Full Year 2024 Snam SpA Earnings Call Transcript
Key Points
- Snam SpA (SNMRY) achieved a strong financial performance with a 23% increase in EBITDA compared to 2022.
- The company successfully increased its LNG capacity from 6 BCM to 19 BCM, enhancing its infrastructure.
- Snam SpA (SNMRY) reduced its Scope 1 and 2 emissions by 28% in 2024 compared to 2022, demonstrating significant progress in sustainability.
- The company maintained financial flexibility while providing attractive shareholder remuneration.
- Snam SpA (SNMRY) issued its inaugural green bond and was recognized as the Sustainable Issuer of the Year by IFR.
- The energy market and geopolitical situation remain unsettled, posing challenges for reliable and affordable energy supply.
- Higher interest rates impacted net profit growth, which rose by 11% despite the challenging financial environment.
- Capital expenditures increased by 50% compared to 2022, which may pressure financial resources.
- The company faced delays in some investments, such as the Ravenna breakwater, which slipped to 2025.
- Snam SpA (SNMRY) had to manage write-downs on gas infrastructure projects deemed non-finalizable.
Good afternoon. This is the Chorus Call conference operator. Welcome and thank you for joining the Snam full-year 2024 consolidated results conference call. (Operator Instructions)
At this time, I would like to turn the conference over to Ms. Francesca Pezzoli, Head of Investor Relations of Snam. Please go ahead, madam.
Good afternoon, ladies and gentlemen, and welcome to the presentation of Snam's full-year 2024 consolidated results approved by the Board today. The presentation will be hosted by Snam CEO, Stefano Venier; and by Snam CFO, Luca Passa. In the presentation, Stefano will provide an overview of the strong financial and industrial results delivered over the last two years, the most relevant achievements on our ambition to build the pan-European multi-molecules infrastructure player, and key market highlights of the period.
Luca will provide the financial performance overview, which has been remarkable as well, the emission reduction progresses and the 2025 guidance. Then back to
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