Terna, revenues for the three months rise to 858 million. Investment boom

Terna closes the first three months of 2024 with revenues of 858.1 million euros (+20.4% on the same period of 2023), Ebitda of 627.9 million (+25.6%), group net profit for the period to 268.2 million euros (+34.0%).

This was announced by the Italian electricity network management company, noting a jump in investments to 482.7 million (+53.3%). Among the main projects of the quarter, noteworthy are the progress of the Tyrrhenian Link, both in the ‘Eastern Branch’, between Campania and Sicily, and in the ‘Western Branch’, between Sicily and Sardinia, and those for the Adriatic Link, the submarine power line which will unite Abruzzo and Marche and which, in January 2024, obtained the authorization decree from the Ministry of the Environment and Energy Safety (MASE). And then the interventions to increase the safety and efficiency of the high and very high voltage electricity grid in the areas affected by the “Milan-Cortina 2026” Olympic and Paralympic Games, the construction activities of the ‘Colunga-Calenzano’ connections (between Emilia-Romagna and Tuscany), ‘Cassano-Chiari’ (in Lombardy) and those to increase the exchange capacity between the different areas of the electricity market in Sicily.

Net financial debt increased slightly to 10,587.0 million compared to 10,494.3 million at 31 December 2023.

“The first quarter results highlight that the record growth in investments was accompanied by robust performances in all economic indicators. The results of the quarter once again demonstrate the excellence of our people in creating value for Terna and its stakeholders, strengthening the strategic role of the Group at the service of the country”, declared Giuseppina Di Foggia, CEO and general manager of Terna in a note. “The data confirms that we have taken the right path in the execution of the new 2024-2028 Industrial Plan which will see us make the highest investments in Terna’s history, equal to 16.5 billion euros. Our strong commitment, combined with a broader vision that we have given ourselves with the new Plan, will allow us to support and promote an energy and digital transition that is also a fair, inclusive process that is attentive to the possible impacts on all the subjects with whom we operate: workers, local communities and suppliers”, added Giuseppina Di Foggia.