CDP RETI: Board of Directors approves draft separate financial statements and 2023 consolidated financial statements

CDP RETI FINANCIAL HIGHLIGHTS

Assets: 5.3 billion euro (5.4 billion in 2022)

Shareholders’ equity: 3.6 billion euro (3.6 billion in 2022)

Net income: 513 million euro (501 million in 2022)

CONSOLIDATED FINANCIAL HIGHLIGHTS

Assets: 74 billion euro (72 billion in 2022)

Shareholders’ equity: 18.9 billion euro (18.6 billion in 2022)

Net income: 2.2 billion euro (1.8 billion in 2022)

Rome, 25 March 2024 h. 12:43 – The Board of Directors of CDP RETI S.p.A. (CDP Group) today approved the draft separate financial statements and the consolidated financial statements at 31 December 2023.

The draft financial statements will be submitted for approval to the Shareholders' Meeting to be held upon first call on May 13^th, 2024 and if necessary, on second call on May 23^th.

CDP RETI performance and financial position

Total assets, equal to 5.3 billion euro, are mainly represented by the equity investments in Terna, Snam and Italgas (measured at purchase cost and are equal to 5 billion euro).

With reference to liabilities, non current loans (including the current portion) equal to 1.7 billion euro (1.4 billion at the end of 2022) and shareholders’ equity equal to 3.6 billion euro.

Dividends amount to 553 million euro, up compared to 2022 (+6%), due to the positive effects of increased dividends (in terms of dividend per share) of the subsidiaries.

Net income stands at 513 million euro, up (+2%) compared to 2022, chiefly due to the higher dividends, only partly absorbed by a higher impact of financial operations.

Consolidated performance and financial position

Total consolidated assets, equal to 74 billion euro (up compared to 2022) are mainly attributable to property, plant and equipment for 40.9 billion euro.

Shareholders’ equity equal to 18.9 billion euro (of which 5.0 billion euro pertaining to CDP RETI).

Consolidated net income equal to 2.2 billion euro, up 24% compared to 2022.

The net income pertaining to CDP RETI shareholders equals 631 million euro.

Shareholders’ Meeting and Dividend

The Board of Directors has decided to propose the distribution of a total ordinary dividend for 2023, gross of any legal withholding taxes, equal to 512,537,221.62 euro (3,173.33 euro per share), of which 343,042,814.88 euro (2,123.92 euro per share) already distributed as an interim dividend in November 2023, to the approval of the Shareholders’ meeting called for May 13 ^th, 2024 and if necessary, on second call on May 23^th.

Based on the proposal of the Board of Directors, the 2023 dividend balance, equal to approximately 169 million euro (1,049.41 euro per share), will be paid by May 31^st, 2024.

The Financial Reporting Manager, Alessandro Uggias, declares, pursuant to Article 154-bis, paragraph 2, of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to documentary evidence and the accounting books and records.

CDP RETI S.p.A. is an investment vehicle owned by Cassa Depositi e Prestiti S.p.A. (59.1%), State Grid Europe Limited, State Grid Corporation of China group (35%),and a group of Italian institutional investors (5.9%). CDP RETI’s mission is to manage the investments in SNAM (31.35% as of December 31, 2023), TERNA (29.85% as of December 31, 2023) and ITALGAS (25.99 % as of December 31, 2023).