Luigi Ferraris illustrates the results for the first half of the year: Terna on the rise

Luigi Ferraris presented Terna‘s results for the first half of the year at the BoD meeting chaired by Catia Bastioli. This national electricity grid manager closed with revenues of 1,097.8 million euro, posting an increase of 35 million euro (+3.3%) compared with the previous year, a Gross Operating Margin (Ebitda) of 846.2 million euro, up by 31.3 million euro (+3.8%) compared with 814 previously, and a net profit of 366.6 million euro, up by 6.4 million (+1.8%). Terna allocated 396.3 million euro in total investments, up 17.3% from 337.9 million euro in 2018. Specifically, during the first half of 2019, 193 km of old overhead power lines were removed and 26 km of new underground cable lines were built. The progress of the construction sites for the Italy-France and Italy-Montenegro electricity interconnections, the work on the electricity interconnection between Capri and Sorrento and the rationalisation of the electricity network in the metropolitan area of Rome are also noteworthy. Luigi Ferraris pointed out that the Terna Group now employs 4,328 employees or 76 more than at the end of 2018. “The results of the first half of the year confirm the solidity of the managerial actions pursued, with significantly higher profitability and investments in the decarbonisation process already started within Italy. The increase in profitability, maintenance of satisfactory levels of efficiency and increased investments allow us to be confident about achieving the growth and value-generation objectives set out in the Strategic Plan” said CEO and DG Luigi Ferraris.