Snam SpA (OTCPK:SNMRY)

$ 9.29 0.115 (1.25%) Market Cap: 15.58 Bil Enterprise Value: 32.73 Bil PE Ratio: 13.50 PB Ratio: 1.93 GF Score: 75/100

Q1 2019 Snam SpA Earnings Call Transcript

May 15, 2019 / 12:00PM GMT

Release Date Price: $10 (-0.50%)

Transcript

Operator

Good afternoon, ladies and gentlemen, thank you for standing by, and welcome to today's Snam 2019 First Quarter Results Call. (Operator Instructions) I must advise you that this conference is being recorded today, 15th of May 2016 (sic) [2019]. And without any further delay, I would now like to hand the conference over to presenter today, CFO, Alessandra Pasini. Please go ahead, sir.

Alessandra Pasini

Snam S.p.A. - CFO, Chief International & Business Development Officer

Thank you. Ladies and gentlemen, good afternoon, and welcome to Snam's 2019 First Quarter Results Presentation. In the first quarter of 2019, we achieved strong results. EBITDA was up 4%, thanks to the increase in (technical difficulty) update and higher tariff RAB and the further effect of circa EUR 1 million related to our efficiency program, which has been launched in 2016. Net income was up 11%, thanks to lower interest cost deriving from (technical difficulty) positive impact of the liability management exercise carried out in December 2018 and second continuous management -- treasury

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