Snam's first quarter ends with net income down 11,7% year-on-year, to 242 million. This was communicated by the company itself. The reduction in profit "is due to the higher net financial charges (-40 million) mainly as a result of the higher average cost of debt, essentially attributable to the charges associated with the refinancing of the debt, and the higher average debt for the period".
Total revenues for the quarter amounted to 957 million, down 1,2% year-on-year, while theEbitda was 717 million euros, up 1,3%. As at 31 March 2013, net financial debt stood at 12,138 billion, down by 260 million compared to the first quarter of 2012.
The quantity of gas introduced into the national network decreased, -17,1% on year to 18,62 billion cubic metres. In this sense, the decrease in the consumption of natural gas in Italy weighs.
Meanwhile, in the morning, the Snam share lost 0,88% in Piazza Affari, at 3,826 euros per share.
