Risultato

Directors' Report

• Highlights

• Significant events

  • Core business
  • Finance
  • Sustainability index
  • Photovoltaic project

• Terna SpA

  • Foreword
  • Reclassified income statement
  • Reclassified financial position
  • Cash flows
    • Net financial debt
    • Cash flow
    • Change in net financial position

• Terna Group

  • Foreword
  • Reclassified consolidated income statement
  • Reclassified consolidated financial position
  • Reconciliation of consolidated
  • Cash flows
    • Net financial debt
    • Cash flow
    • Change in net financial position

• Risks and uncertainties

  • Regulatory risk
  • Domestic legislative risk
  • Operational risks
  • Litigation risk
  • Market and financial risks
  • Risks connected with financing needs

• Security

  • Security Operations Centre (SOC)
  • Risk Management
  • Control of Management Systems
  • Physical Security
  • Information Security

• CSR

  • Electrical service
  • Environment
  • Social Responsibility

• Additional activities

  • Information Technology
  • Research and Development
  • Human Resources and Organisation
  • Related party transactions
  • Significant non-recurring events and operations, atypical or unusual transactions
  • Other information
  • Events after the reporting date
  • Outlook

Electricity System

• National Transmission Grid

  • Number of plants Terna Group (Terna + Telat)
    • Number of plants - Terna
    • Number of plants - TELAT
  • Development Plan for the NTG
  • Work carried out in the year

• Energy overview

  • Energy demand in Italy
  • Power generation

• Dispatching and trade

  • Electricity business
  • Coverage of demand
  • Provisioning of dispatching resources
  • Interruptibility service
  • Instant reduction service in withdrawals on the major islands
  • Interconnector e Shipper
  • Service Quality

• Terna and the photovoltaic energy

• Italy’s regulatory framework

  • Summary of AEEG Resolutions

Financial Statements

• Income Statement

• Statement of financial position - Assets

• Statement of financial position - Liabilities

• Statement of changes in equity

• Statement of cash flows

• Explanatory notes

• Certification of the Financial Statement

• Report by the Board of Statutory auditors

• Report of the independent auditors

Consolidated financial statements

• Income Statement

• Consolidated statement of financial position - Assets

• Consolidated statement of financial position - Liabilities and equity

• Statement of changes in consolidated equity

• Consolidated statement of cash flows

• Explanatory notes

• Certification of the consolidated financial

• Report of the independent auditors

22. Loans and financial liabilities