• 2009 Financial Statement with significantly growing margins and proceeds has been approved
  • The distribution of dividends for € 0,1 per share has been approved
  • The Board of Directors and Stefano Neri as Chairman and Managing Director have been confirmed
  • The Board of Statutory Auditors has been appointed

 The shareholders’ meeting of TerniEnergia S.p.A., a company listed on MTA of Borsa Italiana, operating in the renewable energy sector, approved the financial statements and acknowledged the filing of the consolidated financial statements as at December 31, 2009.

 

Stefano Neri, Chairman and Managing Director, commented as follows: “The Board of Directors members confirmation is an important recognition of our significant commitment that has been characterizing us  since listing to date, and that allowed us to position ourselves among the players of reference in the renewable energy sector in Italy. We shall pursue further a growth route in order to indentify new development opportunities of the Group and for creating value for our shareholders”.

 

TerniEnergia S.p.A.’s results as at 31 December 2009

 

The revenues were € 55.7 million (€ 34.4 million as at 31/12/2008).

 

The gross operating profits (EBITDA) were € 10.1 million (€ 2,9 million as at 31/12/2008).

 

The operating results (EBIT) were € 9.8 million (€ 2.3 million as at 31/12/2008).

 

The net result was € 6,2 million (€ 1,4 million as at 31/12/2008).

 

 

Consolidated results as at December 31, 2009

 

The Group obtained revenues equal to € 46.8 million (increasing for an amount equal to 47% in respect of December 31, 2008). Such a significant growth is due to the installed power, that increased from MWp 10.6 in 2008 to MWp 27.2 in 2009.

The gross operating profits (EBITDA) was € 7.3 million (€ 2.4 million as at December 31, 2008) with a sensitive growth of the margins which passed from 7.4% to 15.6%.

The operating result  (EBIT) was € 6.9 million with significantly growing margins and that is 45,2% in respect of 17.4% of the previous financial year.

The  JV result share was negative for an amount of € 0.6 million in line with the 2008 result (negative for an amount of € 0.5 million).

The net result was equal to € 3,7 million (€ 0.5 million as at December 31, 2008), so exceeding the result that was estimated in the business plan for the whole year 2009 and equal to 8% of the net revenues.

The Net Financial Position, equal to € 2.7 million,  significantly improved if compared with the same result as at December 31, 2008 (€ 5.9 million).

 

Distribution of Dividends

 

As confirmation of the  Board of Directors’ approval, the Shareholders’ Meeting approved the distribution of a dividend equal to Euro 0.1 per single ordinary share (at the gross of with-holdings set forth by law) and at the net of the amount  that shall derive from the dividend that would have pertained to the own shares as owned at the date before the coupon separation. Such a dividend shall be paid through authorized intermediaries within May 13, 2010 and the relevant coupon no. 1 shall be separated on May 10, 2010.

 

Confirmation of the Board of Directors and Appointment of the Board of Statutory Auditors

The shareholders’ meeting and the Board of Directors, held on the same date after the shareholders’ meeting, confirmed the appointment for the three-year period 2010-2012 ofStefano Neri as Chairman and Managing Directors, Eugenio Montagna Baldelli as Vice-Chairman, Paolo Ricci and  Fabrizio Venturi as the Managing Directors , Paolo Ottone Migliavacca, Davide Gallotti and Domenico De Marinis as Independent Directors. In addition, the following members of the Board of Statutory Auditors were appointed: Ernesto Santaniello (Chairman), Vittorio Pellegrini, (Statutory Auditor), Roberto Raminelli (Statutory Auditor), Fausto Sciamanna (Alternate Auditor), Marco Rosatelli (Alternate Auditor)

The annual gross remuneration of the Board of Directors was also approved (i.e., Euro 470,000 plus expenses refund) and of  Board of Statutory Auditors (Euro 70,000 plus expenses refund).

 

FIling of Documents

 

 

The financial statements for the year ended on December 31, 2009, that was approved by the shareholders’ meeting held today, provided with all the documents requested by the applicable laws, as well as the consolidated financial statements are available for the public at the company’s registered office and  Borsa Italiana S.p.A., as well as on the Internet company’s website (www.ternienergia.com).

 

The minutes of the shareholders’ meeting shall be rendered available to the public in the places indicated above within the terms set forth by law..

 

This press release is also available on the company’s website www.ternienergia.com.

 

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 Statement,that the accounting information that is contained in this press release corresponds to the documentary results, the accounting books and records.