Italy's Snam reports 16% rise in H1 core profit, eyes hybrid bond
MILAN, July 31 xx (Reuters) -Italy's gas grid company Snam SRG.MI said on Wednesday its adjusted core earnings rose 16% in the first half of this year, adding that it could issue a hybrid bond of up to 1.25 billion euros by end-2025 to fund recent acquisitions.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 1.42 billion euros ($1.54 billion) between January and June.
The group - which last week announced a long-awaited deal to buy three gas storage sites from Edison EDNn.MI - said the EBITDA growth was underpinned by the performance of its regulated businesses.
($1 = 0.9223 euros)
Reporting by Francesca Landini, editing by Gianluca Semeraro
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