Terna closed 2012 by scoring a profit of 464 million, up 5,5% on an annual basis and beyond analysts' expectations (Banca Imi 457,5 million euro) . Well too revenues, increased by 10,4%, to 1.806 million, while the total investments amounted to 1.235 million euro, recording an increase of 0,5% compared to 1.229 million in 2011.
The accounts were approved today by the board of directors of the company that manages the national electricity grid. The Board also proposed the distribution of a dividend of 0,20 euros per share (slightly down on the 0,21 euro of 2012), of which 7 cents already paid as an advance and 13 to be paid in June. The coupon is in line with analysts' expectations, but slightly above the floor indicated in the latest presentation of the strategic plan (0,19 euro per share).
“We also close 2012 with very good results, which bear witness to the professional excellence achieved by Terna's team – commented Terna's CEO, Flavio Cattaneo -. This eighth consecutive year of growth gratifies us for the work done, whose objectives have been and remain an increasingly efficient and secure electricity grid and the creation of value, with a strategic approach that combines the core business with the development of projects in non-traditional activities . The record level of investments and the 2012 dividend confirm Terna's attention to the electricity system and shareholders”.
Revenues were driven by the transport of energy on the national transmission grid and the results achieved by non-traditional activities (86 million euro). Among the other balance sheet data previously communicated by the company are a EBIT from 969 million euros (+15,9%) and a Ebitda to 1,390 billion (+13%). L'net financial debt rose to €5.855 million from €5.123 million at 31 December 2011.
Exercise 2013 will see the company engaged in the implementation of the provisions of the 2013-2017 strategic plan approved on 6 February and aimed at the corporate reorganization process which provides for a corporate structure with a greater focus on non-traditional activities as well as the consolidation of traditional activities.
At the end of the morning, Terna's share on the Stock Exchange gained 0,32%.
