BAKU, Azerbaijan, March 16. Italian Snam company has made investments worth 1,926 million euros in 2022, Trend reports with reference to the company.
Snam reported a 52 percent increase in total investments in 2022, as compared to 2021. Around 1,351 million euros of this amount were related to technical investments, rising by 81 million euros compared to 2021 (an increase by 6.4 percent); they were mainly related to the transport (1,007 million euros) and storage (172 million euros) sector, while investments in the energy transition businesses reached 94 million euros.
The positive net cash flow from operating activities (4,109 million euros), mainly related to the dynamics of working capital related to balancing activities, together with the proceeds from the repayment of the financial receivable by OLT and from the disposal of an interest in Industrie De Nora, made it possible to fully finance technical investments as well as equity investments and generate a free cash flow of 2,741 million euros.
“Net financial debt, including the equity cash flow (-866 million euros) connected with the distribution of the 2021 dividend to shareholders, and nonmonetary changes (+223 million euros) mainly related to the extinguishment of the convertible bond through the assignment of Snam treasury shares, decreased by 2,098 million euros compared to December 31st, 2021, ending at 11,923 million euros,” reads the latest report released by Snam.
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