Terna’s CEO Flavio Cattaneo presented the results of the first nine monthsand of the third quarter of 2010

Terna’s CEO Flavio Cattaneo presented the results of the first nine months and of the third quarterof 2010, which were examined and approved by TERNA SpA’s (“Terna”), Board of Directors at ameeting held today and chaired by Luigi Roth.

SUMMARY OF THE FIRST NINE MONTHS OF 2010

Double digit growth of the economic indicators with Revenues at 1,166.2 million euros,rising by over 15% compared to the first nine months of 2009, the Gross OperatingMargin at 888.8 million euros with an increase of over 16% and the Net Income at 372million euros, increasing by over 32% (net of discontinued Brazilian activities).

Investments for grid development increased by nearly 35%, reaching 766.9 million euros.Over 300 building yards open as of today with over 5,000 workers engaged. Work is inprogress for the SAPEI submarine connection with the placement of the second cable, forthe ‘Casellina-Tavarnuzze-Santa Barbara’ power line in Tuscany and for upgrading the Vald’Ossola grid; building yards are starting to operate for the “Sorgente-Rizziconi’ connectionbetween Sicily and Calabria1 and for the Chignolo Po- Maleo power line.

Ceo Flavio Cattaneo commented, “The excellent results obtained in the third quarter andduring the first nine months allow us to be confident that 2010 will close with positive results. Wehad stated that this year would have been the year of great works: in 2010 we will exceed onebillion euros invested to strengthen and modernize the Italian electricity grid in addition to over400 million from the photovoltaic solar project Rete Rinnovabile. Terna’s team confirms that iskeeping up with its promises”

Here you can download the presentation:

9M 2010 Consolidated Results (November 12, 2010)

(Source: Terna WebMagazine)

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