Group revenues increased to € 298.1 million vs. € 273.1 million in 2021 supported by higher load factors in our RES assets, driving adj. EBITDA from continued ops at € 164.7 million (+3.0% y-o-y) and adj. net profit to 69.7m (+2.5% y-o-y).
The BoD will propose to the upcoming AGM a total cash distribution to € 45.0 million (0.38/sh gross) compared to € 40.0 million in 2021 (0.34/sh).
2022 has also been a milestone year for the growth of the company as the gradual electrification of the new wind park cluster started before the end of the year, while construction works for the large scale and duration hydro pump storage project in Amfilochia (680MW) commenced. It is noted that large scale storage projects are a key prerequisite for the further development of RES and the stability of the system. At this point TERNA Energy has more than 2.0 GW of projects in operation, under construction or ready to start construction. The gradual contribution of our new investments from 2023 onwards will further support the growth of our profitability.
It is also important to note that during the energy crisis, TERNA Energy has provided significant support to the Greek electricity system and the consumers, with the total contribution to the Energy Transition Fund (TEM) exceeding € 500 million.
Our ability to provide cheap, domestically generated and sustainable energy is a testament to all our efforts and investments over the years and gives us confidence and strength to continue to generate value for all our stakeholders.
