Snam presents very positive accounts and the market, which today is rebounding on its own after the long-awaited news of the fed bazooka, rewards her. The company that manages the gas network, which had lost 17% in the last month due to the coronavirus collapse, recovered more than the theoretical 7% at the opening of the session, failing even to set a price. This after the 2019 accounts speak of revenues growing to 2,6 billion, with an adjusted Ebitda up by 74 million euros (+3,5% compared to 2018) and a net income that rose more than 8% consolidating above one billion euro (1.093 million).
The dividend that will be proposed to the shareholders' meeting is € 0,2376 per share, of which 0,095 euro per share already distributed as an advance in January 2020. In line with the provisions of the previous plan, Snam has also done its duty in terms of investments, amounting to almost 1 billion, of which 172 million euros of investments in innovation and energy transition (SnamTec). The cash flow is 482 million, and the reduction in the average cost of gross debt should also be noted (from 1,5% in 2018 to 1,1% in 2019) and the increase in operational efficiency: 51 million euros of cost efficiencies compared to 2016.
"2019 was for Snam - commented the CEO Marco Alverà - a year of strong acceleration on the energy transition: we have experimented, among the first in the world, the injection of hydrogen into our transmission network, allocating over 20% of the investments of the 2023 plan to innovation and new businesses in energy efficiency, sustainable mobility and biomethane, also thanks to recent acquisitions. We have launched new standards for the purchase of materials that will make the Snam network 'hydrogen ready', guaranteeing our infrastructures an increasingly central role in the decarbonisation process".
In the meantime, Snam too takes the field against the coronavirus and does so through concrete and targeted help: the group that manages the gas network signs the purchase of 500 ventilators and 600 N95-type masks. Both essential products in this emergency phase will arrive in a few days, by the beginning of next week as communicated by Snam.
“Thanks to the contacts in some countries where we are present (China) or where we have ongoing dialogues on energy transition (India) – he explained the managing director of Snam, Marco Alverà -, we have found and just signed contracts for the purchase of 500 ventilators. The fans will be available starting next week and we will donate them to the territories most affected by the health emergency".
"The purchase of fans and masks - added the manager -, in close liaison with the Ministry of Foreign Affairs, the Extraordinary Commissioner and the Civil Protection, falls within the funding of 20 million euros that Snam, also through the Snam Foundation, announced in recent days in favor of the health system and the third sector. We are working on several fronts and I hope to have more news soon".
"We are close to health professionals, to the non-profit world, to the institutions and to all the Italian communities committed to dealing with the emergency. Our commitment to Italy's energy security now more than ever goes hand in hand with our social commitment”, concludes Alverà.
