Terna concluded the first quarter of the current year with a group net profit down by 1,8% to 162,2 million euro. Revenues, on the other hand, grew by 0,8%, rising to 517,2 million thanks above all to the increase in revenues relating to Non-Regulated Activities for 11,6 million euros and taking into account the reduction in revenues relating to Regulated Activities for 7,4, XNUMX million euros.
This was announced in a press release by the company, adding that Ebit for the quarter amounted to 263,9 million (-6,2%) while Ebitda fell to 395,1 million, down by 6,5 million euros ( -1,6%) compared to 401,6 million euros in the first quarter of 2015.
The total investments made by the Terna Group in the first three months of 2016 amounted to approximately 158 million euros, compared to 177,2 million euros in the same period last year.
“The results for the first quarter of 2016 – declared Matteo Del Fante, Terna's Chief Executive Officer – are in line with the objectives of the guidance for the year and overall reflect the effects of the new tariff system established by the AEEGSI for the remuneration of transmission and dispatching of energy, as well as the effects of the acquisition of the high voltage electricity grid of Ferrovie dello Stato. The contribution of Non-Regulated Activities is also confirmed, increasingly an integral part of the Group's strategy, and of the benefits deriving from the efficiency improvement activities launched in 2015. With a positive and clear regulatory framework - continued the CEO - Terna will continue to commit further for the infrastructural development of the country, with increasingly selective investments for electricity networks, technological, smart and sustainable solutions, also from a European point of view for the completion of the electricity market".
Going back to the numbers, the consolidated balance sheet as at 31 March 2016 shows Group shareholders' equity of 3.469,4 million euros, compared to 3.320,8 million euros as at 31 December 2015.
On Piazza Affari, after the publication of the accounts, Terna's share gained 0,58% to 4,878 euros.
