Snam SpA Reports Strong Investment and EBITDA Growth

Snam Spa ( (SNMRY) ) has released its Q3 earnings. Here is a breakdown of the information Snam Spa presented to its investors.

Snam SpA is a leading European energy infrastructure company, focusing on natural gas transport, storage, and regasification, with a commitment to sustainability and energy transition.

In its latest earnings report for the first nine months of 2024, Snam SpA announced significant growth in investments and adjusted EBITDA, despite a decline in total revenues mainly due to the termination of energy efficiency incentives. The company highlighted its efforts in sustainable finance and its progress toward a net-zero transition plan.

Key financial metrics showed a substantial increase in investments by 46.1% to 1.8 billion euros, driven by developments in the Ravenna LNG terminal and the Adriatic Backbone construction. Adjusted EBITDA rose by 12.2% to over 2 billion euros, reflecting growth in regulated revenues, while adjusted net profit increased by 5.7% to 996 million euros. The issuance of a perpetual subordinated hybrid instrument worth 1 billion euros also marked a strategic financial move.

Despite challenges, such as increased net financial debt and higher net financial expenses due to rising interest rates, Snam remains focused on enhancing its financial structure and strategic acquisitions, including a significant stake increase in Terminale GNL Adriatico S.r.l. The company’s forward-looking strategies aim to support Italy’s energy transition and maintain stability amidst global uncertainties.

Looking ahead, Snam is committed to its guidance for 2024, maintaining targets for investment and adjusted financial metrics. The company continues to prioritize sustainability, aiming for a 20% reduction in emissions by year-end, and is actively pursuing opportunities in green hydrogen and energy transition projects.