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Snam Q2 profit climbs 16.2% YOY

Snam SpA said its second-quarter normalized net income came to 6 euro cents per share, an increase of 18.5% from 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €188.8 million, a gain of 16.2% from €162.5 million in the prior-year period.

The normalized profit margin climbed to 29.6% from 26.6% in the year-earlier period.

Total revenue climbed year over year to €638.0 million from €610.0 million, and total operating expenses rose on an annual basis to €277.0 million from €266.0 million.

Reported net income rose 36.5% year over year to €251.0 million, or 7 cents per share, from €183.9 million, or 5 cents per share.