Terna S.p.A. (TERRF) Q4 2024 Earnings Call Transcript

2025-03-25 17:12:20 ET

Terna S.p.A. (TERRF)

Q4 2024 Earnings Conference Call

March 25, 2025 01:00 PM ET

Company Participants

Stefano Gamberini - Head, Investor Relations

Giuseppina Di Foggia - Chief Executive Officer and General Manager

Francesco Beccali - Chief Financial Officer

Conference Call Participants

Javier Suarez - Mediobanca

Roberto Ranieri - Stifel

Gonzalo Sanchez-Bordona - UBS

Roberto Ranieri - Stifel

Presentation

Stefano Gamberini

Good evening, everyone, and welcome to Terna's 2024-2028 Industrial Plan Update presentation. First of all, I would like to thank the people who are here with us today in Milan, as well as those who have joined us remotely. I'm here with Terna CEO and General Manager, Giuseppina Di Foggia; and our CFO, Francesco Beccali.

Today's agenda includes, an overview of the key achievements reached in 2024, the update of the energy scenario, a brief description of the new 10 year National Development Plan 2025-2034, the presentation of our strategy and our 2024 results, and finally, the upgrade of our 2024-2028 financial targets. At the end of the presentation, there will be a Q&A session.

So let me immediately hand over to our CEO. Please, Giuse.

Giuseppina Di Foggia

Thank you, Stefano, and welcome, everyone. A year ago I presented to you a plan that went further in investment and ambition than anything Terna has done before. We made a serious commitment to the future of energy. Over EUR16.5 billion of investment, an increase of 65% on the previous plan. I'm delighted to be able to tell you today as we present an update of that plan that, across all parameters, we have not only maintained that commitment, but delivered beyond our expectations. This result is due to the diligence, expertise, and professionalism of all those internal, and thanks to our ever stronger relationships with all our major stakeholders, the government, the regulator ARERA, and our partners.

You can trust Terna to keep its promises and even to exceed in the toughest of markets with the toughest of challenges. And as you will see today, we expect to go beyond the original ambition of the 2024-2028 plan to seek even greater value for the energy transition for Italy and for the Italian consumers. We define the plan as our wider vision, and we know we can deliver more, empowering tomorrow.

How do I believe this can be achieved? Through people and our people's strategy, through execution on all our major projects with a solid financial structure and the ability to create value, and with wise and timely investment in digitalization and innovation....

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