Terna FY net rises to 366.3 mln eur, beating expectations |
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Published
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Wed, 21 Mar 2007 17:49
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MILAN (AFX) - Terna SpA said full-year net profit rose 23 pct to 366.3 mln eur from 297.9 mln in 2005, beating market expectations, underpinned by a sharp increase in sales due mainly to higher electricity transmission fees.Net profit was expected at 317.8 mln eur, according to a Thomson First Call consensus estimate.Terna said it will pay a dividend of 0.14 eur per share, up from 0.13 eur it paid out of its 2005 profits, in line with expectations. The proposed dividend includes an interim dividend of 0.053 the company paid in November.Sales rose 20.9 pct to 1.307 bln eur, EBITDA rose 25.6 pct to 899.9 mln, and EBIT rose 27 pct to 687.5 mln, all beating the consensus estimate of 1.260 bln, 868.4 mln, and 640.6 mln respectively.Terna chief executive Flavio Cattaneo said results were in line with and, in some cases, even ahead of its 2006-2010 business plan targets.At the end of December, net debt stood at 2.282 bln eur, representing a gearing of 1.06, and compared with 2.2268 at the end of 2005.Terna repeated it will continue seeking foreign investment opportunities, paying particular attention to their 'profitability and limited risk profile'.danilo.masoni@thomson.comdm/cmlCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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