Adnkronos Rome, 25 March (Adnkronos) – In the five years of the Plan, Terna's investments will rise to a total of 17,7 billion euros (+7%, equal to 1,2 billion euros more in the same time frame). The group announced this after the Board of Directors, which met today under the chairmanship of Igor De Biasio, examined and approved the Update of the 2024-2028 Industrial Plan and the Group's results at 31 December 2024, presented by the CEO and General Manager Giuseppina Di Foggia.
Furthermore, of the 17,7 billion euros of total Group investments in the period 2024-2028, Terna plans to invest 3,4 billion euros in 2025. Despite the acceleration of investments, Terna confirms "its commitment to maintaining a solid and sustainable capital structure, also through the issuance of additional hybrid instruments. The average cost of net debt in the Plan is expected to be 3,1%, an improvement compared to the 3,3% expected in the previous Plan".
Terna closed 2024 with revenues of €3,680 billion, an increase of €493,5 million (+15,5%) compared to 2023. EBITDA for 2024 stood at €2,566 billion, up €397,8 million compared to 2023 (+18,3%), due to the improved result of Regulated Activities. EBIT, after depreciation, amortization and write-downs of €889,0 million, stood at €1.677,4 million, compared to €1.362,3 million in 2023 (+23,1%). Group net profit for the year stood at €1,061 billion, up €176,5 million (+19,9%) compared to €885,4 million in 2023.
The consolidated balance sheet shows Group net equity of €7.524,2 million, compared to €6.324,4 million at 31 December 2023. Total investments made by the Terna Group in the financial year amounted to €2.692,1 million, a strong increase (+17,6%) compared to €2.290,0 million in 2023. The main projects of the financial year include the progress of the Tyrrhenian Link, the submarine electrical connection between Campania, Sicily and Sardinia, in whose Eastern Branch, between Campania and Sicily, the first phase of laying the submarine cable began in the early months of 2025. Added to this are the advances of the Adriatic Link, the submarine power line between Abruzzo and Marche and the connection between Tuscany, Corsica and Sardinia (Sa.Co.I.3), as well as the interventions to increase the safety and efficiency of the high and very high voltage electricity grid in the areas affected by the Olympic and Paralympic Games 'Milan-Cortina 2026', those to increase the exchange capacity between Calabria and Sicily (Bolano-Annunziata connection), between the different areas of the electricity market in Sicily (Paternò-Pantano-Priolo connection) and the construction activities of the Colunga-Calenzano connections, between Emilia-Romagna and Tuscany, and Cassano-Chiari, in Lombardy.
To finance the significant growth in investments to support the development of an even more efficient, resilient and digital electricity system, which guarantees the country's energy security, net financial debt at 31 December 2024 stood at 11.160,4 million euros, compared to 10.494,3 million euros at the end of 2023. The increase in net financial debt is mitigated by the hybrid bond issue launched on 4 April 2024 for an amount of 850 million euros, accounted for as an equity instrument. During 2024, thanks to the expansion of the regulated asset base (RAB) and the update of the WACC (Weighted Average Cost of Capital) recognized for the year, revenues from Regulated Activities grew to 3.096,2 million euros (2.669,8 million in 2023, +16%). In 2024, revenues from Non-Regulated Activities significantly increased to 584 million, recording a +13% compared to 516,8 million euros in 2023.