Terna closes the first quarter with all indicators growing: in particular revenues rise to 513,3 million (+7,4% on the first quarter of 2014), the gross operating margin rose by 2,9% to 401,6 million and the net profit for the period leaps to 165,2 million (+13,8%). The data were illustrated by the managing director Matteo Del Fante in the board of directors who approved them today.
“The main economic indicators confirm this a good growth trend also in this first quarter of the year. The path aimed at greater operational efficiency – declared the CEO – and the generational turnover process, has been launched. Terna will continue to generate benefits for Italian businesses and households and create value for its shareholders, thanks to its constant commitment to developing the national electricity transmission grid, also with a view to integrating European grids, and to the greater efficiency of the dispatching service ”.
Operating costs and depreciation of the group increased. Costs amounted to 111,7 million (+23,9 million), "also as a result of the costs incurred in the period from the management of the Tamini Group – specifies the note from Terna – not part of the Terna Group in the first quarter of 2014, and some non-recurring elements”. Depreciation, amortization and write-downs, on the other hand, increased by 7,4 million to 120,3 million "due to the entry into operation of new plants".
The incorporation of Tamini also had effects on the Ebitda margin which stood at 78,2% compared to 81,6% in the first three months of 2014, "substantially due to the dilutive effect of the consolidation of the Tamini Group". On a like-for-like basis, the margin would have been 81,3%.
Taking into account the net financial charges, substantially in line with the figure for the same period of 2014 (0,4 million euro), the pre-tax result stands at 250,3 million, an increase of 4,4 million compared to the figure for the corresponding period of the previous year (+1,8%).
Total investments made by the Group rise to 177,2 million (+7,9%). As at 31 March 2015, Terna underlined, in particular, “the progress of the construction sites of the Italy-Montenegro electricity interconnection, of the Sorgente-Rizziconi power lines (between Sicily and Calabria), Paternò-Pantano-Priolo (in Sicily), Udine Ovest-Redipuglia ( in Friuli Venezia Giulia) and Foggia-Villanova (between Puglia and Abruzzo), and Energy Intensive and Power Intensive storage systems located mainly in Southern Italy and the major islands".
Consolidated equity as at 31st March it rose to 3,27 billion from 3,09 as at 31st December 2014.
The number of employees falls: at the end of March 2015, there are 3.717. The company has started the generational turnover through early retirement incentives which have benefited 121 people close to retirement; at the same time, the program for the introduction of new young professionals began, which has already registered 41 entries during the quarter.
