Half Year 2025 Terna Rete Elettrica Nazionale SpA Earnings Call Transcript
Key Points
- Terna SpA (TERRF) presented a new 10-year national development plan with investments over EUR23 billion by 2034, focusing on grid development and renewable energy integration.
- The company reported an 8% increase in revenues and EBITDA for the first half of 2025, demonstrating strong financial performance.
- CapEx reached a record EUR1,390 million, marking a 27% increase compared to the first half of the previous year, indicating a strong commitment to infrastructure development.
- Terna SpA (TERRF) successfully launched its first European green bond under a new EUR4 billion MTN program, reflecting strong market confidence.
- The company has secured nearly all procurement needs through the end of 2025, mitigating potential supply chain risks.
- Net debt increased to EUR12 billion by the end of June 2025, primarily due to CapEx acceleration and dividend payments.
- The WACC reduction from 5.8% to 5.5% in 2025 could impact future profitability.
- There is a slight slowdown in renewable installations compared to the first half of the previous year.
- Operating costs increased by 7.5% year-on-year, driven by higher labor costs and service costs in non-regulated activities.
- The company faces potential challenges from supply chain shortages and tones affecting the industry.
Good afternoon, ladies and gentlemen. I welcome you to Terna's consolidated results first half 2025 conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I'd like to hand the conference over to your host speaker today, Mr. Stefano Gamberini, Head of Investor Relations, to begin. Please go ahead, sir.
Thanks a lot. Good afternoon, everyone, and welcome to Terna's first half results presentation. The call will be hosted by our CEO and General Manager, Giuseppina Di Foggia; and our CFO, Francesco Beccali. 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 [email protected]. Please, Giuse.
Thank you, Stefano, and good afternoon, everyone. Before looking at the figures, I'd
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
