Chairman's message

Luigi Roth

Dear Terna’s Shareholders and Stakeholders,

the Financial Statement that we are presenting once again underlines our Company’s capability in identifying, through the ongoing market changes, opportunities for our growth and that of the country. In 2011, a very difficult year economically, politically and socially, not only for Italy, we nonetheless succeeded in confirming our trend of continuously improving results.

First of all, this occurred in terms of investments, representing the most significant indicator of our role as a useful company for the country, that marked a further increase compared to the previous year. Developing transmission infrastructures was carried out – according to a responsible approach adopted years ago and implemented over time – as part of searching for shared solutions with local authorities and with great attention devoted to placing such infrastructures into the landscape and the environment.

The grid has grown significantly and sustainably: the Chignolo-Po-Maleo electricity line, inaugurated in July 2011, represents the most significant example. Its 88 mono-pole pylons, less environmentally impacting without losing their technical functionality, have made this work a primary example of the grid’s sustainable development that will allow saving over 25 million euros a year for the electricity system and consequently also for the communities. Work also continued for implementing another strategic project, the Sorgente-Rizziconi electricity line that will connect Sicily and Calabria contributing in a determining way to solving electricity criticalities in the major Italian island.

Searching for solutions that join pylon functionality and aesthetics – one of the most significant aspects of our applied research activities – has led, also following the entrance into operation of the Foster pylons in Tuscany, to a substantial completion of the engineering of pylons designed by the architect Dutton, winner of the international contest that ended last year. Focusing on the environment and on biodiversity was implemented by continuing activities for controlling and reducing the environmental impacts as part of our environmental management system and also with environmental mitigation and restoration measures in three WWF Oases, in collaboration with this organization.

More generally, Terna has increasingly opened up to dialogue with stakeholders. This approach included the agreement with Legambiente for promoting a sustainable energy culture and the presentation of the Development Plan to associations, entrepreneurs, the sector and consumers, that favored the agreement signed in April 2012 with 18 consumer associations for sharing a vision focused on the electricity system’s functionality and on consumer protection.

Internally, our knowhow transfer and strengthening objective has been confirmed by the high level of investments for training, in support of the professional excellence that underlies Terna’s operational and financial success. The Group’s new organizational structure, officially approved in April 2012, supports our strategic objectives, focusing professional contributions towards uniform results and consequently further enhancing the input from human resources.

2011 was therefore another year marked by success, that the Group’s strategic objectives will allow attaining also in the next years. Our work, that we have never interrupted, for improving processes and our capability for creating value for shareholders and all stakeholders, is the best basis for confidently looking ahead to future challenges.


The Chairman
Luigi Roth