Slide 1: 1Q 2022 Consolidated Results
1Q 2022 Consolidated Results Rome, May 11th 2022
Slide 2: Agenda
Agenda Highlights 3 1Q 2022 Results 7 Annexes 17 2
Slide 3: Highlights
Highlights 3
Slide 4: Focus on execution
Highlights Latest main achievements 2021-2025 Industrial Plan Update Green hybrid bond Rating affirmation Latam valorization process Focus on execution 4
Slide 5: Full recovery of electricity consumption
Highlights Demand Evolution – Last 12 months DEMAND AS REPORTED (TWh) 1Q22 1Q21 Δ% 80.3 78.3 2.6% TWh 1Q 2022 32 Monthly energy demand 30.4 Previous Year 30 27.2 27.4 27.5 27.3 28 26.6 27.0 26.4 26.4 25.5 26 24.4 24 23.9 22 20 18 Apr Apr May May Jun Jul Aug Sep Sep Oct Oct Nov Nov Dec Dec Jan Jan Fe
Slide 6: Reconfirmed capex acceleration
Highlights 1Q 2022 Key Numbers 1Q 2021 1Q 2022 ∆ vs 1Q 2021 restated Actual Restated Actual €mn €mn €mn Revenues 622 616 644 +5% EBITDA 454 448 461 +3% Group Net Income1 190 190 192 +1% Capex 242 242 293 +21% 1Q 2022 FY 2021 Net Debt 8,683 10,003 Reconfirmed capex acceleration 1. Attributable to Ter
Slide 7: 1Q 2022 Results
1Q 2022 Results ga Jerna
Slide 8: Revenues increase driven by Regulated Activities
1Q 2022 Results Revenues €mn +29 +4.7% 616 644 25 4 -0.2 0.0 0.2 82 79 537 562 Regulated Activities1 Non Regulated Act. 1Q21 ∆ ∆ ∆ 1Q22 International Act. Regulated Non Regulated International 1 Activities Activities Activities Revenues increase driven by Regulated Activities Note: figures may not a
Slide 9: Regulated investments as growth driver
1Q 2022 Results Revenues Analysis REGULATED NON REGULATED AND INTERNATIONAL €mn €mn +25 +4.7% 537 562 +3 18 5 7 3 10 +4.3% 4 9 79 4 -0.2 82 0.2 0.0 526 543 Transmission & Dispatching Other 79 82 Non Regulated Act. IFRIC12 International Act. 1Q21 ∆ ∆ ∆ 1Q22 1Q21 ∆ ∆ 1Q22 Transmission & Dispatching Ot
Slide 10: Operating costs evolution driven by business acceleration
1Q 2022 Results Opex €mn +16 +9.4% 183 167 6 -0.3 1 10 1 68 62 104 114 Regulated Activities1 Non Regulated Act. International Act. 1Q21 ∆ ∆ ∆ 1Q22 Regulated Non Regulated International Activities¹ Activities Activities Operating costs evolution driven by business acceleration Note: figures may not a
Slide 11: 3% EBITDA growth
1Q 2022 Results EBITDA GROUP REGULATED €mn €mn 15 +13 +2.9% 433 448 1Q21 ∆ 1Q22 NON REGULATED AND INTERNATIONAL €mn 448 461 -2 15 13 1Q21 1Q22 1Q21 ∆ 1Q22 3% EBITDA growth Note: figures may not add up due to rounding 11
Slide 12: In line with updated targets
1Q 2022 Results From EBITDA to Net Income €mn 168 +1% YoY 461 24 76 294 1 0 192 190 EBITDA D&A EBIT Net Taxes (Profit)/Loss Minority Group Group Financial from Interest Net Income1 Net Income 1 Expenses discontinued 1Q21 operation In line with updated targets Note: figures may not add up due to roun
Slide 13: Over 21% capex acceleration
1Q 2022 Results Capex TOTAL CAPEX REGULATED CAPEX €mn €mn 293 242 13 15 38% Development 47% 281 Defence Asset Renewal & Efficiency 281 227 15% 1Q21 1Q22 1 Regulated Non Regulated and Other Over 21% capex acceleration Note: figures may not add up due to rounding 1. Of which about 4 €mn of Capitalized
Slide 14: Operating cash flow covering investment needs
1Q 2022 Results Cash Flow & Net Debt Evolution €mn -1,319 10,003 371 151 293 1,091 8,683 Dec.31, Operating Δ WC & Other1 Capex Dividends,Equity Mar.31, 2021 Cash Flow & 2 2021 Others Operating cash flow covering investment needs 1. Including Other Fixed Assets Changes Note: figures may not add up du
Slide 15: Solid and diversified financial structure
1Q 2022 Results Net Debt Evolution & Financial Structure 1 GROSS DEBT BREAKDOWN KEY RATIOS1 Fixed/Floating Ratio Terna TernaSpA SpABonds Bonds 16% EIB EIB ~ 86% Fixed Banks Banks Calculated on Gross Debt 19% 10.6€bn2 65% Maturity ~ 5 years Solid and diversified financial structure 1. Percentages and
Slide 16: Q&A Session
Q&A Session 16
Slide 17: Annexes
Annexes 17
Slide 18: Consolidated Income Statement
Annexes Consolidated Income Statement1 € mn 1Q22 1Q21 Δmn Δ% Total Revenue 644 616 29 4.7% Regulated Activities 562 537 25 4.7% Transmission 485 498 -13 -2.7% Dispatching 58 27 31 112.4% Other² 9 4 5 104.7% IFRIC12 10 6 3 50.8% Non Regulated Activities 82 79 4 4.6% International Activities 0 0 0 -10
Slide 19: Consolidated Income Statement (restated)
Annexes Consolidated Income Statement1 € mn 1Q 21 Reported Restatement 1Q 21 Restated Δ% Total Revenue 622 -6 616 -1.0% Regulated Activities 537 0 537 0.0% Transmission 498 0 498 0.0% Dispatching 27 0 27 0.0% Other² 4 0 4 0.0% IFRIC12 6 0 6 0.0% Non Regulated Activities 79 0 79 0.0% International Ac
Slide 20: Consolidated Balance Sheet
Annexes Consolidated Balance Sheet € mn Mar. 31,2022 Dec. 31,2021 Δmn PP&E 15,422 15,317 105 Intangible Asset 670 657 13 Financial Inv. and Other 433 380 53 Total Fixed Assets 16,524 16,353 171 Net WC -1,902 -1,707 -196 Funds -60 -48 -12 Net Capital Invested 14,561 14,598 -36 Net Assets Held for Sal
Slide 21: Consolidated Cash Flow
Annexes Consolidated Cash Flow € mn 1Q22 1Q21 Total Net Income 192 191 D&A¹ 167 157 Net Change in Funds 12 -15 Operating Cash Flow 371 333 Δ Working Capital & Other² 151 -265 Cash Flow from Operating Activities 522 68 Capital Expenditures -293 -242 Free Cash Flow to Equity 228 -174 Net Assets Held f
Slide 22: 2022 Total Grid Fee
Annexes 2022 Total Grid Fee* 2021 2022 Transmission Transmission 1.95€bn 1.91€bn Resolution 565/2020 Resolution 622/2021 36% + + 46% Dispatching Dispatching 0.11€bn 0.11€bn 18% Resolution 599/2020 Resolution 629/2021 = = RAB remuneration 2.06€bn 2.02€bn Allowed Opex Allowed D&A *ARERA Resolutions an
Slide 23: 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 24: Notes
Notes 24 Terna Driving Energy Za ws
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Slide 26: Terna Driving Energy
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