The group has provided better than expected results on a pro-forma basis after the spin-off of Italgas with revenues reaching €2,560m, which represents -2.6% yoy, but an increase of 1.8% yoy once adjusted for the WACC revision effect. In line with this, EBITDA decreased by 3.4% yoy to €1,984m, but increased 2.1% yoy on an adjusted basis. The reported net income of the group reached €861m, down by 30.1% yoy due to the new regulatory parameters and the deconsolidation of the gas
07 Mar 2017
Robust 2016 results; guidance slightly below forecasts and decreasing pay-out expected
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Robust 2016 results; guidance slightly below forecasts and decreasing pay-out expected
Snam S.p.A. (SRG:WBO) | 0 0 0.3% | Mkt Cap: 12,935m
- Published:
07 Mar 2017 -
Author:
Juan Camilo Rodriguez -
Pages:
3
The group has provided better than expected results on a pro-forma basis after the spin-off of Italgas with revenues reaching €2,560m, which represents -2.6% yoy, but an increase of 1.8% yoy once adjusted for the WACC revision effect. In line with this, EBITDA decreased by 3.4% yoy to €1,984m, but increased 2.1% yoy on an adjusted basis. The reported net income of the group reached €861m, down by 30.1% yoy due to the new regulatory parameters and the deconsolidation of the gas