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

Q2 2020 Snam SpA Earnings Call Transcript

Jul 30, 2020 / 02:00PM GMT

Release Date Price: $10.38 (-2.63%)

Transcript

Operator

Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Snam First Half 2020 Interim Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Marco AlverÃ , CEO of Snam. Please go ahead, sir.

Marco Alvera

Snam S.p.A. - CEO & Director

Good afternoon, ladies and gentlemen. Welcome to Snam's 2020 interim results presentation.

In terms of gas demand, there are a number of trends at play. The COVID-19 impact on a weather-adjusted basis is around 6.5% in the first half. As restrictive measures have been listed, there are signs of recovery, in particular, in the industrial sector.

Turning to Snam's performance in the first half. After the closure of most of our work sites, our CapEx program has now ramped back up to pre-COVID levels. We have started the pipeline replacement between Rimini and Sansepolcro and the public permitting process via process on 4 large replacement projects, which are in the center of Italy and in Sicily, have also started.

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