Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Snam S.p.A.    SRG   IT0003153415

SNAM S.P.A.

(SRG)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Snam S p A : 2020 Nine months results (PDF)

11/05/2020 | 08:02am EST

2020 nine-month results

Milan

November 5th, 2020

Key highlights: strong delivery on results

Continuous improvement in our core business

Enhanced exposure to the energy transition

  • Capex plan €762m (+17% vs LY). Delays due to Covid to be fully recovered by year end
  • Efficiency plan ongoing: €60m cumulated already achieved
  • Wacc review process initiated

Progress on international activities

  • TAP commercial operating date confirmed in mid November
  • First contribution of Adnoc Gas Pipelines Assets to P&L and successful first tranche take out (USD 4bn) via long term bond of acquisition financing
  • Closing for a 50% stake in Iniziative Biometano
  • Closing for a 70% stake of Mieci and Evolve
  • Progress on hydrogen value chain development:
    • Strategic partnership with ITM Power, leading eloctrolyzers producer
    • Signed MoU with Ferrovie dello Stato to promote the study of Hydrogen in rail transport

Value creation from optimization of financial structure

  • Lower financial charges -21% (from €126m in 9M 2019 to €100m 9M 2020)
  • Annual renewal of the EMTN Programme approved for a total maximum amount of €11bn
  • S&P affirms rating at BBB+, outlook improved to stable
  • Snam founding member of the UN Global Compact CFO taskforce

2

Gas demand update

Gas consumption in Italy (Jan-September)

Bcm

(-8.5%)

54.4

1.8

49.8

1.8

20.4

18.8

13.0

11.9

Other

Industry

Building

19.1

17.3

Thermoelectric

9M 2019

9M 2020

Reduction of gas demand of ca. 4.6bcm (-8.5%y-o-y)

  • Civil sector: - 1.8bcm
  • Power sector: - 1.6 bcm mainly due to lower electricity demand (-7%)
  • Industrial sector: -0.9 bcm mainly due to the Covid-19 lockdown
  • Gas demand: -7%y-o-y in Q1, -18%y-o-y in Q2, -1.5% in Q3

Weekly gas consumption

1.400,0

1.200,0

1.000,0

Smc

800,0

600,0

400,0

200,0

-

2019 2020

Progressive improvement in demand

  • Industrial sector is continuing to recover from the end of the lockdown (May 4th, 2020) as the building sector too
  • Increase of gas consumption for thermoelectric plants in September versus the previous year

3

9M 2020 results

Regulated revenues

EBITDA

+1.6%

+0.5%

Higher transport tariff RAB

1.880

1.910

Negative commodity effect

1.661

1.670

9M 2019

9M 2020

9M 2019

9M 2020

Net financial charges

Net income

-21%

+0.7%

126

Treasury management

867

873

100

optimization measures

9M 2019

Liability management

9M 2019

9M 2020

9M 2020

  • Positive effect from efficiency programme
  • New businesses contribution
  • Lower financial charges
  • Normalization of associates contribution

FY 2020 net profit guidance confirmed

4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

SNAM S.p.A. published this content on 05 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 November 2020 13:01:05 UTC


© Publicnow 2020
All news about SNAM S.P.A.
01/11SNAM : Financial Calendar 2021
PU
01/11Italian steelmaker Tenaris to work with Edison, Snam on green hydrogen
RE
01/11SNAM S P A : Tenaris, Edison and Snam join together in a project to trial steelm..
PU
01/08SNAM : acquisition of the De Nora stake completed
PU
2020Azerbaijan starts gas exports to Russia-dominated European market
RE
2020Azerbaijan starts gas exports to Russia-dominated European market
RE
2020SNAM S P A : Notice publication of documents
PU
2020FNM, A2A AND SNAM : agreement on green hydrogen mobility in Lombardy
PU
2020Italy enlists Eni, Snam and CDP to help drive energy transition
RE
2020Eni, Snam to Work with Italian State-Backed Bank on Green Initiatives
DJ
More news
Financials
Sales 2020 2 693 M 3 264 M 3 264 M
Net income 2020 1 097 M 1 329 M 1 329 M
Net Debt 2020 12 704 M 15 398 M 15 398 M
P/E ratio 2020 13,8x
Yield 2020 5,48%
Capitalization 14 802 M 17 979 M 17 941 M
EV / Sales 2020 10,2x
EV / Sales 2021 9,98x
Nbr of Employees 3 080
Free-Float 57,0%
Chart SNAM S.P.A.
Duration : Period :
Snam S.p.A. Technical Analysis Chart | SRG | IT0003153415 | MarketScreener
Technical analysis trends SNAM S.P.A.
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 5,12 €
Last Close Price 4,58 €
Spread / Highest target 31,1%
Spread / Average Target 12,0%
Spread / Lowest Target -23,5%
EPS Revisions
Managers and Directors
NameTitle
Marco Alverà Chief Executive Officer & Director
Nicola Bedin Chairman
Alessandra Pasini Chief Financial Officer
Cosma Panzacchi EVP-Digital Transformation & Technology
Francesco Gori Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SNAM S.P.A.-0.57%17 979
ENBRIDGE INC.10.59%72 119
ENTERPRISE PRODUCTS PARTNERS L.P.18.07%50 490
TC ENERGY CORPORATION8.15%41 618
KINDER MORGAN, INC.14.41%35 406
WILLIAMS COMPANIES13.17%27 536