Terna Rete Elettrica Nazionale SpA (TRN)

  9.76
   
  • Change Today:
     -0.11
  • 52 Week High:  10.35
  • 52 Week Low:  8.32
  • Currency: Euro
  • Shares Issued: 2,006.02m
  • Volume: 3,629,944
  • Market Cap:  19,575m
  • RiskGrade: 92

Fundamentals - based on IFRS

    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Income Statement 31-Dec-25 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21
Continuing Operations          
Revenue 4,010.00 3,680.20 3,186.70 2,898.10 2,534.50
Operating Profit/(Loss) 1,803.60 1,677.40 1,362.30 1,322.50 1,201.60
Profit Before Tax 1,606.70 1,505.90 1,244.60 1,233.40 1,121.50
Profit After Tax 1,111.50 1,050.90 880.30 878.00 802.20
           
Earnings per Share - Basic 53.00¢ 52.30¢ 42.80¢ 43.00¢ 40.00¢
Earnings per Share - Adjusted 53.00¢ 52.30¢ 42.80¢ 43.00¢ 40.00¢
           
Dividend per Share 37.00¢ 39.62¢ 33.96¢ 31.40¢ 30.00¢
    (Millions)   (Millions)   (Millions)   (Millions)   (Millions)
Balance Sheet 31-Dec-25 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21
Assets          
Non-Current Assets          
Property, Plant & Equipment 21,665.10 19,237.10 17,596.70 16,200.90 15,316.60
Intangible Assets 1,292.70 982.20 867.20 775.80 656.50
Other Non-Current Assets 841.20 713.10 686.70 705.10 1,176.50
  23,799.00 20,932.40 19,150.60 17,681.80 17,149.60
Current Assets          
Inventories 127.70 108.20 75.00 83.00 80.90
Cash at Bank & in Hand 1,832.70 2,311.50 1,378.20 2,401.90 2,543.10
Other Current Assets 4,223.40 3,819.10 2,704.60 2,636.20 2,585.60
  6,183.80 6,238.80 4,157.80 5,121.10 5,209.60
           
Other Assets n/a 15.40 85.00 n/a n/a
Total Assets 29,982.80 27,186.60 23,393.40 22,802.90 22,359.20
Current Liabilities          
Borrowings 860.70 2,338.10 2,586.30 2,398.30 1,947.16
Other Current Liabilities 5,872.30 4,525.60 3,735.60 4,411.00 5,442.74
           
Current Liabilities 6,733.00 6,863.70 6,321.90 6,809.30 7,389.90
           
Net Current Assets c(549.20) c(624.90) c(2,164.10) c(1,688.20) c(2,180.30)
           
Borrowings 13,896.50 11,469.20 9,573.70 8,663.90 8,835.00
Other Non-Current Liabilities 1,540.60 1,309.50 1,149.90 1,160.60 1,452.40
Non-Current Liabilities 15,437.10 12,778.70 10,723.60 9,824.50 10,287.40
           
Other Liabilities n/a 0.20 4.60 n/a n/a
Total Liabilities 22,170.10 19,642.60 17,050.10 16,633.80 17,677.30
           
Net Assets 7,812.70 7,544.00 6,343.30 6,169.10 4,681.90
           
Shareholders Funds 7,812.70 7,524.20 6,324.40 6,169.10 4,681.90
           
Minority Interests/Other Equity n/a 19.80 18.90 n/a n/a
Total Equity 7,812.70 7,544.00 6,343.30 6,169.10 4,681.90
Cash Flow 31-Dec-25 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21
Net Cash Flow From Operating Activities 2,627.70 1,468.70 1,084.90 2,323.70 832.30
Net Cash Flow from Investing Activities (3,835.20) (2,404.40) (2,334.40) (1,855.40) (863.30)
Net Cash Flow from Financing Activities 729.60 1,867.00 564.30 92.50 (1,051.80)
Net Increase/Decrease In Cash (477.90) 931.30 (685.20) 560.80 (1,082.80)
Ratios - based on IFRS 31-Dec-25 31-Dec-24 31-Dec-23 31-Dec-22 31-Dec-21
Continuing Operations          
PE Ratio - Adjusted 17.1 15.2 17.6 16.0 17.8
PEG - Adjusted 17.1 0.7 n/a 2.0 5.9
Earnings per Share Growth - Adjusted 1% 22% -0% 8% 3%
Dividend Cover 1.43 1.32 1.26 1.37 1.33
Revenue per Share 199.90¢ 183.46¢ 158.86¢ 144.47¢ 126.34¢
Pre-Tax Profit per Share 80.09¢ 75.07¢ 62.04¢ 61.48¢ 55.91¢
Operating Margin 44.98% 45.58% 42.75% 45.63% 47.41%
Return on Capital Employed 7.55% 7.39% 7.06% 7.50% 7.57%
           
Dividend Yield 4.1% 5.0% 4.5% 4.6% 4.2%
Dividend per Share Growth (6.61%) 16.67% 8.15% 4.67% 11.11%
Operating Cash Flow per Share 130.99¢ 73.22¢ 54.08¢ 115.84¢ 41.49¢
Cash Incr/Decr per Share (23.82¢) 46.42¢ (34.16¢) 27.96¢ (53.98¢)
Net Asset Value per Share (exc. Intangibles) 325.02¢ 327.11¢ 272.98¢ 268.86¢ 200.67¢
Net Gearing 165.43% 152.78% 170.48% 140.38% 175.98%

Key

* GAAP

a. Includes discontinued activities

b. Including assets due in more than one year

c. Not disclosed under IFRS

d. Total fixed assets

e. Includes borrowings

f. Included in cash flow from operating activities under IFRS

g. Included in net cash from investing activities under IFRS

h. Pre-tax

i. Capital expenditure

j. Based on operating cash flow before tax

k. Issue of ordinary shares

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Forecast figures based on normalised accounts.

 

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