Along with the financial parameters, dividends will rise too. The policy established by the company anticipates that from 2020 to 2022 the coupon will increase by 8% compared to the 2019 forecast. However, for the next two years payout is expected to be 75%, with a minimum guaranteed dividend equal to the dividend pertaining to 2022.
A solid foundation for Terna's growth estimates can be seen in the figures contained in the 2019 financial statements, which led to CEO Luigi Ferraris’ statement of satisfaction: “I am very pleased with the 2019 results, all indicating major growth, at the close of a three-year period marked by an epic transformation of the Italian energy sector, in Europe and globally, towards the complete decarbonisation and full use of renewable sources,” said the CEO.
Last year closed with a strong increase in net profit, which grew 7.2% to € 757 million, and revenues at € 2.295 billion, up 4.5% compared to 2018. The company considers such a result to be mainly due to the increase in revenues from regulated activities in Italy and the growing contribution of the Tamini Group and initiatives abroad (Brazil and Uruguay).
Good news on the profitability front as well, with EBITDA at € 1.74 billion, up 5.5% compared to the previous year, and EBIT at 1.062 billion from 997.7 million in 2018. Net financial debt increased somewhat, from € 7.899 billion in 2018 to € 8.258 billion in 2019, also due to the strong influx given to investments, which grew 15.9% to € 1.264 billion over 12 months alone. However, it is also worth noting the growth in equity, which rose from 3.850 billion to 3.981 billion.
In 2019 the Board of Directors proposed a dividend of € 0.2495 per share (of which € 0.0842 paid as interim dividend and € 0.1653 as final dividend in June 2020), up from € 0.2332 in 2018.