Snam SpA (OTCPK:SNMRY)

$ 9.29 0.115 (1.25%) Market Cap: 15.58 Bil Enterprise Value: 32.76 Bil PE Ratio: 13.50 PB Ratio: 1.93 GF Score: 75/100

Q4 2018 Snam SpA Earnings Call Transcript

Feb 19, 2019 / 02:00PM GMT

Transcript

Operator

Good afternoon, ladies and gentlemen, and thank you for standing by. Welcome to today's Snam Full Year Results 2018 Conference Call. (Operator Instructions) I must advise you the conference today is being recorded on Tuesday, the 19th of February 2019. Without any further delay, I would like to hand the conference over to your speaker today, Mr. Marco AlverÃ , CEO of Snam. Please go ahead, sir.

Marco AlverÃ

Snam S.p.A. - CEO & Director

Thank you. Ladies and gentlemen, good afternoon, and welcome to Snam's full year 2018 results. 2018 was a very good year for Snam. We performed above our targets across the business. Our CapEx plan is on track with EUR 0.9 billion invested in the year. Notwithstanding tightening incentives, we've managed to almost double our non-RAB regulated revenues to EUR 15 million.

Our efficiency program has to date delivered EUR 36 million of savings on operating costs, on track to meet our updated target of EUR 60 million by 2022. Cost of debt declined to 1.5% or a EUR 32 million saving on interest charges, thanks to the

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