CDP RETI: Board of Directors approves draft separate financial statements and 2024 consolidated financial statements

CDP RETI FINANCIAL HIGHLIGHTS
Net income: 539 million euro (513 million in 2023)
Total Assets: 5.3 billion euro (5.3 billion in 2023)
Equity: 3.5 billion euro (3.6 billion in 2023)

CONSOLIDATED FINANCIAL HIGHLIGHTS
Consolidated net income: 2.5 billion euro (2.2 billion in 2023)
Consolidated net income pertaining to the Parent Company CDP RETI S.p.A: 733 million euro (631 million in 2023)
Total Consolidated Assets: 80 billion euro (74 billion in 2023)
Consolidated Equity: 21.3 billion euro (18.9 billion in 2023) of which 5.1 billion euro pertaining to the Group

Rome, 8 April 2025 h. 13:21 – 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 2024.

The draft financial statements will be submitted for approval to the Shareholders' Meeting to be held upon first call on 22 May 2025 and if necessary, on second call on 26 May 2025.

CDP RETI performance and financial position

Net income stands at 539 million euro, up (+5%) compared to 2023, chiefly due to the higher dividends accruing.

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 (1.7 billion at the end of 2023) and shareholders’ equity equal to 3.5 billion euro (3,6 billion in 2023).

Dividends accruing amount to 581 million euro, up compared to 2023 (+5%), due to the positive effects of increased dividends (in terms of dividend per share) of the subsidiaries.

Consolidated performance and financial position

Consolidated net income equal to 2.5 billion euro, up 15% compared to 2023.

Consolidated net income pertaining to the Parent Company CDP RETI S.p.A: 733 million euro.

Total consolidated assets, equal to 80 billion euro (74 billion in 2023) are mainly attributable to property, plant and equipment for 44.1 billion euro.

Consolidated equity equal to 21.3 billion euro (of which 5.1 billion euro pertaining to the Group).

Shareholders’ Meeting and Dividend

The Board of Directors has decided to propose the distribution of a maximum total ordinary dividend for 2024, gross of any applicable withholding taxes, equal to 539,382,665.39 euro, of which 361,865,656.44 euro already distributed as an interim dividend in November 2024, to the approval of the Shareholders’ meeting called for 22 May 2025 and if necessary, on second call on 26 May 2025.

Based on the proposal of the Board of Directors, the final dividend, to be distributed based on the resolution to be approved by the Shareholders' Meeting, equal to maximum 177,517,008.95 euro, gross of any applicable withholding taxes.

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% as of December 31, 2024), State Grid Europe Limited, State Grid Corporation of China group (35% as of December 31, 2024), and a group of Italian institutional investors (5.9% as of December 31, 2024). CDP RETI’s mission is to manage the investments in SNAM (31.35% as of December 31, 2024), TERNA (29.85% as of December 31, 2024) and ITALGAS (25.98% as of December 31, 2024).