Terna closes 2016 with revenues up to 2,1 billion and Ebitda in line with 2015: 1,54 billion, slightly above the announced guidance of 1,53 billion. Investments have reached 900 million and the group, led by Matteo Del Fante, is preparing to launch a 4 billion plan over the next 5 years (2017-21), with a 30% growth compared to the previous plan. The update is being presented in Milan where the CEO and front row managers are lined up to illustrate the new guidelines to the market. The group also intends to extend the dividend policy with an annual growth of 3% until 2021.
The keystone of the new plan is the development and modernization of the electricity grid in the face of the new technological evolution of the national system, where the presence of renewables is increasingly effective.
The strategic approach was explained by CEO Matteo Del Fante in the press release announcing the 2016 preliminary data and the essential objectives of the new five-year plan: “The world of energy is undergoing profound change and the energy transition phase that we are living presents us with new challenges. The grids are at the heart of this change and Terna's new Plan rests on solid foundations for creating an increasingly efficient, technologically advanced and interconnected transmission system at a continental level. For this reason, in the coming years we will focus on further strengthening the lines in Italy and on developing interconnections with foreign countries, to continue generating benefits for businesses and citizens, while respecting the environment”.
Terna has achieved the 2016 objectives presented with the previous plan and is aiming for an increase in revenues to 2,3 billion and growth in Ebitda to 1,7 billion at the end of the period, with an average annual growth of 2%.
The contribution of non-regulated activities is also consolidated, the contribution of which to Ebitda is expected to be 350 million over the 5 years.
Net financial debt in 2016 amounted to approximately 8 billion euros, in line with the figure recorded at the end of 2015 (8.003 million euros).
Lastly, the BoD decided to convene an extraordinary meeting to submit to the shareholders some "amendments to the bylaws to supplement the regulation on list voting in the event that the list that obtains the highest number of votes does not have a sufficient number of candidates to ensure the achievement of the number of candidates to elect".
"Furthermore, clarifications will be proposed - the press release continues - in the context of these articles aimed, in particular, at clarifying the principle, already implicit in the law, whereby in all cases in which the appointment of directors or statutory auditors takes place apart from the hypothesis of renewal of the entire body as well as in all other cases in which, for whatever reason, it is not possible to elect the directors and statutory auditors with the list voting procedure, the Shareholders' Meeting resolves with the legal majorities in order to ensure compliance with current legislation.
