)

Terna (TRN) investor relations material
Terna Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Announced a ten-year national development plan with over €23 billion in grid investments and an updated 2024–2028 industrial plan with €17.7 billion focused on efficiency, resilience, and renewables integration.
Delivered solid H1 2025 results, maintaining focus on strategic plan execution and confirming 2025 guidance despite a challenging environment.
Achieved major infrastructure milestones, including Tyrrhenian Link and Adriatic Link progress, and signed the Italy-Greece HVDC interconnection MoU.
Launched innovation initiatives with Microsoft and academic partners, and published the first consolidated sustainability report aligned with new EU directives.
New board member and committee chair appointed.
Financial highlights
Group revenues rose 8% year-over-year to €1.894 billion, mainly driven by regulated activities.
EBITDA increased 8.2% to €1.36 billion, with regulated activities contributing €1.302 billion.
Net income reached €588 million, up 7.9% compared to the first half of last year.
CapEx hit a record €1.39 billion, up 27% year-over-year, supporting major grid projects.
Net debt at June 2025 was €12 billion, up from €11.2 billion at 2024 year-end, mainly due to CapEx acceleration and dividend payments.
Outlook and guidance
Full-year 2025 guidance confirmed, supported by strong first-half results and robust execution of the investment plan.
2025 revenue expected at €4.03 billion, EBITDA at €2.70 billion, and net profit at €1.08 billion.
Capex targeted at €3.4 billion for 2025.
Focus on delivering the 2024–2028 Industrial Plan, grid digitalisation, and energy transition projects.
Continued progress on major projects: Tyrrhenian Link, Sa.Co.I.3, Adriatic Link, and Milan-Cortina 2026 grid.
Next Terna earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage