SNAM Group reported net profit of €932 million in the first nine months and forecasting at least €1.13bn in guidance for this year.
The group said the profit was in line with expectations, reflecting the soundness of the gas infrastructure business and good performance of associates. Total revenues rose 10.3% year-on-year to €2,400 million.
Capital expenditure rose 2% to €883 million with net debt standing at €12,945 million.
Stefano Venier, CEO, said performance in the first nine months confirms the soundness of the group’s action even in an environment clouded by uncertainty.
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