After launching the strategic plan 2017-2021Terna illustrated in Parliament the results obtained in the last three years, characterized by important goals despite the crisis and the financial difficulties that characterize the market. In view of the appointments to the top management of the main State investee companies which will be established within a month, the CEO presented the balance sheet of the commitments completed and the promises kept Matthew Del Fante during the hearing at the Industry Commission in the Senate held yesterday afternoon.
In the last three years, from 2014 to 2016, the revenues of the company that manages the national electricity grid grew by 11%, going from 1,9 to 2,1 billion euros. The Gross Operating Margin instead rose to 1,54 billion from the previous 1,49 (+4%), while net income jumped 25%. A result to which regulated activities contributed above all, which, in the reference three-year period, generated approximately 1,7 billion in profits, compared with 110 million deriving from non-regulated activities related to telecommunications, services for third parties and asset valorisation.
But the numbers listed above are not only positive for the company, but also for the shareholders who, from 2014 to 2016, were able to count on 1,2 billion in dividends distributed (60 cents of dividends for each share), while the market capitalization reached 9 billion euros, recording a growth of 15%
Starting from 2014 Terna's stock appreciated by 31,9% against a dividend yield of 4,6%. The performance contrasts with that of the Ftse Mib (which lost 12% in the same period), but also with that of the European sector index (-13%).
All of this was made possible thanks to ambitious projects and constant work which allowed Terna, in less than three years, to bring projects for around 3 billion euros, first of all the Sorgente – Rizziconi connection, the power line that connects Sicily to Italy and therefore to Europe with the longest alternating current submarine electric cable in the world.
The acquisitions are also important, such as that of the high and very high voltage electricity grid of the State Railways which took place in December 2015. Overall, the perimeter of the Company-managed assets climbed 15%. At this juncture, the prospects for the future appear to be encouraging. The 2017 development plan provides for 7,8 billion euros of investments in the network.
For the future, investments in the telecommunications and communications sector will also be very important optical fiber: "We invest in telecommunications when, by renewing our transmission network or building new sections, we install optical fiber in the guard wire, which is the connection between one support and another", explained Del Fante. "At that point that optical fiber can either be sold off or the space where another subject rents out its fiber can be rented," clarified the CEO.
Returning to the recent past, important steps forward have also been made on the sustainability theme. From 2014 to 2016, Terna entered 3 new sustainability indexes, while three of the main sustainability rating agencies placed the company led by Del Fante as sector leader.
