2010 Financial statements approved by the Shareholders’ Meeting. Approved the distribution of dividends equal to Euro 0,19 per share

The Shareholders’ meeting of TerniEnergia  S.p.A. a  company operating in the renewable energy field, listed on Star Segment of Borsa Italiana that took place today under the chairmanship of the Chairman and Managing Director Mr. Stefano Neri, reviewed and approved unanimously the financial statements and acknowledged the consolidated financial statements as at December 31, 2010.
Consolidated net revenues amounted to Euro 99.9 million, with  an increase of 113% (Euro 46.8 million at 31/12/2009), such an increase due to the excellent operating management performance.
The Group strengthened its leadership in the EPC segment where it provides “turnkey” medium and large sized photovoltaic  plants, building 76 new plants for a total  capacity of 77.2 MWp, more than doubled if compared to the total power installed in 2009 (27.2 MWp).
The gross operating  profits ( EBITDA) equal to  Euro 14,6 Million recorded an increase of 100% compared to the previous financial year. EBITDA positive increase was due both to the increasing amount of installed capacity  and to the optimization of business processes and its  economies of scale.
The operating result  (EBIT) was equal to Euro 13.8 Million ( Euro 7.0 million as at December 31^st, 2009),  after amortization and funds amounting to Euro  0.9 million.
The period net result  was equal to Euro 9.0 Million with an increase of Euro 5.3 compared to 2009 (+142,2%).
The Net Financial Position was equal to Euro 5.7 Million. Although PFN increased over the year ended December 31, 2009, it is still limited if compared to the volume of installations in 2010. The gearing ratio (PFN / Equity) decreased from 20.1% to 19.1%.
Shareholder’s Meeting also approved the distribution of a dividend  equal to Euro 0,19 per share (doubled compared to the dividend distributed as at 2010 which was equal to Euro 0,10 per share) at the gross with-holdings set forth by law and at the net of own shares.  Such a dividend shall be paid through authorized intermediaries on May 12, 2011,  and the relevant coupon nr. 2 shall be separated on May 9, 2011.
Finally the  Shareholders’ Meeting also approved amendments to the remuneration of the Auditing Company PricewaterhouseCoopers, in consideration of the new acquisitions of stakes in subsidiaries and joint ventures  Companies which involved  an increased use of resources by the Audit  company.
The Officer responsible for the preparation of accounting and corporate documents, Dott. Paolo Allegretti, declares, pursuant to paragraph 2, art.154-bis of the Consolidated Financial Act, that the accounting information that is contained in this press release correspond to the documentary results, the accounting books and records.