During a 1st quarter characterized by a constantly evolving context and a request for electricity in Italy in slight reduction (-0.7%), Triad has recorded economic results growingimprinting a further acceleration to investments and consolidating its commitment to the country, for the benefit of the safety of the national electrical system, decarbonisation and greater energy independence of Italy from abroad.
The numbers of the 1st quarter
The company that manages the national electricity transmission network has closed the 1st quarter of the year with revenues equal to 901.8 million of euros, in 5.1% increase Compared to the corresponding period of 2024. This result is largely due to the growth of the revenues of the Regulated activitiesresulting from the tariff update, but there is also a “significant” increase in the revenues of the Not regulated activities, which reflects the greater contribution deriving from the Equipment activities of the Brugg Cables group and the Tamini Group.
Ebitda (Gross operating margin) stands at 652.0 million euros, in growth of 3.8% Compared to the 627.9 million euros of the first three months of 2024, while EBIT (Operating result), downstream of depreciation and devaluations of 219.2 million euros, stands at 432.8 million euros, resulting in increase of 3.4% Compared to the 418.7 million euros of the first three months of 2024.
The imposed ante result stands at 394.0 million euros, compared to the 382.2 million euros of the first quarter 2024 (+3.1%), while Net profit of group it is equal to 275.3 million euros, growing by 2.6% compared to the 268.2 million euros of the first quarter 2024.
Net financial debt It stands at 11,126.6 million euros, decreasing of 33.8 million euros compared to 11,160.4 million euros at the end of 2024.
Investments in acceleration
During the first quarter, Terna made investments for 562.1 million of euros, in Increase of 16.4% Compared to the same period of 2024, which had already marked a significant growth on the previous year. Among the main projects of the quarter, the advancements of the Tyrrhenian Linkthe submarine electrical connection between Campania, Sicily and Sardinia In the east branch, the one between Campania and Sicily, in May the laying of the first submarine cable, which began in February 2025, was completed.
To this are added the progress of the connection between Tuscany, Corsica and Sardinia (Sa.co.i.3), and the 0 of theAdriatic linkthe submarine electrode between Abruzzo and Marche, and those of the works to increase the safety and efficiency of the high and very high voltage electricity grid in the areas affected by Olympic and Paralympic games “Milan-Cortina 2026”.
During the first quarter of 2025 they were also authorized, by the Ministry of the Environment and Energy Safety and by the competent regional councilors, 12 interventions for the development of the national transmission electricity networkfor a total amount of about 240 million euros.
“The recent events to the electricity network of the Iberian Peninsula demonstrate how essential it is to continue and intensify investments in infrastructure for the energy transition and, in particular, for a safe electrical system, resilient and interconnected,” he said Giuseppina di FoggiaCEO and General Manager of Terna, remembering that the plan provides for investments for the year equal to about 3.4 billion euros.
The Outlook on 2025
For 2025 it is expected that the Terna Group can achieve revenues of 4.03 billion euro, a Ebitda equal to 2.70 billion euros and a Group net profit of 1.08 billion euro. With specific reference to the investment plan, the group has a 2025 target of approximately 3.4 billion euros. Despite the acceleration of investments, Terna confirms the commitment to maintaining a solid and sustainable structure of the capital.
