Terna’s CEO Flavio Cattaneo presented the results of the first nine months and of the third quarter of 2010

Terna’s CEO Flavio Cattaneo presented the results of the first nine months and of the third quarter of  2010, which were examined and approved by  TERNA SpA’s (“Terna”), Board of Directors at a meeting held today and chaired by Luigi Roth.

SUMMARY OF THE FIRST NINE MONTHS OF 2010

Double digit growth of the economic indicators with Revenues at 1,166.2 million euros, rising by over 15% compared to the first nine months of  2009, the Gross Operating Margin  at 888.8 million euros with an increase of over 16% and the Net Income at  372 million euros, increasing by over  32% (net of discontinued Brazilian activities).

Investments for grid development increased by nearly 35%, reaching 766.9 million euros.  Over 300 building yards open as of today with over 5,000 workers engaged. Work is in progress for the SAPEI submarine connection with the placement of the second cable, for the ‘Casellina-Tavarnuzze-Santa Barbara’ power line in Tuscany and for upgrading the  Val d’Ossola grid; building yards are starting to operate for the “Sorgente-Rizziconi’ connection between Sicily and  Calabria1 and for the  Chignolo Po- Maleo power line.

Ceo Flavio Cattaneo commented, “The excellent results obtained in the third quarter and during the first nine months allow us to be confident that 2010 will close with positive results.  We had stated that this year would have been the year of great works:  in 2010 we will exceed one billion euros invested to strengthen and modernize the Italian electricity grid in addition to over 400 million from the photovoltaic solar project Rete Rinnovabile. Terna’s team confirms that is keeping up with its promises”

Here you can download the presentation:
9M 2010 Consolidated Results (November 12, 2010)

(Source: Terna WebMagazine)

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Phinet
Roma Italia
Alessandra Camera
a.camera@phinet.it

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