(Finance) – Terna closed the first half with a pre-tax result of 571.2 million euros, up 3.8% compared to the same period of 2021, while net profit of the Group stands at 398.1 million euros, up 3.5% compared to 384.6 million in the first half of 2021. In the second quarter, net profit increased by 6.2% to 206.3 million euros (194.2 million in the same period of 2021).
“The tragic events in Ukraine and the international energy crisis make it inevitable for our country, in line with the objectives set by the European Union, to continue working in order to reduce dependence on fossil fuels as much as possible“said the CEO Stefano Donnarummaadding “this goal can be achieved mainly accelerating the development of renewable sources. From this perspective, the grid is a crucial enabling factor and for this reason Terna is giving a continuous boost to investments “
The overall investments realized by the Terna Group in the half year are equal to 660.5 million euros, up 10.2% compared to 599.6 million in the corresponding period of 2021.
THE revenues in the first half of 2022, equal to 1,330.8 million euros, an increase of 74.5 million euros (+ 5.9%) compared to the corresponding period of 2021. EBITDA amounted to 946.9 million euros, up 4.1% compared to 909.9 million euros in the first half of 2021, while EBIT is equal to 607.4 million euros, compared to 584.4 million euros in the first six months of 2021 (+ 3.9%).
The consolidated balance sheet as at 30 June 2022 records Group shareholders’ equity of € 5,848.3 million, compared with € 4,681.9 million as of December 31, 2021. Net financial debt stands at 8,994.0 million euros, compared to over 10 billion at 31 December 2021.
In the second half of the year, despite the increasingly critical geopolitical situation following the protracted conflict between Russia and Ukraine and the continuing tensions on the commodities markets, the Group will continue to be focused on implementing the provisions of the 2021 Business Plan- 2025, which confirms and strengthens Terna’s role as director of the Italian energy system and enabler of the ecological transition with an overall investment plan of 10 billion in the five-year period 2021-2025 of which approximately 1.7 billion euro in 2022. Business management of Terna will continue to be based on sustainability values and compliance with ESGs, ensuring the minimization of environmental impacts, the involvement of local stakeholders and compliance with the principles of integrity, responsibility and transparency. All the aforementioned objectives will be pursued while maintaining the commitment to maximize the cash generation necessary to ensure a healthy and balanced financial structure.