Alverà: “We work with the European Union to increase stocks”
Marco Alverà, ceo by Snam, beats net profit targets (1.17 billion), bringing i profits (adjusted net profit) at 1.218 billion, up by 4.6% compared to 2020 “due to the operational performancefrom the growth in the contribution of investee companies And the continuous optimization of financial managementwith a gross cost of debt at 0.8% “. Results at the end of a year that has seen revenues close to 3 billion (2.986 billion, an increase of 10%) “due to the realization of the planned investments in the regulated core business“and thanks also to growth of business energy efficiency.
The mol (Ebitda) was 2.25 billion (+ 2.4%). After confirmed the guidance for net profit 2022 to approximately 1.1 billionthe board proposed a dividend of 0.2620 euros per share (up by 5%, in line with the forecasts of the 2021-2025 strategic plan).
Finally, the technical investments (in the transport and storage infrastructure) they rise to 1.27 billion (+ 6.8% compared to 2020) while net financial debt rises to 14 billion. The energy group specifies of not be active in the Russian market and not to hold shares, including in joint venturewith Russian companies.
THE total revenue rose by 19% to 3.297 billion (+ 19% compared to 2020), and include the fees to cover energy costs, equal to 311 million euros (60 million in 2020), growing mainly for significant increase in the price of natural gas in the second half of 2021.
Net of these fees, total revenues, equal to € 2.986 billion, increased by € 276 million (+ 10.2%) due to higher regulated revenues and higher revenues from new businesses with particular reference to efficiency energy. The guidance on the 2022 net profit of the group, in consideration of the positive results of 2021 and the reduction of the WACC for the new regulatory period, is confirmed at around 1.1 billion euros, on a like-for-like basis, assuming the stability of the contribution of Austrian subsidiaries, constant gas demand and an output-based incentive level of 40 million euros.
Finally with regard to the war in Ukraine it is also specified that “with regard to the operational management of recurring activities and the implementation of the 2022 investment program, there are currently no criticalities attributable to the war events in progress“. Furthermore,” TAG and GCA (jointly controlled company) are the foreign subsidiaries with greater exposure to Russian gas supplies through transportation contracts. To date there have been no changes with respect to regular flows. The companies remain central to the role they play, however any prolonged interruptions to imports could result in a temporary reduction in the economic contribution of the subsidiaries to the group or impact the valuation of the same holdings “.
“Since 2016 we have invested over 6 billion euros in our transport, storage and regasification infrastructure, increasing our commitment every year to make it more modern and safe and completing all projects on time and budget starting with TAP, an extremely fundamental initiative especially today “, commented Alverà. Who added:” Our infrastructure demonstrates its centrality even in these weeks, in which we are working in coordination with 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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