Snam closes the 2021 budget with a Net income Group adjusted balance of €1,218 billion, up 4,6% year-on-year “due to the effect of operating performance, the growth in the contribution of investee companies and the continued optimization of financial management, with a gross cost of debt at 0,8 %". The company makes it known in a note, underlining that the guidance of 1,17 billion has been exceeded. The target for this year is instead confirmed at around 1,1 billion.
As regards the revenues, 2021 closed by a whisker from three billion: to be precise at 2,986 billion, an improvement of 10% compared to 2020 thanks to "the implementation of planned investments in the regulated core business" and the growth of the energy efficiency business , continues the note from Snam.
Il mol on the other hand, it stands at 2,25 billion, for an annual increase of 2,4%.
Dividend, investment and debt
In terms of remuneration, the BoD will propose to the shareholders' meeting a dividend equal to 0,2620 euro per share, 5% more than last year (in line with the forecasts of the 2021-2025 strategic plan).
Finally, the investments technicians (in transport and storage infrastructure) rise to 1,27 billion (+6,8% on an annual basis), while the debt net financial rises to 14 billion.
Clarifications on Russia
In the press release on the accounts, Snam specifies that it is not active in the Russian market and not to hold shares in the country, not even at the joint-venture level.
"With regard to the operational management of recurring activities and the implementation of the 2022 investment programme, there are currently no critical issues attributable to the ongoing war events", continues the note, also underlining that "TAG and GCA (jointly controlled companies) are the foreign subsidiaries with greater exposure to Russian gas supplies through transportation contracts. To date, no changes have been recorded with respect to the regular flows. Companies remain central to the role they play, however any prolonged interruptions in imports could be reflected in a temporary reduction in the economic contribution of the group's subsidiaries or impact the valuation of the investments themselves".
The comment by Marco Alverà, CEO of Snam
“Since 2016 we have invested over 6 billion euros in our transport, storage and regasification infrastructure – underlines Marco Alvera, CEO of Snam – increasing our commitment year after year to make it more modern and secure and completing all projects on time and on budget starting with the TAP, an initiative that is extremely fundamental, especially today. Our infrastructure demonstrates its centrality also in these weeks, in which we are working in coordination with the European and national institutions and the regulatory authority to contribute to the ongoing efforts to further develop storage and regasification capacity".
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