectives of guaranteeing shareholders profitable and remunerative growth through targeted investments and of pursuing financial discipline while maintaining a solid capital structure".
