Day of annual meeting for Terna and Saipem. For Terna, the CEO Stefano Donnarumma does not hide his satisfaction, immediately highlighting the positive closure of a difficult year.
"Despite the complex scenario linked to the health emergency - the CEO began during the annual meeting, which met without the physical presence of the shareholders for anti-Covid reasons - Terna's stock closed 2020 on a positive note, in contrast to the performance of the main European markets, at 6,250 euro/share equal to an annual performance of +4,97%”.
"Considering both the stock market performance and the impact of the dividends paid during the year - he adds - Terna's share guaranteed a total return for its shareholders of 9,36 per cent".
However, Terna's shareholders were present at a distance, conferring 66,71% of the capital and they approved the 2020 budget accounts, which closed with a group net profit of 785,5 million euros. The shareholders also approved the distribution of a dividend for the 2020 financial year of 26,95 eurocents per share, in line with the policy declared to the market (+8% compared to 2019), of which 9,09 eurocents already paid last November as an advance, while the remaining 17,86 cents per share will be paid next June. "In 2020 Terna noted an improvement in all economic-financial indicators, having been able to give a strong acceleration to the implementation of investments immediately after the lockdown period" summarized the CEO Donnarumma recalling that the results achieved in 2020 reached the level highest in the history of the Group.
Even the president Valentina Bosetti wanted to underline that “Terna was able to give a formidable proof of resilience, putting its technological capacity, its cohesion and its vision of the future at the service of the country. If the country held out, it was also thanks to the stability of the electricity system, which hinges on the grid that Terna manages".
Friday was also the day of the Saipem assembly which approved the 2020 financial statements and the changeover between Stefano Cao and Francesco Caio (until now president) at the helm of the company. Among the main shareholders, Eni stands out with 30,5% and Cdp Industria with 12,55%. "I would like to thank the Board for the work done and the support in the management of this last difficult three-year period", declared the outgoing CEO Stefano Cao, wishing the new management to continue the important enhancement work carried out so far in favor of the stakeholders and the Italian system. Opening the work, Francesco Caio had instead confirmed a 2021 scenario still "conditioned by the pandemic"especially in the first half of the year. After the halt of activities in Mozambique Saipem "is not currently able to provide precise financial guidance", although the volumes for the year are well supported by the rich order book and it is expected for exercise “Adjusted EBITDA at a level similar to 2020”.
Approved by a large majority (99,8% of the capital represented) the appointment of the president Silvia Merlo. Alessandra Ferone, Pier Francesco Ragni, Marco Reggiani and Paola Tagliavini, expression of the list presented by Eni and Cdp, which obtained 67,16% of the votes in favour, and Simon Schapira, Roberto Diacetti and Patrizia Michela Giangualano were also appointed to the BoD drawn from the minority list expressing the funds, which obtained 22,84% of the votes.
The assembly approved by majority the determination of the remuneration to directors, set at 70 thousand euros gross plus expenses, and the 2021 Report on the remuneration policy and fees paid (first and second sections). Green light also to proposal to purchase treasury shares up to a maximum of 3,5 million shares and the purchase of shares to service the long-term incentive plan.
