In the new 2012-2016 strategic plan, Terna plans to make investments of 6 billion euros, developing more than 300 construction sites throughout Italy when fully operational, for a value of 2,9 billion euros. An improvement in margins is also estimated: the Ebitda Margin in 2016 will be higher than 80%, up from the 78% target of the old plan.
A “new policy” is envisaged for dividends – reads the group's note -. Starting from 2012, a basic dividend from traditional activities is expected, equal to 19 euro cents per share, to which will be added the contribution of non-traditional activities (pay out of 60% on results and/or gains)".
Finally, to increase your financial flexibility, Terna could evaluate the sale of a group of assets in order to be able to make new investments of development.
In the wake of these numbers, Terna's stock on the Stock Exchange at the end of the morning earn more than one point in sharp contrast with the general index, which travels instead in negative territory.
For last year's accounts, the useful net of adjusted continuing activities amounted to 465,3 million (+1,1%), while investments for the network reached a record level, says the press release, of 1.219,8 million, up 5% on 2010 .
Il dividend total is 21 euro cents per share and the board of directors will propose June 18 as the payment date.
Still referring to last year, the EBITDA it stands at 1.229,7 million, with an increase of 54,8 million compared to 2010 (+4,7%). Ebitda margin went from 73,9% in 2010 to 75,2% in 2011. The Ebit (operating result) amounted to 835,6 million, up by 21,2 million (+2,6%).
"We have overcome a year of crisis in a very satisfactory way - commented the CEO of Terna, Flavio Cattaneo -. The negative economic situation and the Robin Hood Tax weighed heavily, but for the seventh consecutive year our results were still positive thanks to a preventive strategy on non-traditional and non-regulated business, innovation and technology”.
