Snam closes 2023 with a adjusted net profit of 1,168 billion euros, up 0,4% compared to 1,163 billion the previous year. The result, explains a note, is higher than the guidance. THE total revenues stand at 3.875 million (+16,8%), the adjusted Ebitda is equal to 2.417 million (+8%), total investments amount to 2.194 million (+13,9%) of which 1.774 million euros of technical investments (+31,3, 2022% compared to 61). 29% of total investments are aligned with the Sustainable Development Goals and 331% with the European Taxonomy. To the total investments, which include XNUMX million euros for the purchase of Fsru Bw Singapore, 410 million euros relating to theacquisition of 49,9% of SeaCorridor. Net financial debt is 15.270 million euros (11.923 million euros at 31 December 2022), lower than the guidance (15,3 billion), and increasing mainly due to the expected evolution of working capital connected to the balancing activity , for financial investments and for the payment of the 2022 dividend. The board of directors has decided to distribute a coupon of 0,2820 euros per share (increasing by 2,5%, in line with the dividend policy envisaged in the 2022-2026 Strategic Plan).
Snam, what will the dividend be: the details
Snam management has therefore proposed the distribution of a dividend 2024 (relating to the 2023 financial year) for a total of 0,282 euros per share, of which 0,1128 euros per share already distributed in January 2024 as an advance and 0,1692 euros per share in settlement. The coupon balance will be detached on Monday 24 June 2024, with payment from June 26th. Snam specified that the overall dividend, growing by 2,5% compared to 2022, is in line with the dividend policy announced to the market.
Snam, financial objectives confirmed for 2024
Snam confirms the financial objectives for 2024. This is what the company communicates in the note on the financial results for 2023. The targets include: investments of 2,9 billion euros (of which 2,7 billion euros in gas infrastructure and 0,2 .23,8 billion euros in the energy transition sector); a RAB valuation of net invested capital) tariff amounting to 2,7 billion euros; an adjusted Ebitda of 1,18 billion euros; an adjusted net profit level of approximately 17,6 billion euros; a net debt level of approximately XNUMX billion euros.
Snam, here's what CEO Venier says
“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". So Stefano Venier, CEO of Snam (in the photo, ed), intervenes on the group accounts approved by the Board of Directors.
“The main economic and financial indicators – he underlines – record a positive performance and are improved compared to the guidance, with a growth in technical investments of over 30% compared to the previous year. The results in terms of emissions reduction and sustainable finance are also 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".
Snam: "No critical issues have been recorded since the Red Sea blockade to date"
“With regards to the evolution of events in the Middle East and in particular in the Red Sea, Snam will continue to monitor the possible consequences and effects on the group's activities. To date, with regard to the management of operations and the implementation of the investment programme, there are no critical issues attributable to these events": the company communicates this in the note of the financial results for 2023. "However - it is added - a possible, prolonged interruption of transits of ships (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. These 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."
