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Snam

Snam S.p.A.
Type Public (Società per azioni)
Traded as BIT: SRG
Industry Gas industry
Founded October 30, 1941 (1941-10-30)
Headquarters San Donato Milanese, Italy
Key people Lorenzo Bini Smaghi(Chairman)
Carlo Malacarne (CEO)[1]
Services Natural gas transmission, storage and distribution
Revenue €3,848 million (2013)[2]
Operating income €2,034 million (2013)[2]
Profit adjusted net profit: €934 million (2013)[2]
Employees 6,045 (2013)[2]
Parent Snam [3]
Subsidiaries Stogit
Italgas
Snam Rete Gas
GNL Italia
Website .it.snamwww

Snam S.p.A. (BIT: SRG) is an Italian natural gas infrastructure company. As of 31 December 2012, it had a market capitalization of €11.9 billion.[4] Snam was originally a subsidiary of Italian energy company Eni. It has since become an independent company, whose largest shareholder is Cassa Depositi e Prestiti S.p.A, a holding company controlled by the Italian state. The utility mainly operates in Italy and is one of Europe’s leading regulated gas utilities. Its main peers, in the regulated gas and electricity sectors in Italy and in Europe,[5] are:

  • Terna (Italy): the main grid owner, responsible for high voltage electricity transmission and dispatching nationwide
  • Enagas (Spain): Technical Manager of the Spanish gas System and the main carrier of natural gas
  • REE - Red Eléctrica de España (Spain): manages the transmission grid and acts as sole transmission agent; it is also the System Operator
  • National Grid (UK): operates in the regulated businesses of transmission and distribution of electricity and gas mainly in the UK and northeastern US

History

Snam was founded on 30 October 1941 in San Donato Milanese, Lombardy, with the name "Societá NAzionale Metanodotti".

On 1 June 2001, it changed its name to Snam Rete Gas. It has been on quoted on the Milan S&P/MIB Stock Exchange since 6 December 2001.[6] On 1 January 2012, it was renamed with the original name of Snam.[7]

Subsidiaries

Snam has following subsidiaries:

  • Snam Rete Gas S.p.A.: the transmission system operator for natural gas;
  • Italgas S.p.A. and its subsidiary Napoletana Gas):the distribution group for natural gas ;
  • Stogit S.p.A.: storage of natural gas;
  • GNL Italia S.p.A.: for the regasification of liquefied natural gas.[8]

Shareholders structure

Shareholder[9] Stake
CDP Reti S.r.l[10][11] 30%
ENI[10][11] 8.54%
Bank of Italy 0.80%
Treasury share 0.03%
Retail Investors 9.56%
Institutional Investors 51.07%

As of May 2014.

Board of Directors

Appointed by the Shareholders’Meeting on March 2013[12]

Role Name and surname
Chairman Lorenzo Bini Smaghi
Chief Executive Officer Carlo Malacarne
Director Sabrina Bruno
Director Alberto Clô
Director Francesco Gori
Director Roberta Melfa
Director Andrea Novelli
Director Elisabetta Oliveri
Director Pia Saraceno

Sustainability

Snam's approach to sustainability is based on Shared Value,[13][14] a concept elaborated by Michael E. Porter in collaboration with Mark R. Kramer that explores the link between a company and its environment and their mutual interdependence.[15] In order to create Shared Value, Snam promotes sustainable development along its entire transport, dispatchment, regasification, storage and distribution process.[13]

In 2009 [16] the company joined the United Nations Global Compact [17] and since 2006 has published a sustainability report in accordance with the Global Reporting Initiative's guidelines.[18][19] Moreover, Snam operates within the reference framework of the United Nations Universal Declaration of Human Rights, the Fundamental Conventions of the ILO and the OECD Guidelines on Multinational Enterprises.[20]

Its commitment towards the environment focuses on the reduction of greenhouse gas emissions and safeguarding biodiversity.[21] Among its social initiatives, Snam partners with Legambiente [22] and Federparchi [23] and, in 2012, joined the Sodalitas Foundation, which seeks to build bridges between the entrepreneurial world in Italy and the non-profit sector.[24]

See also

References

  1. ^ Management
  2. ^ a b c d "Annual Report 2013". Snam. 
  3. ^ Company structure
  4. ^ http://www.snam.it/en/Investor_Relations/Snam-Stock/Market-capitalization/
  5. ^ http://www.borsaitaliana.it/bitApp/view.bit?lang=it&target=StudiDownloadFree&filename=pdf%2F88499.pdf
  6. ^ http://www.snam.it/it/investor-relations/
  7. ^ http://www.snam.it/it/chi-siamo/la-storia/
  8. ^ http://www.snam.it/it/chi-siamo/struttura-societaria/
  9. ^ "Snam: Shareholders Structure - Updated to May 2014". 
  10. ^ a b "Consob - Major shareholders - 07/11/2013". 
  11. ^ a b "Borsa Italiana - Major shareholders - 07/11/2013". 
  12. ^ "Snam - Board of Directors". 
  13. ^ a b "Snam - Sustainable Development". 
  14. ^ "Snam - Shared Value". 
  15. ^ "Article: Creating Shared Value - Harvard Business Review". 
  16. ^ "Snam - Snam and Global Compact". 
  17. ^ "United Nations Global Compact". 
  18. ^ "Snam - Sustainability Report". 
  19. ^ "Global Reporting Initiative". 
  20. ^ "Snam - Social Area". 
  21. ^ "Snam - Climate Change and Biodiversity". 
  22. ^ "Snam - Snam and Legambiente". 
  23. ^ "Snam and Federparchi". 
  24. ^ "Snam with Sodalitas". 

External links

  • Official website
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