Terna closed on first quarter of the year and growing results: revenues at 901,8 million (+5,1% on the same period of 2024), Ebitda at 652,0 million (+3,8%), group net profit at 275,3 million (+2,6%). Double-digit growth in investments at 562,1 million (+16,4%), "to the benefit of the security of the Italian electricity system and the energy transition" explains the company in a note on the accounts after approval by the board of directors. Net financial debt is 11.126,6 million euros (down from 11.160,4 million euros at 31 December 2024). A Business SquareMeanwhile, the title is travelling in positive territory during the morning.
Terna, first quarter profit growth: the details
Terna explains that during the first three months of 2025 there was “a constantly evolving context and a demand for electric energy in Italy slightly reduced (-0,7%) compared to the same period in 2024".
In detail, revenues increased largely due to "the growth in revenues from Regulated Activities, mainly attributable to the impact on the transmission fee of the recognition of the tariff update, net of the output-based incentives recorded in the first quarter of 2024. TheEbitda (gross operating margin) for the period grows “primarily due to the better result of Regulated Activities”, the Ebit (operating result), after depreciation and amortization equal to 219,2 million, stands at 432,8 million (+3,4%). The pre-tax result stands at 394,0 million (+3,1%).
Terna, where are Tyrrhenian and Adriatic Link at?
Among the Main projects of the quarter, the company operating the electricity transmission networks reports the progress of the Tyrrhenian Link, the submarine electrical connection between Campania, Sicily and Sardinia in whose Eastern Branch, the one between Campania and Sicily, the laying of the first submarine cable was completed in May, having begun in February 2025. In addition to this, there is progress on the connection between Tuscany, Corsica and Sardinia, of theAdriatic Link, the submarine power line between Abruzzo and Marche, and those of the works to increase the safety and efficiency of the high and very high voltage electrical network in the areas affected by the Olympic and Paralympic Games “Milan-Cortina 2026”. Furthermore, during the first quarter of 2025, 12 interventions for the development of the National Electricity Transmission Network were authorized by the Ministry of the Environment and Energy Security and the competent regional departments, for a total amount of approximately 240 million euros.
Terna, Di Foggia: “Investing in infrastructure is fundamental”
"I recent events to the Iberian Peninsula electricity grid demonstrate how essential it is to continue and intensify investments in infrastructure for the energy transition and, in particular, for a secure, resilient and interconnected electricity system. Terna continues to be committed to achieving the ambitious objectives of the industrial plan, with over 560 million euros invested in the first three months of 2025 and with a target for the year of approximately 3,4 billion euros. These are significant numbers that strengthen the strategic role of the group in serving the country and which, combined with the robust quarterly performance of all economic indicators, are possible thanks to the expertise of all Terna people, the main resource on which we can count.' This was stated Josephine of Foggia, CEO and General Manager of Terna, commenting on the quarterly results.
Terna, 2025 forecasts: revenues and investments
“A significant increase is expected during 2025 weak global economic growth made even more uncertain by trade tensions between the world's major economies, exacerbated by the increased risk of the introduction of further protectionist measures which could generate a new inflationary push. Furthermore, geopolitical tensions could persist or even intensify with negative impacts on political and economic stability. In this scenario, the Terna group will be focused on the implementation of what is foreseen in the update of the Industrial Plan 2024-2028“. This can be read in the foreseeable evolution of management contained in the press release issued by Terna regarding the results of the first quarter. For the 2025 It is expected that Terna will be able to achieve revenues of 4,03 billion euros, an Ebitda of 2,70 billion and a Group net profit of 1,08 billion. With specific reference to the Investment Plan, the group has a 2025 target of approximately 3,4 billion euros. Despite the acceleration of investments, Terna confirms its commitment to maintaining a solid and sustainable capital structure.