Contacts

Snam Rete Gas

Piazza Santa Barbara, 7

20097 San Donato Milanese (MI)

Ph.: +39 02.3703.1

Fax: +39 02.3703.9227 

outlines the terms in the glossary

price sensitive

Oct '14 31

31 October 2014 - 08:00 CET

TAGS results, first nine months, third quarter, 2014

San Donato Milanese, 31 October 2014 - At yesterday's meeting chaired by Lorenzo Bini Smaghi, Snam's Board of Directors approved the consolidated results for the first nine months and the third quarter of 2014 (unaudited).

Financial highlights

  • Total revenue: €2,648 million (+0.6%)
  • EBIT: €1,528 million (+0.8%)
  • Net profit: €863 million (+28.0%)
  • Technical investments: €856 million
  • Free cash flow: €212 million

Operating highlights

  • Gas injected into the transportation network: 47.19 billion cubic metres (-6.2%)
  • Number of active meters: 6.4 million (+7.8%)
  • Available storage capacity: 11.4 billion cubic metres

Significant events

  • The Extraordinary Shareholders' Meeting called for 10 December 2014 to resolve the proposed share capital increase as part of the operation to acquire the equity investment in Trans Austria Gasleitung GmbH (TAG) held by CDP GAS S.r.l., for a consideration of €505 million.

Carlo Malacarne, Snam CEO, made the following comments on the results:

"Our continued focus on operating and financial efficiency enabled us to once again record positive results for the first nine months of this year, as shown by the rise of about 1% in EBIT and the 28% increase in net profit, despite persistently unfavourable economic conditions and lower volumes of gas injected into the network.

We continue to pursue investments to strengthen Italy's gas infrastructure and promote increased integration across European networks."

distributed by