Terna - Rete Elettrica Nazionale Societa per Azioni Q3 2025 Earnings Recap

Terna reported solid progress in its infrastructure development and regulatory framework, with strategic projects advancing and an interim dividend of €11.92 per share maintained for the 2025 fiscal year.

Key Takeaways

• Completed first submarine cable installation for the Tyrrhenian Link, enhancing Italy's transmission capacity.
• Launched authorization processes for the Central and Sardinian Link projects, signaling commitment to renewable integration and grid robustness.
• Secured 88% of the capital expenditure plan through effective procurement, maintaining project timelines and mitigating supply chain risks.
• Board approved a flat interim dividend of €11.92 per share, aligning with the company's new dividend policy for the 2024-2028 business plan.
• National electricity demand showed a slight contraction of 1.2%, while renewable sources continued to generate around 50% of production, emphasizing the shift towards greener energy.