2025 Digital Report - Terna
Introducing Terna
Overview of 2025
Letter to stakeholders
«In recent years, the energy system has undergone a profound transformation. Growing electricity demand, the evolution of the energy mix and geopolitical tensions have brought security of supply and market stability back to the centre of debate. In this context, electricity infrastructure is becoming increasingly central to integrating renewable sources, strengthening countries’ energy independence and supporting the competitiveness of economic systems».
Terna’s role
Terna owns and operates Italy’s high- and very-high-voltage National Transmission Grid (NTG), one of the most modern and technologically advanced in Europe. The Group acts as an enabler of the electricity system in the context of the twin energy and digital transition towards environmentally sustainable sources, ensuring a secure and efficient supply for households and businesses.
Business Model
The Terna Group’s current business model is structured around two areas of business. The main one consists of Regulated Activities, in accordance with the obligations arising from the government concession. Terna has also developed and carries out a series of Non-Regulated Activities, always geared towards supporting the energy transition in line with its core business.
The value creation strategy
Terna’s process for creating value over time is shaped by a form of governance that targets sustainable success through the definition of a solid medium- to long-term strategy, based on the 2025 Development Plan and the 2024-2028 Industrial Plan Update, with the aim of delivering an energy and digital transition that takes into account the impact on society.
The 2030 goals and Terna’s contribution
A sustainable and digital grid to address the challenges of the transition.
The strategy
The 2025 Development Plan, the 2024-2028 Industrial Plan update and the 2024-2028 Sustainability Plan update.
The value creation process
The 2025 Report on Operations illustrates the Terna Group’s ability to create value over time through a Sustainable business model.
Sustainable finance
Terna is delivering on its commitment, made at the time of the bond issues, to report annually on its use of the proceeds and the environmental benefits resulting from the projects financed with those proceeds.
Financial data
Terna has identified the following indicators as the most representative of its economic and financial performance: Revenues, EBITDA, Operating results, Group Net Profit, Net Debt and Investments.
KPI/Historical data
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Presentation of the annual report 2025
The Terna Group’s 2025 Annual Report contains the Report on Operations, which by virtue of regulatory obligations in the area of reporting information of an ESG nature includes the Consolidated Sustainability Statement in a separate section, as well as the Consolidated Financial Statements, the Parent Company’s separate financial statements.
