Terna S.p.A. (TRN.MI) Q1 2025 Earnings – Full Coverage
*★★Terna S.p.A. (TRN.MI) Q1 2025 Earnings – Full Coverage* *★KEY HIGHLIGHTS:★* ★**Financials**★ – Q1 2025 revenue €902M (~$974.2M USD, +5.1%), EBITDA €652M (+3.8%), net income €275M (+3%), CapEx €562M (+16.4%). ★**Operations**★ – 12 grid projects authorized (€240M), Tyrrhenian Link progress, net debt stable at €11.1B, green bond issuance (€750M). ★**Strategy**★ – CFO Francesco Beccali emphasized €17.7B 2024-2028 investment plan, energy transition leadership, and ESG focus. ★**Outlook**★ – Confirms 2025 targets, expects €550M out-of-base incentives, no WACC change for 2026, robust grid…