ROME (ITALPRESS) – Terna’s Board of Directors, meeting under the chairmanship of Igor De Biasio, reviewed and approved the Group’s Business Plan Update 2024-2028 and results as of December 31, 2024, presented by CEO and General Manager Giuseppina Di Foggia. The 2024-2028 Business Plan calls for total investments of 17.7 billion euros.
Revenues for 2024, at 3,680.2 million euros, show an increase of 493.5 million euros (+15.5%) compared to 2023. EBITDA (Gross Operating Margin) for 2024 stands at 2,566.4 million euros, up 397.8 million euros compared to 2023 (+18.3%), due to the improved performance of Regulated Activities.
EBIT (Operating Income) for the year, after depreciation and amortization of 889.0 million euros, stood at 1,677.4 million euros, up from 1,362.3 million euros in 2023 (+23.1%).
Net financial expenses in 2024, at 171.5 million euros, show an increase of 53.8 million euros compared to 117.7 million euros in 2023.
Pre-tax income stands at 1,505.9 million euros, up 261.3 million euros from 2023 (+21.0%).
Group net income for the year was 1,061.9 million euros, up 176.5 million euros (+19.9%) from 885.4 million euros in 2023. The consolidated balance sheet shows Group shareholders’ equity of €7,524.2 million, compared to €6,324.4 million as of December 31, 2023.
Total investments made by the Terna Group in the year amounted to euros 2,692.1 million, up sharply (+17.6%) from euros 2,290.0 million in 2023.
‘The cornerstones of the update of the 2024-2028 Business Plan presented today are: significant increase in investments, which, with €17.7 billion over five years, mark a new record for Terna; territorial planning, to facilitate the integration of renewable sources into the grid, which we will make even more reliable and efficient; and strengthening the Group’s role in serving the country’s electricity security and energy independence,’ emphasized Giuseppina Di Foggia, Terna’s CEO and General Manager.
“We are focusing on sustainability and digitalization to build infrastructure that is fundamental for the country’s decarbonization, with reduced environmental impact, and to manage a more resilient grid ready to face the challenges of the energy sector. With the results achieved in 2024, the result of the work and expertise of our people, we continue to create value for our stakeholders and confirm ourselves as an increasingly solid Group on the national energy scene, aware of the responsibility entrusted to us: enabling the energy transition, guaranteeing the highest levels of transmission service quality, at the lowest possible cost for businesses and citizens.”
With a total of €17.7 billion in investments, Terna consolidates its role as an enabler of the energy transition and significantly accelerates its commitment to serving the country toward decarbonization and reducing Italy’s dependence on foreign sources of supply.
Targets set by the European Green Deal call for a reduction in greenhouse gas emissions of at least 55 percent from 1990 levels by 2030. The decarbonization targets to 2030 are also very ambitious at the national level, according to the National Integrated Energy and Climate Plan (NIPEC) updated in 2024: 63% of the electricity sector’s final consumption by 2030 will have to be met by renewable generation, with installed photovoltaic and wind power capacity in our country to reach 107 GW, compared to the 50 GW installed at the end of 2024.
The update of the 2024-2028 Business Plan confirms the strategic objectives that Terna, in order to fulfill its role as the national Transmission System Operator, will have to pursue. The Group will have to enable the integration of new renewable generation capacity through the expansion of grid infrastructure, to be planned and implemented together with the development of storage systems and the increase of the adequacy of the electricity system. It will also be necessary to foster greater energy independence of the national power system. In fact, the renewable capacity that will be installed in the coming years is also aimed at reducing Italy’s dependence on commodities imported from foreign countries. In fact, only the maximum integration of renewables and the most efficient management of energy flows will be able to guarantee Italy a more secure and independent energy future, with a decrease in price volatility for the end user.
Terna will also have to guarantee energy transmission service to the country, with absolute quality standards in an increasingly changing scenario, as well as ensure the highest level of security of the transmission grid, both in terms of protection of physical assets and cybersecurity, by introducing innovative digital and technological solutions to meet new challenges. Finally, a key objective will be related to increasing infrastructure resilience in the face of intensifying frequency of extreme weather events.
While keeping the underlying strategic lines unchanged, the update of the 2024- 2028 Business Plan reinforces the concept of a Dual Transition – Energy and Digital, which is necessary to ensure an equitable and inclusive Just Transition for all stakeholders.
According to the update approved today by the Board of Directors, Terna will invest a total of €17.7 billion over five years, an increase of €1.2 billion (+7 percent) over the same time frame as the previous Plan.
In the 2024-2028 Business Plan update, sustainability of investment is confirmed as an essential element in creating value for the company and the system as a whole.
More than 99% of Terna’s interventions, in fact, are considered sustainable according to the eligibility criteria introduced by the European Taxonomy. Terna Group’s development activities will continue to be focused along two strategic lines: Regulated Activities in Italy and Non-Regulated Activities.
Regulated Activities in Italy: new historic record of investment Regulated activities in Italy will continue to be the Group’s core business. Terna plans to invest 16.6 billion euros in total over the five-year period 2024-2028 to develop and modernize the national electricity transmission grid. This is Terna’s highest ever Regulated Investment Plan with a 7 percent increase over the previous Plan.
Terna has made a marked progress in the execution of major projects, which have shown significant progress in the past 12 months in terms of authorization and supply chain: about 90 percent of investment projects have been authorized by the relevant authorities (compared to 79 percent in March 2024) and about 80 percent of them are covered by supply contracts (compared to 70 percent in March 2024).
These numbers demonstrate Terna’s significant strides in ensuring the achievement of its goals on time. The Group has acted mainly by reducing the average timeframe of authorization processes, thanks to the rationalization of internal processes and constant collaboration with local communities, and by strengthening relations with key suppliers In the 2024-2028 Business Plan update, Terna plans to invest a total of 10.8 billion euros over five years in the development of the national transmission electricity grid.
On March 14, 2025, Terna unveiled its 2025-2034 Development Plan, which calls for more than 23 billion euros of investment over a 10-year time horizon (up 10 percent from the previous 10-year plan 2023-2032).
Terna’s planned interventions mainly involve the construction of high-voltage direct current lines, including numerous submarine cable connections. The Plan interventions will ensure the increase of power exchange capacity between different market zones (which will reach about 39 GW compared to 16 GW today) and the resolution of grid congestion, the integration into the grid of the growing energy produced from renewable sources and the improvement of service quality. The development of interconnections with other countries, with the planned increase in foreign transmission capacity of about 40 percent over current values, will also increase the reliability and security of our electricity system, strengthening Italy’s role as a Mediterranean energy hub.
The most important infrastructure projects in the 2024-2028 Business Plan include the Tyrrhenian Link, the submarine power line that will unite Sardinia, Sicily and Campania; the Bolano-Annunziata submarine link between Calabria and Sicily; and the 380 kV Colunga-Calenzano (between Emilia-Romagna and Tuscany) and Chiaramonte-Gulfi-Ciminna (in Sicily) power lines.
Interconnection projects with foreign countries include Elmed, the first DC submarine electricity link between Europe and Africa, which will connect Italy to Tunisia; the infrastructure between Sardinia, Corsica and the Italian Peninsula (Sa.Co.I.3); and the doubling of the interconnection between Italy and Greece.
– Terna press office photo –
(ITALPRESS).
