Under the new regulatory environment, Snam’s results are broadly in line with expectations, with revenue falling 6.2% yoy to €1,724m as lower revenues in the gas transportation and distribution segments were partially offset by higher revenue in the storage activities, which had an upward revision on the allowed WACC. Operating profit fell by 14.3% to €867m due to higher risk provisions, charges related to the Italgas spin-off and higher depreciation from new infrastructure in
27 Jul 2016
Results fall in the regulation setting and higher opex in the distribution business
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Results fall in the regulation setting and higher opex in the distribution business
Snam S.p.A. (SRG:WBO) | 0 0 0.3% | Mkt Cap: 12,935m
- Published:
27 Jul 2016 -
Author:
Juan Camilo Rodriguez -
Pages:
3
Under the new regulatory environment, Snam’s results are broadly in line with expectations, with revenue falling 6.2% yoy to €1,724m as lower revenues in the gas transportation and distribution segments were partially offset by higher revenue in the storage activities, which had an upward revision on the allowed WACC. Operating profit fell by 14.3% to €867m due to higher risk provisions, charges related to the Italgas spin-off and higher depreciation from new infrastructure in