Snam benefited from a higher Regulated Asset Base (RAB) and +100% growth in the energy efficiency business resulting in a strong 12.9% growth for the top line. However, EBITDA remained almost stable with a modest 1.5% growth as the group had to sell gas inventory excesses accumulated at higher prices in the past quarters. The guidance was confirmed for 2023 with an EBITDA target of €2.4bn and a €70m contribution from the Energy Transition business.