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Snam SpA (SRG.MI)

SRG.MI on Milan Stock Exchange

3.95EUR
4:34am EDT
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€-0.03 (-0.75%)
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€3.98
Open
€3.98
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€3.98
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€3.94
Volume
677,970
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13,006,767
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€5.57
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€3.41

Latest Key Developments (Source: Significant Developments)

Italgas 2016 adj pro-forma net profit 221 mln euros
2:52am EDT 

Italy's biggest gas distributor Italgas says: 2016 pro-forma adjusted net profit 221 million euros . net debt 3.618 billion euros end 2016 . 2016 pro-forma adjusted EBITDA 685 million euros . to pay dividend on 2016 results of 0.20 euros per share .demerger from Snam and listing of group took place on November 7 last year.  Full Article

Snam CEO expects first gas from TAP pipeline in 2020
Tuesday, 7 Mar 2017 10:32am EST 

Snam CEO Marco Alvera says in a conference call on Tuesday: expects first gas from Trans Adriatic Pipeline (TAP) to flow in 2020 . sees, as a general principle, treasury shares used more for shareholder remuneration rather than for acquisitions Further company coverage: [SRG.MI] (Reporting by Milan newsroom).  Full Article

Snam 2016 adj EBITDA down 3.4 pct on lower regulated income
Tuesday, 7 Mar 2017 01:41am EST 

Snam says: 2016 adjusted EBITDA 1.987 billion euros, down 3.4 percent on year earlier due to lower regulated revenues . adjusted pro forma 2016 net profit 845 million euros . proposes dividend on 2016 results of 0.21 euros per share .net debt at 11.056 billion euros end 2016.  Full Article

Snam says watchdog approves 2017 revenues of 1.88 bln euros
Tuesday, 22 Nov 2016 12:02pm EST 

Snam says: energy authority approved revenues for 2017 of the transport, dispatching and metering businesses equal to 1.88 billion euros . The regulated asset base (RAB) for the transport business at the end of 2015 was set at 15 billion euros Further company coverage: [SRG.MI] (Reporting by Milan newsroom).  Full Article

Snam says Alessandra Pasini to become CFO
Tuesday, 27 Sep 2016 12:51pm EDT 

Italy's Snam: Alessandra Pasini to become the group's chief financial officer, the company says . Pasini is Barclays Head of Investment Banking in Italy . current CFO Antonio Paccioretti will step down to become general manager at Italgas unit, the company says . the company says it has renewed its EMTN issuance programme, reducing its maximum total amount to 10 billion from 12 billion euros .company says has approved issuance of bonds for up to 1.15 billion euros by end-September 2017.  Full Article

Snam says RAB for storage business set at 4 bln euros
Wednesday, 27 Jul 2016 02:22am EDT 

Snam says:electricity watchdog set RAB for natural gas storage business at 4 billion euros.  Full Article

Snam first-half net profit falls 14 pct
Wednesday, 27 Jul 2016 01:57am EDT 

Italy's Snam says: First-half net profit down 14.1 percent at 526 million euros ($578 million). . EBITDA down 8.4 percent at 1.314 billion euros. . H1 EBIT falls 14.3 percent to 867 million euros. .Results reflect, among other things, adjustment in the rate of return on net invested capital from Jan. 1..  Full Article

Snam not committed to holding Italgas stake forever - CEO
Wednesday, 29 Jun 2016 03:45am EDT 

Snam CEO Marco Alvera says: 13.5 percent stake Snam will have in Italgas after demerger is strategic, but Snam is not committed to holding on to it forever . Italgas value will be decided by market at time of listing, but stocks like this normally trade at a premium to RAB (regulated asset base) and 18-20 percent could be a proxy for this Further company coverage: [SRG.MI] (Reporting by Milan newsroom).  Full Article

Snam shares higher after Italgas spinoff and plan
Wednesday, 29 Jun 2016 03:05am EDT 

Snam: shares up 2.2 percent in early trade after Italgas spinoff and new business plan. [nI6N199022] Further company coverage: [SRG.MI] (Reporting by Milan newsroom).  Full Article

Snam sees 2016 EBIT in 1.7-1.8 bln euro range
Thursday, 12 May 2016 09:48am EDT 

Snam: CFO says "confident for guidance on 2016 EBIT up to mid- part of the 1.7-1.8 billion euro range" . Snam had previously given a guidance for EBIT of 1.8 billion euros Further company coverage: [SRG.MI] (Reporting by Milan newsroom).  Full Article

More From Around the Web

Snam signs natural gas pump deal with Fiat Chrysler, Iveco

MILAN, Oct 5 Italian gas grid company Snam has signed an agreement with Fiat Chrysler Automobiles (FCA) and truck maker IVECO to boost the use of compressed natural gas (CNG) in fueling vehicles.