Snam SpA (XBUL:SNM)

лв 4.457 (0%) Market Cap: 33.97 Bil Enterprise Value: 66.55 Bil PE Ratio: 12.77 PB Ratio: 1.81 GF Score: 78/100

Q1 2025 Snam SpA Earnings Call Transcript

May 8, 2025 / 02:00 PM GMT

Release Date Price: лв4.46

Transcript

Key Points

Positve

Snam SpA (SNMRF) reported an 8.3% year-on-year increase in adjusted EBITDA, reaching €761 million, driven by growth in regulated revenues.
The company achieved a 21.2% year-on-year increase in adjusted net income, totaling €406 million, supported by higher EBITDA and contributions from associates.
Snam SpA (SNMRF) successfully completed the acquisition of Edison Stoani and sold a stake in a gas pipeline, resulting in a capital gain of €120 million net of taxes.
The company made strategic progress by entering the German energy infrastructure market through the acquisition of a 24.99% stake in OpenGrid Europe (OGE).
Snam SpA (SNMRF) maintained a stable average cost of debt at 2.5% and received a credit rating upgrade to A- by Standard & Poor's, reflecting a strong financial profile.

Negative

Investments decreased by 22% compared to the first quarter of 2024, following the completion of the Ravenna LNG terminal.
Net debt increased to €16.8 billion, primarily due to investments and the payment of a €400 million interim dividend.
The company faces regulatory challenges, with the need for simplification in Italy's regulatory framework being highlighted by investors.
The energy efficiency sector is underperforming, with no immediate consolidation opportunities identified.
The hydrogen investment prospects remain uncertain, with economic viability challenges highlighted by recent industry developments.

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

SRG.MI - Snam SpA
Q1 2025 Snam SpA Earnings Call
May 08, 2025 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. This is the COO conference operator. Welcome and thank you for joining this NA 1st quarter 2025 consolidated results conference call.

As a reminder, all participants are in listen and only mode.

After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing and 0 on their telephone.

At this time, I would like to turn the conference over to Ms. Francesca Pezzoli, head of investor relations of SAA.

Please go ahead, madam.

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Unidentified_2 [2]
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