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Snam SpA (SRG.MI)

SRG.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Italy's Snam launches private placement of 300 mln euro bond
Tuesday, 14 Feb 2017 11:46am EST 

Italian gas grid company Snam says: launches private placement of 5-year bond for 300 million euros . move is consistent with optimisation process of group debt structure and cost of capital .notes will be listed on the Luxembourg Stock Exchange.  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

Snam Q1 core earnings down 10.3 pct on new regulations
Thursday, 12 May 2016 01:51am EDT 

Gas transmission group Snam says: Q1 EBITDA falls 10.3 percent to 643 million euros after cut in returns decided in new regulatory period . Q1 net profit down 18.2 percent at 266 million euros .Italy gas demand in 2016 will substantially in line with last year.  Full Article

Italy's Snam agrees to buy Statoil stake in TAP gas pipeline-Reuters
Tuesday, 1 Dec 2015 02:08am EST 

Statoil ASA:Italy's Snam has agreed to buy a 20 percent stake in the Trans Adriatic Pipeline (TAP) that will carry gas from Azerbaijan to Europe from Norway's Statoil-Reuters.Snam would pay Statoil Holding Netherlands 130 million euros.Snam will also take on Statoil's 78 million euro share of a shareholders' loan granted to TAP.  Full Article

BRIEF-Snam ‍and Baker Hughes sign memorandum of understanding

* ‍Signs memorandum of understanding with Baker Hughes, a GE company specialising in digital services, to develop technologies for gas market​ Source text for Eikon: Further company coverage: (Reporting by Milan Newsroom)