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Italy's Snam sees 11.1% increase in H1'19 net profit

Aug 02, 2019 - SNL Energy Finance Daily

Italian gas operator Snam SpA on Aug. 1 reported net profit of 581 million in the first half of 2019, up 11.1% from 523 million in the year-ago period.

The company attributed the increase to higher income from equity investments and lower net financial expenses, as well as the growth in EBIT, which stood at 756 million in the first half of the year, compared with 729 million a year ago.

Snam booked 1.11 billion in first-half EBITDA, improving from 1.06 billion in the comparable...