Slide 1: 1Q 2024 Consolidated Results
1Q 2024 Consolidated Results Rome, May 8th 2024
Slide 2: Agenda
Agenda Highlights 3 1Q 2024 Results 7 Annexes 16 2
Slide 3: Highlights
Highlights aa lerna (Aes Driving Energy
Slide 4: Highlights: Focus on execution
Highlights Latest main achievements ▪ Group’s 2024-2028 Industrial Plan presentation ▪ Adriatic Link: project authorized by the Ministry of Environment and Energy Security ▪ €850 million hybrid green perpetual bond issue successfully launched ▪ €850 million 7-year bond issue successfully launched ▪
Slide 5: Guaranteeing a safe management of the electricity system
Highlights Demand Evolution – Last 12 months DEMAND AS REPORTED (TWh) 1Q24 1Q23 Δ% TWh 77.7 77.1 0.7% Monthly energy demand 32 Previous Year 30 28 30.0 26 26.7 25.4 25.8 25.7 24 25.3 25.4 24.9 25.3 24.2 24.8 22 23.2 20 Apr Apr May Mag Jun Jun Jul Jul Aug Ago Sep Sep Oct Oct Nov Nov Dec Dec Jan Jan F
Slide 6: 1Q 2024 Key Numbers
Highlights 1Q 2024 Key Numbers 1Q 2024 1Q 2023 ∆ vs 1Q 2023 Actual Actual €mn €mn Revenues 858 713 +20% EBITDA 628 500 +26% Group Net Income1 268 200 +34% Capex 483 315 +53% Net Debt2 10,587 10,494 Strong growth in all P&L lines and Capex 1. Attributable to Terna; 2. 2023 Value related to FY 6
Slide 7: 1Q 2024 Results
1Q 2024 Results aa lerna (Aes Driving Energy
Slide 8: Double digit increase in Revenues
1Q 2024 Results Revenues €mn +146 +20.4% 858 116 29 713 128 99 730 614 Regulated Activities1 Non Regulated and International Activities 1Q23 ∆ ∆ 1Q24 Regulated Non Regulated Activities 1 and International Activities Double digit increase in Revenues Note: figures may not add up due to rounding; 1. I
Slide 9: Revenues Analysis
1Q 2024 Results Revenues Analysis REGULATED NON-REGULATED AND INTERNATIONAL €mn €mn +116 +18.9% 730 +29 614 +29.8% 120 -4 0 10 10 11 29 128 15 99 708 588 Transmission & Dispatching 128 Other 99 IFRIC12 1Q23 ∆ ∆ ∆ 1Q24 1Q23 ∆ 1Q24 Transmission & Other IFRIC12 Non Regulated Dispatching and Internation
Slide 10: Operating costs evolution reflecting Non Regulated activities increase
1Q 2024 Results Opex €mn +18 +8.3% 230 213 26 0 1 -8 1 83 109 128 120 Regulated Activities1 1Q23 ∆ ∆ ∆ 1Q24 Regulated Non Regulated International Non Regulated Act. Activities¹ Activities Activities International Act. Operating costs evolution reflecting Non Regulated activities increase Note: figur
Slide 11: Regulated Activities as EBITDA growth driver
1Q 2024 Results EBITDA GROUP REGULATED €mn €mn 124 +128 +25.6% 610 486 1Q23 ∆ 1Q24 NON-REGULATED AND INTERNATIONAL €mn 628 500 4 14 18 1Q23 1Q24 1Q23 ∆ 1Q24 Regulated Activities as EBITDA growth driver Note: figures may not add up due to rounding 11
Slide 12: +34% increase in Group Net Income
1Q 2024 Results From EBITDA to Net Income €mn +34% YoY 209 37 112 628 419 3 -1 268 200 EBITDA D&A EBIT Net Taxes (Profit)/Loss Minority Group 1 Group Financial from Interest Net Income Net Income 1 Expenses discontinued 1Q23 operation +34% increase in Group Net Income Note: figures may not add up du
Slide 13: Record-breaking Capex
1Q 2024 Results Capex TOTAL CAPEX REGULATED CAPEX €mn €mn 483 21 315 26% 27 Development 462 288 462 Defence 10% 64% Asset Renewal & Efficiency 1Q23 1Q24 1 Regulated Non Regulated and Other Record-breaking Capex Note: figures may not add up due to rounding; 1. Of which about 14 €mn of Capitalized Fin
Slide 14: Cash Flow & Net Debt Evolution
1Q 2024 Results Cash Flow & Net Debt Evolution €mn +93 10,494 10,587 483 9 461 62 1 Dec.31, Operating Δ WC & Other Capex Dividends,Equity Mar.31, 2023 Cash Flow & 2 2024 Others Operating cash flow supports investment activity Note: figures may not add up due to rounding; 1. Including Other Fixed Ass
Slide 15: Net Debt Evolution & Financial Structure
1Q 2024 Results Net Debt Evolution & Financial Structure GROSS DEBT BREAKDOWN1 KEY RATIOS3 Fixed/Floating Ratio Terna SpA Bonds 13% EIB ~ 89% Fixed Banks Calculated on Gross Debt 29% ~13€bn 2 58% Maturity ~ 6 years Ensuring financial structure solidity 1. Percentages calculated on Gross Debt nominal
Slide 16: Annexes
Annexes aa lerna (Aes Driving Energy
Slide 17: Consolidated Income Statement
Annexes Consolidated Income Statement1 Notes: figures may not add up due to rounding; 1) Managerial Accounting 2) Including Quality of Service 17
Slide 18: Consolidated Balance Sheet
Annexes Consolidated Balance Sheet 18
Slide 19: Consolidated Cash Flow
Annexes Consolidated Cash Flow Notes: figures may not add up due to rounding; 1) Net of assets’ disposal 2) Including Other Fixed Assets Changes 3) Including Cash Flow Hedge accruals and other 19
Slide 20: Disclaimer
Disclaimer THIS DOCUMENT HAS BEEN PREPARED BY TERNA S.P.A. (THE “COMPANY”) FOR THE SOLE PURPOSE DESCRIBED HEREIN. IN NO CASE MAY IT BE INTERPRETED AS AN OFFER OR INVITATION TO SELL OR PURCHASE ANY SECURITY ISSUED BY THE COMPANY OR ITS SUBSIDIARIES. THE CONTENT OF THIS DOCUMENT HAS A MERELY INFORMATI
Slide 21: Notes
Notes 21
Slide 22: Notes
Notes 22
Slide 23: ESG indices and ratings
2024 | INDUSTRY TOP RATED RATED BY ISS ESG> Member of Corporate ESG Performance Member 2023/2024 Dow Jones STOXX | eG Leaders . ene, . AFSL 4 Sustainability Indices Indices Powered by the S&P Global CSA. Euronext® ESG Eurozone Biodiversity Leaders PAB Index 1 EURONEXT ECPI SS biiey Tindices y ia all
Slide 24: yee
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