Sustainability report Integrated report
Download report 2016

ENABLING ENERGY TRANSITION
2016 in figures

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Letter from the Chairwoman and the Chief Executive Officer

The solid results achieved in 2016 confirm that Terna is well on track to meet 2017–2021 Strategic Plan targets.

CATIA BASTIOLI

Chairwoman of Terna

MATTEO DEL FANTE

Chief Executive Officer of Terna

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highlights

Stock performance and shareholder return
Operating performance
Economic and financial performance
Sustainability performance

Performance of stock and shareholder return

4.35 €/share

Closing price at 30 December 2016

5.08 €/share

Maximum share price, reached on 30 March 2016

+429%

TSR from listing at 30 December 2016

+491%

TSR from listing at 30 March 2016


Operating performance

-18%

PUN (single national price) 43 €/MWh: -18% for the cost of electricity in 2016, beating the record of the previous year

51.7 €/MWh

Network costs lower than the European average 53.27 €/MWh

72,800 km

inspected lines


Operating performance

Commissioning of the "VILLANOVA-GISSI" power line:

Reduction of electricity deficit in Abruzzo

+ 700 MW

renewable energy transferred

- 165 thousand

tonnes of CO2 emissions into the atmosphere each year


Operating performance

Commissioning of the "SORGENTE-RIZZICONI" power line

the longest 380 kV AC undersea electricity connection in the world

~€600 mln

expected savings for the electricity system each year

114 km

old lines dismantled

- 700 thousand

tonnes of CO2 emissions into the atmosphere each year


Economic and financial performance

Revenue

2,103.2 (+1%)

EBITDA

1,544.7 (+0.4%)

Group net income

633.1 (+6.3%)


Comparative data compared to 2015
Values ​​in millions of euros

Economic and financial performance

CAPEX

854.3 (-22.6%)

Net financial debt

7,958.9 (-0.5%)


Sustainability performance – Environment

Lines decommissioned (km)

290 (+195.9%)

more than 900 since 2010

Direct CO2 emissions

61,991.7 (-7.2%)

in equivalent tonnes

Incidence of SF6 leaks over total installed gas

0.39% (-11.4%)

the lowest figure in the last 10 years


Sustainability performance – Social

training hours per capita

61 (+8.9%)

compared with an average of approximately 30 hours per capita in the FTSE-MIB (2015 figure)

"Next Energy" Project

Business ideas of 10 teams of researchers developed and 15 paid internships offered to young engineering graduate

Women holding managerial positions

17.3%

senior and junior executives as a percentage of total managers compared to a proportion of women out of the total - net of blue-collar workers - 16.6%


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Value-creation model

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2017-2021 Strategic Plan

The 2017-2021 Strategic Plan sets out the acceleration of investments in the NTG (National Transmission Grid) to facilitate the energy transition in progress: the continual growth of non-programmable renewable-source production and the simultaneous gradual decommissioning of conventional generation plants make appropriate grid development a necessity. The 2017–2021 Strategic Plan includes consolidation in Non-Regulated Activities of an industrial approach, positioning Terna increasingly as an Energy Solution Provider, and an international strategy that goes to support growth and value creation over the long term. Maintaining a solid capital structure thanks to robust cash generation will contribute, finally, to sustain an attractive dividend policy.

2017 ten-year Development Plan

In line with the evolution of the energy context, the 2017 Development Plan foresees investments totalling approximately €7.8 billion, thanks to which efficiencies will be achieved for the electricity system, as well as benefits, such as follows.

~5,000 MW

higher interconnection capacity

~3,000 MW

reduction of congestion

~7.7 MLN tons/year

reduction of CO2 emissions as a result of the production mix and lower grid losses

~4,500 MW

higher power capacity by renewable sources

~830 MLN kWh

reduction of energy losses per year


Our year

HISTORICAL DATA

Years

years

Series data