Snam S.p.A. financial review
Snam S.p.A. is an industrial holding company listed on the Milan stock exchange. In Italy, through the full operative subsidiaries Snam Rete Gas S.p.A. and Infrastrutture Trasporto Gas S.p.A. (ITG), GNL Italia S.p.A. and Stogit S.p.A., respectively oversee the business of natural gas transmission, regasification and storage. Through newcos and acquired companies, it is also present in the sustainable mobility and energy efficiency businesses.
Snam S.p.A. operates in Europe through agreements with the leading industry players and direct equity investments in the share capital of companies., in the main continental energy corridors. Through its subsidiaries, it operates in Austria (TAG and GCA), France (Terēga), Greece (Senfluga) and the United Kingdom (Interconnector UK) and is amongst the main shareholders of TAP (Trans Adriatic Pipeline).
Snam S.p.A. is also responsible for the strategic planning, management, coordination and control of its subsidiaries.
Shareholder CDP S.p.A. declared, with effect from the financial statements as at 31 December 2014, that it had de facto control over Snam S.p.A.[pursuant to accounting standard IFRS 10 - Consolidated Financial Statements]. No management and coordination activity has been formalised or exercised.
As at 31 December 2018, CDP S.p.A. holds, through CDP Reti S.p.A.33 30.37% of the share capital of Snam S.p.A.
33 Company in which CDP S.p.A. holds a share of 59.10%.