Q3 2024 Terna Rete Elettrica Nazionale SpA Earnings Call Transcript
Key Points
- Terna SpA (TERRF) reported a double-digit growth in all P&L lines and CapEx, with group revenues and EBITDA increasing by 18% and 22%, respectively.
- The company achieved a group net income of EUR813 million, up by 27% compared to the same period last year.
- Terna SpA (TERRF) signed a EUR400 million loan agreement with the European Investment Bank for the renewal of the Italian transmission network.
- The company increased its renewable energy capacity by 5.3 gigawatts, a 33% rise compared to the previous year.
- Terna SpA (TERRF) announced a 2024 interim dividend of EUR11.92 per share, up by 4% compared to the previous year.
- Total operating costs increased by 9.3% compared to the previous year, driven by higher costs for raw materials and services.
- Net financial expenses rose to EUR105 million due to new financing and increased interest rates.
- The acquisition of high-voltage grid assets in Rome involves a purchase price of EUR224 million, representing a 10% premium, which may impact short-term financials.
- The company's net debt stood at around EUR10 million, indicating a need for careful financial management.
- The current output-based incentive framework will conclude at the end of the year, potentially impacting future earnings.
Good afternoon, ladies and gentlemen, and welcome to Terna's 9 months 2024 consolidated results presentation. (Operator Instructions) Please be advised that today's conference is being recorded. I would like to hand the conference over to our host speaker today, Mr. Stefano Gamberini, Head of Investor Relations. Please go ahead, sir.
Good afternoon, and welcome to Terna's 9 months 2024 results presentation. My name is Stefano Gamberini, and I'm proud to be here today as Terna's new Head of Investor Relations. After 30 years as a financial analyst, I'm very excited about this new challenge. Together with the IR team, I hope to continue and improve the excellent relationship that has been built with the financial community supporting our company's growth. The call will be hosted by our CFO, Francesco Beccalli.
Following the presentation, we will have the Q&A session. So we kindly ask you to send any questions you might have to our e-mail address, investors.relations
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