Snam’s results reveal a faster than expected deterioration in revenues and earnings due to the negative impact from the downward revision in the allowed WACC for the new regulatory period. Due to this, revenue fell by 8.3% yoy to €852m, missing forecasts by 2%, with operating profit falling -16% yoy to €429m and net income reaching €266m, a 18.2%yoy decrease, both being slightly below expectations. Operating cash flow fell 12.4%, although it was enough to cover a 2.5% inc
12 May 2016
Fall in earnings impacted by WACC reduction; EBIT guidance reduced
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Fall in earnings impacted by WACC reduction; EBIT guidance reduced
Snam S.p.A. (SRG:WBO) | 0 0 0.3% | Mkt Cap: 12,935m
- Published:
12 May 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
3
Snam’s results reveal a faster than expected deterioration in revenues and earnings due to the negative impact from the downward revision in the allowed WACC for the new regulatory period. Due to this, revenue fell by 8.3% yoy to €852m, missing forecasts by 2%, with operating profit falling -16% yoy to €429m and net income reaching €266m, a 18.2%yoy decrease, both being slightly below expectations. Operating cash flow fell 12.4%, although it was enough to cover a 2.5% inc