SNAM S.P.A. energy to inspire the world
FY 2022
Consolidated
Results
16th March 2023
Opening remarks
energy to inspire the world
Solid financial results in an extremely volatile environment, despite WACC review
Sound progress across Gas infrastructure and Energy transition business KPIs
Continued sustainability performance throughout emissions, taxonomy and SGDs alignment
Key strategic achievements along the energy trilemma, laying the foundations for our long term strategy
Consistent shareholders remuneration with a dividend proposal of €0.2751/share on 2022 results
2
FY 2022 financial results
energy to inspire the world
€m | Adj. EBITDA | €m | Adj. Net income | ||||||||
-0.6% | -4.5% | ||||||||||
2,250 | 2,237 | 1,218 | 1,163 | ||||||||
FY 2021 | FY 2022 | FY 2021 | FY 2022 | ||||||||
Investments(1) | Net debt | ||||||||||
€m | €m | -15.0% | |||||||||
+52% | |||||||||||
249 1,270 | 294 | 1,926 | 14,021 | 11,923 | |||||||
FY 2021 | FY 2022 | FY 2021 | FY 2022 |
Solid results, despite WACC review, in an extremely volatile environment
3
1. Investments in 2022 include €0.4bn for the acquisition of Golar Tundra & other investments in LNG infrastructure and €0.2bn for Biomethane acquisitions.
2022 Dashboard
Business
Sustainability
energy to inspire the world
Gas infrastructure
Biomethane
Energy Efficiency
SSLNG and
Mobility
Decarbonization projects
- +18,000 yoy (+23%) hours of compression stations
- +4.4 Bcm (1) volumes regasified yoy
- 4.6bcm of export
- 5 plants started and 32 in operation (40 MW)
- 19 mcm of production (+16 mcm yoy)
- €1.860 m Backlog (+ 79% yoy)
- 46 MW installed (+142% yoy)
- 85 CNG and LNG stations (+18 yoy)
- €25m of grants earmarked
- MoU with Edison to foster the Italian SSLNG infrastructure
- Ca €11m of grants earmarked
- Succcessfull De Nora IPO while progressing on the Gigafactory project
GHG emissions
Alignment to
ESG ratings
- Scope 1&2 GHG emissions broadly flat (-0.6%) vs 2021 despite challenging scenario (-20% like for like(2))
- Methane emissions -45%vs 2015 (-23% yoy)
Revenues 20%
Opex37%
Capex39%62%
Best sector performer by Sustainalytics
S&P DJSI (87/100 score)
AA
A- list
4
1. Assuming 100% stake.
2. Effect of the changed geopolitical context neutralized and new businesses excluded.
FY 2022 key highlights
KEY STRATEGIC ACHIEVEMENTS
Security of supply
• 2 new FSRUs authorized in record time
• Gas Storage infilling target reached (95% by end of Oct)
• Adriatic pipeline consultation completed
• SeaCorridor (TTPC/TMPC) acquisition on 10th Jan 2023 Sustainability
world | • H2 backbone PCI application filed | |
• Methane leakage reduction 3 years ahead of UNEP targets | ||
the | • | 70k tons CO2 emissions avoided |
• | CCS project in Ravenna | |
to inspire | Affordability | |
• | Managed material gas flows reshuffle seamlessly | |
energy | • | Preparing for ROSS |
• | Assets Health methodology approved by Arera (effective Jan 1st | |
2023) |
• 750km of network certified H2 ready
SCENARIO
Gas market
- FY 2022 Italian gas demand at 68.7 bcm (-10% YoY(1))
- Average TTF at €124/MWh (+163% yoy)
- North import -30%, Southern route +15% and LNG +45%
Macro and regulation
- Rising interest rates (+250 bps by BCE)
- FY 2022 RAB deflator at 4.2%
- No WACC trigger for 2023
- Consultation process on ROSS base
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1. Non weather adjusted.
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Disclaimer
SNAM S.p.A. published this content on 16 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 March 2023 07:32:07 UTC.
