Slide 1: 9M 2024 Consolidated Results
9M 2024 Consolidated Results November XX DATE7th YEAR , 2024 E N E R G Y I N F R A S T R U C T U R E F O R A S U S T A I N A B L E F U T U R E
Slide 2: 9M 2024 key highlights
9M 2024 key highlights energy to inspire the world Financial Highlights Key updates • € 2,089 m EBITDA Adj. (+12.2% yoy) • Edison Stoccaggio acquisition signed in July. Antitrust filing to be submitted shortly • € 996 m Net income Adj.1 (+5.7% yoy) • Adriatic LNG: EU Commission DG Competition’ green
Slide 3: Progressing on our ambition to become a Pan-European multi-molecules infrastructure operator
Progressing on our ambition to become a Pan-European multi- energy to inspire the world molecules infrastructure operator Gas infrastructure Energy Transition • Adriatic Line: Works for the phase 1 started in June and are on • CO2 injection started in August in Ravenna with good track performance •
Slide 4: Snam-Terna updated scenarios and perspective to 2050
Snam-Terna updated scenarios and perspective to 2050 energy to inspire the world Evolution of gas demand and energy mix under mid-term scenarios Perspective to 20502 (bcmeq.) 68.7 Illustrative3 70 0.2 61.7 59.5 0.3 0.9 59.4 60 5.0 52.7 9.6 50 2.0 7.1 0.2 0.2 10.4 40 10.4 68.5 30 61.4 CH4 20.0 51.6 5
Slide 5: Key infrastructure enabling secure and affordable energy along and beyond the transition
Key infrastructure enabling secure and affordable energy along energy to inspire the world and beyond the transition Key assumptions: Analysis of the long term utilization of transportation assets • A 45 bcm demand in 2040 and 35 bcm in 2050 Hydraulic simulations to assess, for each of the scenario,
Slide 6: Transition Plan Key Messages
Transition Plan Key Messages energy to inspire the world Our Ambition Risks and Opportunities in Energy scenarios Snam’s vision is to become a future-proof pan-European multi-molecule Snam's assets, investments and business model are resilient infrastructure operator in the face of climate change, a
Slide 7: Adj. EBITDA analysis
Adj. EBITDA analysis energy to inspire the world • Tariff RAB growth • Recover of 2023 LNG extra • Wacc increase revenues • Ross effect on transport €m 36 125 25 2,089 1 2 73 1 1,862 Mainly labour cost inflation • Super-ecobonus tax Energy update and new hires regime ended Transition 67 • Deconsolid
Slide 8: Adj. Net Income analysis
Adj. Net Income analysis energy to inspire the world €m 227 5 9961 942 75 15 25 • New assets entering Average net cost • Substantially flat • “ACE”2 fiscal benefit into operation of debt ~ 2.5% Italian Associates termination • Write down on gas • International • Higher EBT infrastructure Associates:
Slide 9: Associates' contribution
Associates’contribution energy to inspire the world €m 248 2 1 7 5 2 4 1 233 14 2 9 9M 2023 TAP SeaCorridor Terega Desfa ADNOC Interconnector EMG GCA TAG Italian 9M 2024 Associates Net income contribution 50 38 37 22 21 10 9 0 -23 69 9M 2024 (€m) 9
Slide 10: Cash flow
Cash flow energy to inspire the world • Absorption related to Balancing items partially counterbalanced by default service receivables decrease €m 719 1,668 1,249 419 949 50 -1,850 601 113 -664 Net Capex and Capex payables Dividend payment: -€93 m Hybrid instrument cash in: €9 9m Reported Depreciati
Slide 11: Net Debt evolution and financial structure
Net Debt evolution and financial structure energy to inspire the world Net debt evolution (m€) Maturities profile (bn€, drawn amount)1 664 15,934 15,270 3.5 1.8 2.2 1.6 1.7 0.4 FY 2023 2 9M 2024 2024 2 2025 2026 2027 2028 25-28 AVG Bonds Banking facilities Average Sustainable Finance on Committed fi
Slide 12: Closing remarks
Closing remarks energy to inspire the world Sound progress on the Roadmap to Net Zero delivery of our strategy outlined in our First Transition Plan ENERGY 2024 Improved INFRASTRUCTURE Value creation through Guidance confirmed FOR A M&A SUSTAINABLE FUTURE Solid growth Solid financial flexibility del
Slide 13: Q&A Session
Q&A Session
Slide 14: Annexes
Annexes
Slide 15: Sustainability Scorecard
Sustainability Scorecard energy to inspire the world 9M 2024 2027 9M 2024 2027 KPIs 2024 Target Target KPIs 2024 Target Target • Avoided CO2 emissions (ktCO2e)1 84.4 105 500 • Employees engagement index (%) EVERY TWO >80 >80 Green YEARS transition • H2 readiness length of network certified (km) 1,64
Slide 16: Gas demand and flows
Gas demand and flows energy to inspire the world Italian gas demand Gas flows Change Change bcm -2.7% bcm 9M 2023 9M 2024 (bcm) (%) 44.36 43.18 National production 2.12 2.00 -0.1 -5.3% Pipelines 34.89 33.44 -1.5 -4.2% Gela 1.87 1.09 -0.8 -41.7% Buildings 15.21 14.96 Mazara del Vallo 17.74 15.33 -2.4
Slide 17: Income Statement
Income Statement energy to inspire the world € mn 9M 2023 9M 2024 Change Change % Revenues 2,863 2,651 (212) (7.4%) Operating expenses (1,001) (562) 439 (43.9%) EBITDA 1,862 2,089 227 12.2% Depreciation & amortisation (691) (749) (58) 8.4% EBIT 1,171 1,340 169 14.4% Net interest income (expenses) (1
Slide 18: Revenues
Revenues energy to inspire the world € mn 9M 2023 9M 2024 Change Change % Regulated revenues 2,071 2,398 327 15.8% Transport 1,592 1,828 236 14.8% Storage 422 445 23 5.5% LNG 57 125 68 - Non regulated revenues 56 32 (24) (42.9%) Total Gas Infrastructure Businesses revenues 2,127 2,430 303 14.2% Ener
Slide 19: Operating Costs
Operating Costs energy to inspire the world € mn 9M 2023 9M 2024 Change Change % Gas Infrastructure Businesses costs 332 335 3 0.9% Variable costs 63 39 (24) (38.1%) Fixed costs 221 258 37 16.7% Other costs 48 38 (10) (20.8%) Energy Transition Businesses costs 669 227 (442) (66.1%) TOTAL COSTS 1,001
Slide 20: Balance Sheet
Balance Sheet energy to inspire the world € mn 2023 9M 2024 Change Change % Net invested capital 22,950 24,974 2,024 8.8% Fixed capital 23,002 24,047 1,045 4.5% Tangible fixed assets 19,304 20,229 925 4.8% Intangible fixed assets 1,449 1,504 55 3.8% Equity-accounted investments 3,019 2,970 (49) (1.6
Slide 21: Alternative performance indicators reconciliation
Alternative performance indicators reconciliation energy to inspire the world €m 9M 2023 9M 2024 Change Change % EBITDA 1,854 2,060 206 11.1 Exclusion of special items: - Capital losses on write-off of assets under development 8 (8) - Charges for a settlement agreement 29 29 Adj. EBITDA 1,862 2,089
Slide 22: International associates' contribution
International associates' contribution energy to inspire the world Company % 9M 2023 9M 2024 Delta • Inflation-indexed tariffs supporting company’s revenues gro th TAP 20.00% € 48 m € 50 m +€2m • 7.5 bcm or ~ 17% of Italian imports in 9M 2024 • Lower revenues due to lower imports from Algeria (ca.-2
Slide 23: Investments detailed by business
Investments detailed by business energy to inspire the world €m 9M 2023 9M 2024 Transport 1 765 1,225 Storage 148 160 LNG 2 157 327 Energy Transition 3 162 88 Total 1,232 1,800 30%4 taxonomy aligned and 50% SDGs aligned 1. Including corporate capex 3. Including Biomethane acquisitions 2. Including g
Slide 24: Disclaimer
Disclaimer energy to inspire the world Luca Passa, in his position as manager responsible for the preparation of financial reports, certifies pursuant to paragraph 2, article 154-bis of the Legislative Decree n. 58/1998, that data and accounting information disclosures herewith set forth correspond
Slide 25: Thank you
energy to inspire the world T H A N K Y O U