Terna increases revenue and net profit in the first nine months of 2014. Revenues rose by 3,3% to 1,447 billion, net profit grew by 1,5% to 417,8 million. The board of directors has decided to distribute an interim dividend for 2014 of 7 euro cents per share from 26 November.
“The first nine months of the year present good results which once again confirm efficiency and solidity despite an unfavorable economic situation. Our commitment to the development of the national transmission grid continues – says the CEO Matthew Del Fante – also with a view to integrating European networks. Constant attention is paid to the concrete opportunities that may arise, which we will evaluate only if they demonstrate industrial potential and are able to create value for our shareholders, to whom we confirm today the interim dividend for 2014″. Soon, at 16 pm, Del Fante will be available on a conference call to discuss with the analysts.
It's non-traditional activities to have boosted Terna's turnover in the first nine months (+43,6 million), substantially due to the revenues achieved by the Tamini group since the acquisition date (38,6 million euro) and due to greater activity on third-party plants. Another effect of the Tamini acquisition was the increase in operating costs, equal to 312,9 million euro, up compared to the first nine months of 2013 (+44,7 million). In addition, a note from Terna specifies, other non-recurring items have had an impact.
THEebitda margin remains substantially unchanged at 78,4% compared to 80,9% in the first nine months of 2013 but actually rises to 80,5% on a like-for-like basis.
Depreciation, amortization and write-downs for the period amounted to 343,4 million, up by 21,1 million euros compared to the same period of 2013, essentially due to the entry into operation of new plants.
THEebit is equal to 791,4 million, down compared to 810,7 million in the first nine months of 2013 (-2,4%). Net financial expenses for the period, equal to 99,8 million euros, show an increase of 28,9 million euros compared to 70,9 million euros in the same period of 2013, which was affected by higher financial income mainly due to more favorable assets. L'debt net financial position as at 30 September was 6,688 billion "substantially in line", concludes Terna's note, with the 6,625 billion as at 31 December 2013.
In the mid-afternoon, Terna's share on the Stock Exchange travels in the red by one percentage point, a 3,824 euro.
