Increased Gas Demand
Gas demand in Italy rose by 2% compared to the same period last year, with significant growth in the thermoelectric sector and a sharp increase in exports, highlighting the importance of gas-fired power generation.
Significant Increase in LNG Imports
LNG imports rose by 38% year-on-year, contributing to over 30% of Italy's gas imports, driven by the full return to operation of the OLT terminal and the start-up of the new terminal in Ravenna.
Strong Financial Performance
Adjusted EBITDA increased by 6.6% year-on-year to EUR 2.227 billion, and adjusted net income grew double-digit to EUR 1.096 billion, driven by higher regulatory revenues and contributions from associates.
Successful Bond Issuance
Snam issued its first U.S. dollar multi-branch sustainability-linked bond totaling $2 billion and EUR 1 billion of EU Green bond, highlighting progress in sustainable financing.
Interim Dividend Increase
The Board approved an interim dividend for 2025 of EUR 0.1208 per share, representing a 4% increase compared to the previous year.
High Storage Levels
Italy's storage levels reached 92%, well above the European average, with further improvement to around 95%, ensuring preparedness for the winter season.
Improved Net Debt and Cost of Debt
Net debt was reduced to EUR 17.4 billion, with the average cost of debt remaining stable at 2.6%.