Q3 2025 Snam SpA Earnings Call Transcript

Nov 5, 2025 / 03:30 PM GMT

Release Date Price: €5.55 (+1.69%)

Transcript

Key Points

Positve

Gas demand in Italy increased by 2% compared to the previous year, driven by colder weather and stable industrial demand.
Exports rose significantly, growing roughly 5 times compared to the previous year, enhancing Italy's role as a strategic energy gateway for Europe.
Adjusted EBITDA increased by 6.6% year on year, driven by growth in regulatory revenues.
Net debt decreased by 1% versus the first half of 2025, showing effective financial management.
The company successfully issued its first US dollar multi-tranche sustainability-linked bond totaling $2 billion, enhancing its sustainable finance profile.

Negative

Pipeline imports decreased by 2.8 billion cubic meters, indicating a reliance on LNG imports.
Higher depreciation and financial charges partially offset the increase in adjusted net income.
The average cost of debt remained stable at 2.6%, which may limit financial flexibility.
The foreign direct investment clearance for the OG acquisition in Germany is still ongoing, creating uncertainty.
The company faces regulatory challenges, such as the need for legislative approval for carbon capture and storage and hydrogen projects.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SRG.MI - Snam SpA
Q3 2025 Snam SpA Earnings Call
Nov 05, 2025 / 03:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello and welcome to SAA's, 9 month 2025 consolidated results conference call. My name is Zach, and I will be your operator on today's call. Please note this conference is being recorded and for the duration of the call, your lines will be on listen-only mode. However, you will have the opportunity to ask questions at the end of the call. This can be done by pressing 5 on your telephone keypad to enter the queue. I will now hand you over to your host, Francesca Pizzoli, director of Investor relations to begin today's presentation. Please, go ahead.

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Unidentified_2 [2]
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