Terna SpA (TRN.MI), Italy's biggest power grid by capacity, said Friday 2009 net profit soared on the year, lifted by stronger revenue, allowing it maintain its commitment to shareholders of a higher dividend.
Terna SpA (TRN.MI), Italy's biggest power grid by capacity, said Friday
2009 net profit soared on the year, lifted by stronger revenue, allowing it
maintain its commitment to shareholders of a higher dividend.
In a statement, Terna said net profit was EUR771 million compared with EUR327.5
million in 2008, while consolidated revenue rose 13% to EUR1.36 billion. Earnings
before interest, taxes, depreciation and amortization -- a key figure for
utilities -- climbed 18% to EUR1 billion.
The Rome-based company said the board of directors proposed paying a dividend
per share of EUR0.19, up from EUR0.158 the previous year. The EUR0.19 a share
proposal includes a EUR0.07 interim dividend paid in November.
Last month, Terna said it plans to raise investments during the next five years
to boost revenue faster than costs, allowing for higher future dividends.
The company expects its average cost of debt to be less than 3.5% this year and
in 2011, said Chief Financial Officer Fabio Todeschini in a conference call to
comment on the results. The average maturity of its debt is 10 years.
The CFO also said Terna will sell bonds this year. In February, the company
said the board approved selling bonds worth up to EUR1.5 billion by
March 31, 2011
.
At 1222 GMT, Terna shares rose EUR0.03, or 0.9%, to EUR3.22, in line
Italy
's
benchmark FTSE Mib Index.
Διαβάστε ακόμα
Παρ, 11 Οκτωβρίου 2024 - 20:08
Παρ, 11 Οκτωβρίου 2024 - 20:03
Πεμ, 10 Οκτωβρίου 2024 - 19:39
Πεμ, 10 Οκτωβρίου 2024 - 19:36
Τρι, 24 Σεπτεμβρίου 2024 - 19:58