Header Background

Snam in 2015

Directors’ Report (Photo)


Net profit:

€1,238 million (+3.3%);
€1,209 million when adjusted (+12.2%)

We obtained ISO 14001 certification for our environmental management system across the whole Snam Group

We supported our growth strategy with €1.27 billion of technical investments

Free cash flow:

€771 million, an increase of €474 million compared with 2014

We successfully completed our liability management transaction:

buying back outstanding bonds with a total nominal value of around €1.0 billion and an average residual maturity of less than two years, and simultaneously issuing a new eight-year bond worth €0.75 billion

Acquired 20% of TAP for a total outlay of €208 million

Around 85% of our employees took part in training activities. We provided an average of about 26 training hours per employee


The Snam share price ended 2015 at €4.848, +17.8% compared with the end of 2014

We proposed to award our shareholders a dividend of €0.25 per share

Signed 65 contracts with customers to connect new gas delivery/redelivery points on the transportation network (+44.4% compared with 2014)

There was a further reduction in contract worker accident frequency (-27.7% compared with 2014)

to pagetop