BAKU, Azerbaijan, Nov.22
By Leman Zeynalova – Trend:
For 2020, Italy’s Snam expects a net profit up to around 1,100 million euros and a debt level at the end of the year of approximately 12.4 billion euros, excluding the use of tariff working capital expected to be 100 million euros, Trend reports citing the company.
“in the period 2017-2023 average annual increases are expected in the following numbers: - an increase of over 4 percent in net profit, confirming the previous target; - an increase of 5.5 percent in net profit per share (exceeding the target of over 5 percent in the previous plan); - an increase of more than 3 percent in EBITDA in the period; - a rise of 5 percent in the dividend per share (DPS) until 2022, confirming the policy announced last year; - a rise of 2.5 percent in the RAB tariff (in line with the previous plan despite the assumptions of lower inflation), with the prospect of a subsequent 1 percent real growth by 2030,” reads a report by Snam.
The debt/RAB ratio will be largely stable, net of the impact of the release, scheduled over the time horizon of the plan, of the pro-rata amount of the guarantee of TAP’s debt during the construction period of the gas pipeline. In particular, by 2023 a ratio between adjusted debt and RAB including associates of 53 percent is forecast.
The net profit guidance for 2019 is improved at 1,080 million euros, bringing the increase in net profit per share to +32 percent since 2016.
Snam is Europe’s leading gas utility. Snam operates in Italy and, through subsidiaries, in Albania (AGSCo), Austria (TAG and GCA), France (Teréga), Greece (DESFA) and the United Kingdom (Interconnector UK). It is one of the main shareholders of TAP (Trans Adriatic Pipeline) and is the company most involved in projects for the creation of the Energy Union.
Since 2001 Snam is a public company, listed in the FTSE MIB index of the Italian Stock Exchange.
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