After the assembly the time has come for the quarterly accounts. Positive results for Terna in the first three months of 2019, closed with revenues up by 2,7% compared to the same period last year to 537 million. The growth, explains the company led by Luigi Ferraris, is mainly due to the increase in "regulated activities which reflects the adjustment of the rate of return on invested capital" (WACC).
Same percentage of growth (+2,7%) for theebitda which reaches 420,2 million euros, while the net profit it stands at 186 million, recording an increase of 1,8%.
Double-digit increase for the investments, which in the first quarter of 2019 amounted to 164,4 million euros, 16,1% more than the same period last year, and are directed towards the main projects such as the progress of construction sites for the Italy-France electricity interconnections and Italy-Montenegro and the works for the rationalization of the electricity grid in the city of Rome. In the face of this leap forward, net financial debt remained stable at 31 billion euro as at 7,918 March from 7,899 billion in December.
THEebit, after amortization and depreciation of 140,4 million, is equal to 279,8 million euros (+1,1%), while the pre-tax result it is at 263,9 million, up by 4,6%.
On the property front, the net assets group share rises to 4,162 billion from 4,019 as at 31 December 2018.
"I am very satisfied with the positive results of the first quarter of the year which confirm the virtuous growth path already outlined in the 2019-2023 Strategic Plan", states the CEO Ferraris. “The strong acceleration in investments places Terna once again at the center of the energy transition process towards complete decarbonisation and full integration into the grid of energy produced from renewable sources. Furthermore, Terna's strong commitment to innovation continues through these investments, also through the opening of Innovation Hubs in the area to encourage the development of an increasingly secure, resilient and sustainable grid” declared Luigi Ferraris, Chief Executive Officer and General Manager of Terna”, concludes the manager.
At Piazza Affari the Terna stock gains 0,45%, clearly beating the Ftse Mib (-1,2%) which is experiencing yet another difficult day due to international trade tensions and the rise in the spread.
