Pipeline of projects: the target exceeds 150 MWp of installed capacity for the years 2010-2012
- Starting new joint ventures for carrying out power generation activity
- Increase of EPC activity
- 2012 production value target: Euro 92 million (CAGR +21%)
- 2012 EBITDA target: Euro 14 million (CAGR +19%)
- The Board of Directors shall propose the distribution of 2009 dividends whose pay-out ratio is in the region of 40% to 45%
Terni, November 30, 2009
The Board of Directors of TerniEnergia S.p.A., a company listed on MTA of Borsa Italiana, operating in the renewable energy sector, approved the strategic plan for the years 2010-2012.
Stefano Neri, Chairman and Managing Director of TerniEnergia, declared the following:
”TerniEnergia establishes itself in the energy sector, notably in the photovoltaic field, with 35 MWp of installed capacity and with a portfolio of No.122 already completed plants in three years, when it started its operation. Our pipeline of projects includes the setting up of a capacity exceeding 150 MWp during the next three-year period, partially to be performed through joint ventures with industrial partners aimed at energy production. The strenghtening of power generation shall increase the visibility on the business development thus limitng the risk profile. We do not exclude to transfer in the future a part of the plants completed also thanks to financial partners’ support. Operating results and financial solidity shall guarantee our plan feasibility”.
Strategic lines
For the purpose of strenghtening its competitive position, both in the EPC field and in the energy production, the Company identified the following guide-lines for the three-year period 2010-2012:
- Increasing Joint Ventures for the installation of a total capacity amounting to 100 MWp within 2012;
- Starting new financial partnerships aimed at building and transferring plants;
- Diversification in the photovoltaic energy trading activity starting from 2011;
- Strenghtening of EPC activity on account of third parties (with and without direct PV modules supply) for an installed capacity in the three-year period exceeding 70 MWp;
- Improving the management and control of the plants already completed, such activities having high margins and steady returns; Increasing technologic scouting aimed at optimizing the construction and the management of the photovoltaic plants;
- Carrying out acquisitions in Italy and abroad of stakes in companies able to strenghten its industrial operation also trough exchange of own shares.
Economic – financial target
The main economic and financial goals of the Group consist in the increase of profits and the growing of the main operation profitability indexes in the next three years by virtue of the growing know-how that allows the direct control of the production process and the optimization of the timing for plants construction. TerniEnergia expects the development of a strategic projects pipeline aimed at achieving in 2012 a Production Value amouting to Euro 92 million with an esteemed 2010-2012 CAGR of 21% and an EBITDA increase in 2012 up to Euro 14 million with a 2010-2012 CAGR amounting to 19% (EBITDA margin 15%).
Investments shall be equal to Euro 18 million in the next three-year period and mainly concentrated on the development of own photovoltaic plants performed through equally held JV.
Dividends Policy
Thanks to the excellent results achieved, the Board of Directors shall propose the distribution of the Dividend with a payout ratio in the region of 40 to 45%.
