Snam has released its 9M results which showed revenue decreasing 5.9% yoy to €2,586m, mainly driven by a reduction in the allowed WACC under the new regulatory environment. Moreover, with operating costs being reduced less than revenues (-3.4%), EBITDA contracted by 6.6% yoy to €1,968m which, added to the greater depreciation charges, has pushed the operating profit of the group to a 12% yoy decrease to €1,296m, while net profit decreased by 11.8% to €783m. Net debt increa
15 Nov 2016
Lower allowed revenues and distribution business performance weigh on results
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Lower allowed revenues and distribution business performance weigh on results
Snam S.p.A. (SRG:WBO) | 0 0 0.3% | Mkt Cap: 12,935m
- Published:
15 Nov 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
3
Snam has released its 9M results which showed revenue decreasing 5.9% yoy to €2,586m, mainly driven by a reduction in the allowed WACC under the new regulatory environment. Moreover, with operating costs being reduced less than revenues (-3.4%), EBITDA contracted by 6.6% yoy to €1,968m which, added to the greater depreciation charges, has pushed the operating profit of the group to a 12% yoy decrease to €1,296m, while net profit decreased by 11.8% to €783m. Net debt increa