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Snam Rete Gas

Piazza Santa Barbara, 7

20097 San Donato Milanese (MI)

Ph.: +39 02.3703.1

Fax: +39 02.3703.9227 

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Jul '14 30

30 July 2014 - 08:00 CEST

TAGS results, first half, 2014

San Donato Milanese, 30 July 2014 - The Snam Board of Directors, at yesterday's meeting chaired by Lorenzo Bini Smaghi, approved the consolidated half-year report to 30 June 2014 (subjected to a limited audit) and examined the consolidated results for the second quarter of 2014 (unaudited).

Financial highlights

  • Total revenue: €1,782 million (+0.4%)
  • EBIT: €1,044 million (+2.4%)
  • Net profit: €561 million (+21.4%)
  • Technical investments: €526 million (+7.3%)

Operating highlights

  • Gas injected into the transportation network: 32.78 billion cubic metres (-5.0%)
  • Number of active meters: 5.911 million (5.915 million at 30 June 2013)
  • Available storage capacity: 11.4 billion cubic metres (unchanged compared with 30 June 2013)

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

"In the first half of 2014 the EBIT growth of 2.4%, as well as the remarkable increase in net income of more than 21%, is the result of our continued focus on operating efficiency as well as the increasing contribution of associates and the on-going optimization measures in the cost of debt.

We remain committed to investing for profitable growth and value creation for our shareholders, confirming our selective capex plan".

Snam announces results for the first half of 2014

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