Performance

Human resources

In 2012 the Group's personnel fell in number compared with 2011, after two years of growth. This reduction is a reflection of few recruitments in comparison to greater leavings – meaning that employees leaving the Group were only partially replaced. At the end of 2012, the Italian companies of the Group totalled 3,433 employees, in addition to the 3 employees of the Montenegrin subsidiary Terna Crna Gora d.o.o. Unless explicitly indicated, these last employees are excluded from the data presented in this chapter.

Environmental costs

Terna's commitment to the environment is reflected in the costs incurred for environmental reasons, both as investment and as operating expenses. Environmental costs were shown separately on the basis of the definitions presented below, by aggregating information deducible from the company's general and industrial accounting. In 2012 these definitions and the methodology described below became an operating guideline for the Terna Group. 

Recording methods

Sustainability objectives and results

In 2012 all areas of responsibility showed progress. The following table summarises the results obtained relative to the 2012 objectives stated in the previous Sustainability Report, referring to the pages of the Report which show, in greater detail, the various initiatives and results achieved.

Service continuity and quality

Continuity is the most important parameter for measuring the performance of the electricity service. All the segments of the electricity system – generation, transmission, and distribution – contribute to the final result: ensuring society the availability of electricity with outages below pre-established thresholds and with appropriate standardsof technical quality.

Value added

In the period 2010-2012, the value added generated by the Group increased by 23.8% with regard to its continuing operations and by 9.5%, when the added value of discontinued operations relative to 2010 are included.

During the 2010-2012 three-year period, the incidence of remuneration of employees (on average 22.9%) and borrowed capital (on average 13.8%), relative to the total net added value of ongoing activities was essentially stable.

Comprehensive Group results

Comprehensive Group results

The Consolidated Financial Statements as at and for the year ended 31 December 2012 show a net profit of €464 million, entirely attributable to the Group and with reference to continuing operations.

Net profit

Main 2012 economic-financial results

The 2012 fiscal year, which coincided with the beginning of the new regulation period 2012-2015, saw application of Resolutions 199/11, 204/11 and 197/11 with which the Authority for Electricity and Gas established the remuneration for providing electricity transmission, distribution, metering and dispatching services and the regulation of transmission service quality.

Syndicate content