• Approved unanimously the financial statements as at December 31, 2011
  • Approved the distribution of a dividend of Euro 0.19 per share
  • Approved the Report on the First Section of the remuneration provided for by art. 123-ter TUF
  • Approved the remuneration adjustment of the Audit company 

The Shareholders’meeting of TerniEnergia, a company operating in the renewable Energy sector and 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 statemets and acknowledged the consolidated financial statements as at December 31st, 2011.
Results of the Group TerniEnergia 
Consolidated net revenues amounted to Euro 169.8 million a 70% increase (Euro 99.9 million as at 31/12/2010) achieved by the excellent operating management. The Group consolidated its leadership in EPC segment related to the supply of “turnkey” medium and large sized photovoltaic plants, completing 43 new plants with a total power of 75.7 MWp, in line with respect to the 2010 installed power (77.2 MWp), power plant (1.76 MWp compared to 0.98 MWp in 2010). The production of property plants, some of which started running during such period was 63 million of kWh. In 2012 the built plants will guarantee a production exceeding 80 million kWh.
The gross operating profits (EBITDA), was Euro 15.2 million, an increase of 4% compared to the previous financial year.The increase in EBITDA was achieved despite the long period of regulatory uncertainty prior to approval of the 4th Energy Bill, due to the significant managerial actions in terms of optimizing investment, increase efficiencies and cost savings implemented by the Group.
The operation profit (EBIT) was Euro 13.2 million (Euro 13.8 million as at 31/12/2010), after depreciation and provisions of 2 million.
The Net profit was of Euro 9.05 million +0.3% compared to 2010 (Euro 9.02 million).
The Net financial position was Euro 35.8 million (Euro 34.4 million as at 30/09/2011). The change compared of Euro 5.7 million as at December 31st, is related to support investments in “full-equity” ( NFP remains very limited in respect with the volumes of the installations and investments for “full equity” plants performed during which was Euro 28 million). The gearing ratio (NFP/Net equity) was 1.1.
Results of TerniEnergia S.p.A
Net revenues amounted to Euro 197.8 million (Euro 126.6 million as at 31/12/2010). The gross operating profit (EBITDA) amounted to Euro 16.6 million (EUR 20.9 million as at 31/12/2010). The operating result (EBIT) amounted to Euro 14.7 million (EUR 20.4 million as at 31/12/2010). The net result was of Euro 7.9 million (Euro 12.8 million as at 31/12/2010).
Dividend
Shareholders’ meeting also approved the distribution of dividends equal to Euro 0.19 per ordinary share (of equal value compared to the dividend distributed in 2011) at the gross with-holdings set forth by law. The dividend shall be paid through authorized intermediaries on May 24th, 2012 and the relevant coupon no. 3 shall be separated on May 21st, 2012.
Remuneration Report ex art. 123-ter D. Decree 58/98
Finally the Shareholders’ meeting approved the Report on remuneration of Directors and Managing Directors with strategic responsibility provided by art. 123-ter of D. Decree 58/98
Remuneration adjustment of the Audit company
Shareholders’ meeting, unanimously, approved adjustments to the remuneration of the Auditing Company PricewaterhouseCoopers, in consideration of the new acquisitions of Lucos Alternative Energies S.p.A., which involved an increased use of resources by the Audit company.