BAKU, Azerbaijan, March 15. Snam's adjusted EBITDA in 2023 reached 2.417 billion euros, Trend reports.
According to the company's latest financial report, this marked a rise of 180 million euros (8 percent) year-on-year.
This increase can be attributed to the growth in the gas infrastructure sector (+144 million euros; +6.5 percent), primarily driven by the expansion of regulated revenues linked to the RAB and output-based incentives, Snam explained.
While fixed costs associated with the commissioning of the FSRU plant in Piombino had an impact, they were partially mitigated by reduced net losses (or gains) from asset disposals, the company noted. Additionally, there was an uptick in the contribution of the energy transition businesses (+36 million euros), notably the energy-efficiency division (+29 million euros; +76.3 percent).
Morepver, in the 2023 fiscal year, Snam's adjusted EBIT amounted to 1.477 billion euros, showing a rise of 113 million euros (+8.3 percent) compared to the corresponding figure for the 2022 fiscal year.
This increase stems from the EBITDA shift and increased depreciation and amortization costs (-67 million euros, or 7.7 percent), primarily due to the launch of new assets, such as the FSRU in Piombino, with depreciation linked to the duration of the state-owned concession.