• 2024 May 18 15:24

    SNAM's Q1 total revenues declined 1.9% to 895 million euros

    Adjusted net profit reached 335 million euros

    The Board of Directors of Snam, which met yesterday under the chairmanship of Monica de Virgiliis, approved the consolidated results for the first quarter of 2024 (unaudited).Q1 2024 total revenues reached 895 million euros, which is down 1.9% compared to the first quarter of 2023 and increase in regulated revenues related to the implementation of the investment plan, the increase in WACC and higher output-based incentives. Revenues from the energy efficiency business declined, particularly in the residential sector, SNAM said in its media release.

    EBITDA: 703 million euros (+17.8%), thanks to the growth in regulated revenues, partly absorbed by the lower contribution of the energy transition business.

    Group adjusted net profit: 335 million euros (+11.3%) attributable to the effect of the growth in EBITDA, which was partly offset by an increase in depreciation and amortisation connected with the entry into service of realized investments and current write-downs of assets, as well as by an increase in financial expense mainly due to the rise in interest rates.

    Net financial debt: 15,793 million euros (+523 million euros compared to 31 December 2023), up mainly due to the investments made during the period and the payment of the 2023 interim dividend.

    Total investments: 462 million euros (+47.5% compared to the first quarter of 2023), for higher investments related to the upgrading of the Ravenna and Piombino terminals. Out of the overall figure for total investment, 55% is aligned with the Sustainable Development Goals and 34% with the EU Taxonomy.

    “The results for the first quarter of 2024 are very positive, with investments and the main indicators showing a robust growth, both for domestic business and those of our associates, against a backdrop of continuing volatility at global level. The results achieved and the visibility of our business allow us to improve our 2024 EBITDA and net profit guidance, with a significant acceleration on the targets set out in our business plan”, Snam CEO Stefano Venier commented.


2024 June 19

18:17 Wärtsilä propulsion solutions expected to deliver 5% fuel savings for International Seaways tankers
17:42 TGS market overview report: Strong expectations continue in offshore wind despite short-term downgrades
17:09 Vestas receives 577 MW order in Australia for second stage of the 1.3 GW Golden Plains wind project
16:37 Wintershall Dea makes discovery in Cuvette exploration well
16:07 Equinor expands renewables portfolio in Poland with a new solar plant
15:52 Shell signs agreement to acquire Pavilion Energy
15:19 LR releases its 3rd alternative fuels report concerning LPG as marine fuel
14:39 Greek-owned Liberian-flagged ship hit in Red Sea sinks
14:32 Samsung Heavy Industries unveils revolutionary K-PAW welding technology
13:51 DOF awards new Constructor Compact ROV systems contract to Kystdesign
13:47 Mitsubishi Shipbuilding receives orders for Japan's first methanol-fueled RORO cargo ships
13:28 Sirius Shipping to charter out its new tanker duo to Preem for transportation of renewable fuels, feedstock
12:39 Chartwell and Vard to advance new SOV design working with North Star
11:23 Wartsila launches world’s first large-scale 100% hydrogen-ready engine power plant
11:14 Industrial-scale floating green ammonia plant project enters next phase
10:06 ABP signs MOU with Marine Power Systems to advance floating offshore wind technology
09:44 Port of Antwerp Bruges: Deurganckdok oil spill clean-up completed

2024 June 18

18:13 Atlantic Towing and Svitzer modernise Halifax port fleet with new escort tugboats
17:38 Port of Long Beach sets $760 million annual budget
17:28 Unifeeder and MPC Container Ships announce a new collaboration to make joint investments into Energy Efficiency Technology
17:16 Port of Koper welcomes Astrid Maersk, the world’s second large green methanol-enabled vessel
16:43 Gasum plans a large-scale biogas plant in Sweden
16:15 GONDAN Shipbuilders secures 31-meters passenger catamaran contract from Líneas Romero
15:39 CMA CGM to strengthen its INDAMEX service connecting Indian Subcontinent with US East Coast
15:11 Maersk wins a heavy lift contract from Vestas
14:07 South Korea bolsters shipbuilding industry with $10.75 billion financial support
13:41 MOL joins SFC focused on decarbonizing international logistics
13:11 Fred. Olsen Cruise Lines joins the ISWAN
12:22 Carnival Corporation celebrates shore power launch at PortMiami after exceeding industry-leading milestone
11:45 Nel ASA set to become a fully dedicated electrolyser company
11:24 Temasek signs agreement to divest Pavilion Energy
11:13 IMO's NCSR agreeds pilot transfer arrangements and amendments to SOLAS regulation V/23
10:47 LR awards Quoceant an IECRE Feasibility Statement for the Q-Connect
10:31 DNV: Global grid infrastructure to double by 2050 to meet surging electricity demand
09:43 Tarntank orders tenth hybrid chemical tanker

2024 June 17

18:16 Philippine supply ship bumped Chinese ship
17:49 Survitec secures JMSDF submarine escape suit contract
17:36 First mega cruise ship built for short cruises delivered to Royal Caribbean
17:14 Petroleum chemical product carriers drive order performance of Korea shipbuilding industry
16:37 MPA: Joint oil spill clean-up operations advance to next phase
16:23 Greek shipowners start investing in large new ships to transport ammonia
15:42 BV awards AiP to Antwerp-based Seafar for its remote vessel operation technology
14:31 USACE continues maintenance dredging at Markland Locks
14:29 Green Marine UK partners with C-Power to advance autonomous offshore power systems
13:17 Van Oord releases statement concering collision Vox Maxima with bunker vessel
12:04 Green Marine and Ocean Kinetics form JV Partnership to decomission OpenHydro tidal turbine in Scotland
11:52 ClassNK releases 2nd Edition “FAQs on the FuelEU Maritime”
11:07 Allision of dredger Vox Maxima was caused by a sudden loss in engine and steering control, MPA investigation showed
10:28 Sweden-Belgium Green Shipping Corridor expands ambition for the world's first green ammonia shipping corridor and welcomes new partner
09:23 APM Terminals calls first movers to join Innovators Program to enhance visibility and reliability for customers
09:11 Georgia Ports Authority sees 22% container growth

2024 June 16

16:18 Diana Shipping Inc. announces time charter contract for m/v Myrsini with Cobelfret S.A.
15:16 MPA: Joint oil spill clean-up operations in Singapore continue
14:27 Watershed moment for AMSA’s future maintenance on aids to navigation
14:07 Mammoet awarded construction upgrade of Hawaii dry dock
13:54 CMA CGM announces update on its IEX 2 service
12:31 Jan De Nul order first plug-in hybrid dredging vessel
10:26 Solstad announces contract extension for its CSV duo by Subsea 7

2024 June 15

14:15 VARD hosts a christening ceremony for third VARD 8 02 design stern trawler
12:03 TECO 2030, BLOM Maritime and Samskip receive ENOVA grant to retrofit Samskip LNG Vessel with fuel cells and hydrogen fuel
10:06 The 3rd of 12 plug-in hybrid vessel joins Swedish shortsea operator's fleet
09:51 S&P Global: Guangdong province's market-based power subsidy supports gas demand growth

2024 June 14

18:09 Strategic R&D alliance formed to standardize materials for LH2 carriers
17:44 BSEE conducts first offshore wind turbine inspection
17:23 Aker Artic completes ice-going SOV concept for offshore wind farms
17:19 Orsted completes construction of combined wind and solar project in Texas
16:57 MPA: Oil spill clean-up in progress at Pasir Panjang Terminal
15:37 ADNOC awards $5.5 billion of contracts for Ruwais LNG plant
15:11 Allseas awarded Troll extension pipeline
14:26 Havila Shipping inks deals for its three PSVs with Equinor