Terna, the company that manages the national electricity grid, is also coping with the coronavirus emergency. The outgoing managing director, Luigi Ferraris, therefore bequeaths a company in full health, which also in the first quarter of this year, despite all the difficulties, saw its accounts improve and did not stop on the investment front. actually grew by 32,3% compared to a year ago, to 217 million. The good performance also paid off on the stock market, where in the early afternoon the Terna share gained almost a percentage point, in contrast with the red sign of the Ftse Mib. In the last month, Terna gained 4,5% in Piazza Affari.
Going back to the accounts for the quarter, revenues grew by 5,7% to 567,5 million euros, recording an increase of 30,5 million euros compared to the corresponding period of 2019. This result is mainly attributable to the increase in revenues from Regulated Activities, together with the contribution from Non-Regulated Activities and International, in particular due to the performance of the orders of the Tamini Group, for the private Italy-Montenegro interconnector project and for the results of the concession activities in Brazil. EBITDA (Gross Operating Margin) in the first quarter of 2020 instead amounted to 434,2 million euros, up by 14 million euros compared to the 420,2 million euros of the first quarter of 2019, also in this case thanks to the result of Adjust.
THEEBIT (Operating result) for the period, after depreciation, amortization and write-downs of 152,2 million euros, stands at 282,0 million euros, up by 2,2 million euros compared to the first quarter of 2019 (+0,8, XNUMX%). The net financial charges, equal to 19,3 million euros, recorded an increase of 3,4 million euros compared to the 15,9 million euros of the first quarter of 2019, mainly due to the dynamics of inflation and capitalized financial expenses. also holds thegroup net income, which from January to March stood at 186,6 million euros, up by 0,6 million euros (+0,3%) compared to the 186,0 million euros of the first quarter of 2019. Finally, Terna, which has seen its employees grow (there are now 4.657), it is increasingly solid: the consolidated balance sheet as at 31 March 2020, it amounted to 4.329,8 million euro, compared to 4.190,3 million euro as at 31 December 2019.
“The positive results of the first quarter of the year – commented Ferraris – are the result of the constant process of acceleration of the Group's investments, testifying to Terna's strategic role in the energy transition process underway in our country towards the full integration of renewable sources. People, innovation, digitization and attention to local areas with a view to dialogue and listening continue to be the cornerstones of a Strategic Plan which places an increasingly safe, efficient and sustainable electricity grid at the center of all managerial actions at the service of the country and local communities".
