(Reuters) -Italy’s gas grid group Snam said on Wednesday its adjusted core earnings rose 5.3% in the first half driven by growth in its gas infrastructure business, while confirming its full year guidance.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 1,49 million euros ($1.71 billion) in the period, and adjusted net profit rose by 8.5% year-on-year to 750 million euros.
Snam released its industrial plan for 2025-2029 in January, targeting 2025 adjusted EBITDA of 2.85 billion euros and adjusted net income of 1.35 billion euros.
“With gas demand expected to rise compared to last year, gas continues to prove its strategic role as a key energy vector for sustainable energy integration,” CEO Agostino Scornajenchi said in the company’s press release.
($1 = 0.8703 euros)
(Reporting by Laura Contemori in Gdansk; editing by Matt Scuffham)
