SNAM

Moody’s has raised the outlook for SNAM from “stable” to “positive” and confirmed the long-term issuer rating of Baa2. The decision follows the end of the takeover agreement for 24.99% of Viergas Gas Holding, which is expected to lead to stronger credit metrics; SNAM also announced for 2025 an EBITDA higher by €0.1bn and net debt lower by €0.4bn. Moody’s expects an FFO/net-debt ratio of around 12% for 2025–2027, sees no material risk of strategic realignment and anchors the rating on SNAM’s strong role in the Italian gas network and its regulated businesses. » Mere på de.investing.com

SNAM, Italy's leading gas infrastructure provider, currently pays about a 5% dividend and benefits from predictable cash flows from its extensive gas network. The business model is less dependent on volatile energy prices and allows an attractive dividend policy alongside moderate growth. With a P/E around 13 and expected high single-digit growth rates, long-term rising share prices appear possible, but investors should be aware of sector-specific risks. » Mere på de.investing.com

Snam raises its forecast for adjusted operating profit in 2025 to around €2.95 billion after a strong business performance in the first nine months. Adjusted EBITDA increased 6.6% to €2.23 billion, and adjusted net profit rose 10% to €1.1 billion. The planned acquisition of 24.99% of Open Grid Europe remains dependent on a decision by the Federal Ministry for Economic Affairs; a long-stop date is set for 17 November. » Mere på de.investing.com

Snam reports an adjusted net profit for Q3 2025 of €1.096 billion (+10%) and adjusted EBITDA of €2.127 billion (+6.6%). The interim dividend is raised by 4% to €0.1208 per share; the stock rose 1.69% to €5.546 after the announcement. Net debt fell slightly to €17.4 billion; the company reports progress on the Ravenna terminal and on CO2 capture/storage. Snam confirms its outlook with annual EBITDA of €2.95 billion, net profit of €1.42 billion and planned capex of €2.9 billion, and states its intention to acquire a stake in OGE. » Mere på de.investing.com

Snam reports adjusted EBITDA of €1.492 billion (+5.3%) and adjusted net profit of €750 million (+8.5%) for H1 2025. Gas demand in Italy rose by 6% in the reporting period, with LNG shares above 30%; key projects include the 35%-completed Adriatic pipeline phase 1 and the commissioning of the FSRU Ravenna. Investments amounted to €1.122 billion, net debt increased to €17.58 billion; Snam expects 2025 EBITDA of €2.85 billion and net profit of €1.35 billion and sees opportunities to exceed those targets. » Mere på de.investing.com