TERNIENERGIA PRESENTA IL NUOVO PIANO INDUSTRIALE 2014-16 E AGGIORNA I TARGET 2013 • Outlook 2013: Utile Netto pari a circa euro 7 milioni • Valore della produzione: CAGR 2014-16 +35% • EBITDA margin 2014-16 pari al 14,5% • Utile netto: CAGR 2014-16+58% • Gearing ratio 2016 pari a 0,6x • Investimenti 2014-16: euro 16,5 milioni per attività di ESCO con formula FTT • Pay-out ratio costante e pari a circa il 50% “DISCOVER THE NEW GREEN ERA”: PRINCIPALI LINEE STRATEGICHE TerniEnergia punta ad affermarsi tra i maggiori player a livello internazionale nel settore di riferimento grazie al nuovo modello di business e all'integrazione della struttura finanziaria. Il nuovo piano industriale prevede il rafforzamento del processo di internazionalizzazione, con focus strategico sugli impianti di dimensione industriale e il consolidamento di partnership e sinergie con operatori industriali e finanziari caratterizzati da elevato merito creditizio. TerniEnergia manterrà la proprietà (piena o in JV) della maggior parte degli asset, al fine di assicurare ricavi stabili e ricorrenti nel lungo periodo. I nuovi investimenti saranno concentrati nel settore dell'efficienza energetica che si stima in forte crescita, con significative marginalità ed elevato tasso di innovazione tecnologica. Il Piano evidenzia l'importanza dell'attività di EPC, anche grazie all'accordo raggiunto con Prelios SGR e con l'advisor Power Capital per la costituzione del Fondo immobiliare chiuso denominato RA (Renewable Assets), destinato a investire sulla nuova asset class costituita dagli impianti di produzione energetica da fonti rinnovabili. TerniEnergia è il partner tecnico industriale del Fondo RA con target di raccolta a 100 milioni di euro in due tranche da 50 milioni e una leva superiore al 60%. Il Gruppo, all'inizio del 2014, apporterà al Fondo RA impianti di sua proprietà per circa Euro 70 milioni di enterprise value, trattenendo quote del Fondo pari a circa il 5%. La restante liquidità del Fondo sarà utilizzabile per nuovi progetti che TerniEnergia svilupperà e realizzerà nel mondo per poi gestirli direttamente. Il nuovo modello prevede la costruzione di impianti su incarico di soggetti investitori che ne acquisiscono la proprietà e ne conferiscono a TerniEnergia la gestione, consente di ridurre la posizione finanziaria netta e autofinanziare gli interventi pianificati con i flussi di cassa generati dall’attività industriale e dalla cessione degli impianti agli investitori. Il nuovo piano industriale 2014-2016 punta ad accelerare la strategia di focalizzazione delineata col piano baseline lo scorso anno, attraverso l’innovativo modello di accesso al capitale, il rafforzamento della produzione di cassa e la stabilità dei margini nel periodo di piano.

1. INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
DISCOVER
THE NEW
GREEN ERA
TERNIENERGIA
INVESTOR BOOKLET

2. DISCLAIMER
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
2
This presentation contains statements that constitute forward-looking statements based TerniEnergia SpA’s current
expectations and projections about future events and does not constitute an offer or solicitation for the sale,
purchase or acquisition of securities of any of the companies mentioned and is directed to professionals of the
financial community.
These statements appear in a number of places in this presentation and include statements regarding the intent,
belief or current expectations of the customer base, estimates regarding future growth in the different business
lines and the global business, market share, financial results and other aspects of the activities and situation
relating to the Company.
Such forward looking statements are not guarantees of future performance and involve risks and uncertainties, and
actual results may differ materially from those expressed in or implied by these forward looking statements as a
result of various factors, many of which are beyond the ability of TerniEnergia SpA to control or estimate precisely.
Consequently it is recommended that they be viewed as indicative only.
Analysts are cautioned not to place undue reliance on those forward looking statements, which speak only as of the
date of this presentation.
TerniEnergia SpA undertakes no obligation to release publicly the results of any revisions to these forward looking
statements which may be made to reflect events and circumstances after the date of this presentation, including,
without limitation, changes in TerniEnergia SpA business or acquisition strategy or to reflect the occurrence of
unanticipated events.
Statement
The Manager mandated to draft corporate accounting documents of TerniEnergia SpA, Paolo Allegretti, attests – as
per art.154-bis. comma 2 of the Testo Unico della Finanza (D.Lgs. 58/1998) – that all the accounting information
contained in this presentation correspond to the documented results, books and accounting of the Company.

3. TERNIENERGIA
AGENDA
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
3
STEFANO NERI
CHAIRMAN & CEO
PAOLO RICCI
MANAGING DIRECTOR
FABRIZIO VENTURI
MANAGING DIRECTOR
PAOLO ALLEGRETTI
CFO
DISCOVER THE NEW GREEN ERA – STRATEGIC OVERVIEW
A NEW WORLD MARKET ASSESSMENT
INDUSTRIAL ROADMAP
DISCOVER THE NEW GREEN ERA - FINANCIALS

4. INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
DISCOVER
THE NEW
GREEN ERA
TERNIENERGIA
STEFANO NERI
CHAIRMAN & CEO

5. •33.3 MW in full ownership
•11.1 MW in JV 50:50
•1.5 MW biomass
•272 PV Plants installed
•272.2 MW installed
•20,000 area lights managed
•2 Biomass plants installed
•1 Discarded Tyres recovery plant installed
•2 water remediation plant installed
A SMALL GLOBAL COMPANY FULLY INTEGRATED IN THE GREEN INDUSTRY
HANDLED THE SLOWDOWN SCENARIO
THROUGH BUSINESS INTERNATIONALIZATION
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
5
INDEPENDENT
POWER
PRODUCER
INTEGRATED
ENERGY
SOLUTIONS
ENVIRONMENTAL
RESOURCES
SOLUTIONS
AVERAGE PLANT CAPACITY PER YEAR (MW)
INSTALLED MW
0.076
0.259
0.907
1.016
1.758
1.85
7.67
2007 2008 2009 2010 2011 2012 1H 2013
199.46
33.30
11.10 1.55
EPC
JV
FO
BIOMASS

6. INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
6
NET PROFIT
~ 7 Mio €
INDUSTRIAL
ENFORCEMENT
WITH FINANCIAL
BALANCE
FOREIGN
SUBSIDIARIES
A SMALL GLOBAL COMPANY FULLY INTEGRATED IN THE GREEN INDUSTRY
HANDLED THE SLOWDOWN SCENARIO
THROUGH BUSINESS INTERNATIONALIZATION
2013 FORECAST
~

7. A CLEAR SET OF INDUSTRIAL AND FINANCIAL PRIORITIES
DISCOVER THE NEW GREEN ERA
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
7
INCREASE
INTERNATIONAL
ACTIVITY
AN INNOVATIVE MODEL
FOR ACCESSING CAPITAL
STRONG SELECTION OF VALUE-DRIVEN CAPITAL ALLOCATION
HIGHER CASH FLOW
PRODUCTION
OUTPUT OF STABLE
PROFITABILITY
IN THE LONG TERM
FOCUS
ON UTILITY SCALE
PLANTS
CUSTOMERS AND
PARTNERS WITH
ACKNOWLEDGMENT
OF CREDIT RATING

8. WHERE WE SEE
OPPORTUNITIES
• EMERGING COUNTRY MARKETS WHERE PV
ENERGY DEMAND INCREASING
• MARKETS CHARACTERIZED BY DEMAND
FOR REPLACEMENT CAPACITY AND
ENERGY EFFICIENCY
• DEVELOPMENT OF PLANTS IN COUNTRIES
WHERE GRID PARITY MOST LIKELY TO
HAPPEN OR THROUGH PRIVATE OR PUBLIC
PPA (POWER PURCHASE AGREEMENTS)
KEY SUCCESS
FACTORS
• TRACK RECORD AS EPC PROVIDER ON
OVER 20 MW OF UTILITY SCALE PROJECTS
• OUR TEAM HAS THE ABILITY TO
UNDERSTAND COUNTRY OPPORTUNITIES
AND TO CONDUCT RISK ASSESSMENT
• TARGET OPTIMIZED ON LATE STAGE
PROJECT BACKLOG
• REVENUES BY SELECTED INVESTMENTS
WITH HIGH POWER CAPACITY
CUSTOMERS
AND INVESTORS
• DRIVE THE INCREASING DEMAND FROM
INSTITUTIONAL INVESTORS TO A NEW
ASSETS CLASS REPRESENTED BY
RENEWABLE ENERGY PLANTS
• FOCUS ON PARTNERSHIP WITH
DEVELOPERS AND END BUYERS (INVESTOR
FUND AND MAJOR UTILITIES) OF GRID
CONNECTED PLANTS
TERNIENERGIA IS READY TO START A NEW GROWTH STAGE
KEY INDUSTRY TRENDS
ACTION PLAN BREAKDOWN
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
8

9. IMPROVE ACCESS TO CAPITAL
TERNIENERGIA IS READY TO START A NEW GROWTH STAGE
KEY FINANCIAL SOLUTIONS
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
9
NFP UNDER CONTROL
CREATE VALUE
BY A NEW MODEL
OF ASSET MANAGEMENT
INVESTMENT FUND
ALLOWING ADDITIONAL
OPPORTUNITIES
THE INDUSTRIAL PLAN
SELF-FINANCING
THE CASH NEEDS

10. Contratto di
locazione
TERNIENERGIA
Property and Facility Manager
System Integrator
INVESTORS
10
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
10
TERNIENERGIA IS READY TO START A NEW GROWTH STAGE
STRATEGIC ASSET CLASS IN GROWING MARKETS
Rent rates
Lease plant
Shares
Advisory
TERNIENERGIA
EPC - BOT
Investment
Industrial
power plants

11. 64
74
87
68
60
52
1.06
0.81
0.60
-2,00
-1,50
-1,00
-0,50
0,00
0,50
1,00
0
20
40
60
80
100
120
140
160
2014 E 2015 E 2016 E
NFP/EQUITY (Mio €)
EQUITY NFP NFP/EQUITY
136
201
248
14.50% 14.50% 14.50%
-4,00%
1,00%
6,00%
11,00%
16,00%
21,00%
-
50
100
150
200
250
300
2014 E 2015 E 2016 E
REVENUES (Mio €) – EBITDA MARGIN (%)
REVENUES EBITDA MARGIN
8
15
20
0
5
10
15
20
25
2014 E 2015 E 2016 E
NET PROFIT (Mio €)
NET PROFIT
A SOLID PERSPECTIVE OF CAPITAL EFFICIENCY
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
11
TOTAL REVENUES: 585 Mio € TOTAL NET PROFIT: 43 Mio €
DIVIDENDS:
~ 50 % OF THE
CONSOLIDATED PROFIT
It is recommended that these forward looking statements are to be viewed as indicative only.

12. INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
DISCOVER
THE NEW
GREEN ERA
TERNIENERGIA
PAOLO RICCI
MANAGING DIRECTOR

13. • STRONG PV TECHNOLOGY PRICE DECREASE
• ELECTRICITY PRICE INCREASE
• NUMBER ONE ELECTRICITY SOURCE IN EU IN
TERMS OF NEWLY INSTALLED CAPACITY (2.6%
ELECTRICITY DEMAND – 5.2% PEAK
ELECTRICITY DEMAND)
WORLD WIDE PV INDUSTRY
STATE OF THE ART
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
13
PV TECHNOLOGY
MATURE MAINSTREAM
SOURCE OF ENERGY
102 GW CUMULATED
CAPACITY AS AT 2012
INSTALLED
2012 SUMMARY
• 31.1 GW INSTALLED (30.4 IN 2011)
• 17.2 GW GRID CONNECTED IN EUROPE (22.4 IN
2011)
• GERMANY IS THE MARKET LEADER WITH 7,6
GW FOLLOWED BY CHINA (5 GW), ITALY (3.4),
USA AND JAPAN

14. PV INDUSTRY EVOLUTION
A NEW WORLD MARKET ASSESSMENT*
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
14
SINCE 2012 THE EUROPEAN LEADING ROLE IN THE PV
POLICY DRIVEN MARKET IS COMING TO AN END
NEW PV EUROPEAN INSTALLATIONS DECREASED
(FROM 74% TO 55%)
2013 INSTALLATION GROWTH
OF PV WILL BE MOSTLY REALIZED OUTSIDE EUROPE
* ANNEXES: DETAILED DATA
PV MARKET IS BECOMING TRULY GLOBAL

15. FOCUS ON PV MARKET EUROPE VS WORLD
FORECAST UNTIL 2020
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
15
DRASTIC DECREASE OF
FEED IN TARIFF PROGRAMMES
UNCERTAIN FUTURE FOR THE
EUROPEAN PV MARKET
BASELINE SCENARIO* ESTIMATES
THAT 4% IN 2020 AND UP TO 10% IN
2030 OF THE ELECTRICITY DEMAND
WILL BE PROVIDED BY PV
YEAR 2012 SLOWED FIRST PV
MARKET DECLINE IN EUROPE SINCE
2000
* Source: EPIA
GROWTH POTENTIAL
OUTSIDE EUROPE
OPPORTUNITIES IN PPA, FIT AND
REPLACEMENT OF FOSSIL SOURCE
FAST GROWING MARKETS:
CHINA, INDIA, SOUTHEST ASIA, LATIN
AMERICA and MENA
POTENTIALITY:
60 TO 250 GW IN 2020
260 TO 1.100 GW IN 2030

16. FUTURE PROSPECTS FOR MARKET DEVELOPMENT
TWO SETS OF DRIVERS
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
16
* Source: EPIA
INVESTORS’ MOOD CAN RAPIDLY CHANGE
VERY VARIABLE DEVELOPMENT PANORAMA
ATTRACTIVENESS
OF THE COUNTRY
FOR INVESTORS
ATTRACTIVENESS
OF PV
FOR THE COUNTRY

17. BIOENERGY AND CIRCULAR INDUSTRY EVOLUTION
GROWTH OF ENERGY FROM MARGINAL RESOURCES
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
17
Source: SHELL
* Excluding traditional biomass
2020
6 GW
2020
16.000
2020
50 Mtoe
BIOGAS ENERGY
INSTALLED IN EU
BIOGAS ENERGY
PLANTS IN EU
TOE SAVED BY
BIOMASS WASTE IN EU
THE INDUSTRIAL SECTOR IS THE LARGEST BIOENERGY CONSUMER
IN 2010 AT 196 MTOE, INCREASING TO OVER 300 MTOE IN 2035
GROWING
AT AN AVERAGE RATE
OF 3.3% PER YEAR
DEMAND FOR BIOENERGY*
WILL BE MORE THAN DOUBLED
FROM 526 MTOE IN 2010 TO
NEARLY 1,200 MTOE BY 2035

18. INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
DISCOVER
THE NEW
GREEN ERA
TERNIENERGIA
FABRIZIO VENTURI
MANAGING DIRECTOR

19. TERNIENERGIA BUSINESS DIFFERENTIATION
EXECUTING THE NEW GREEN ERA 2016
WHY WE ARE READY
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
19
INDEPENDENT
POWER
PRODUCER
INTEGRATED
ENERGY
SOLUTIONS
ENVIRONMENTAL
RESOURCES
SOLUTIONS
LEADING EXPERIENCE IN RENEWABLE SECTOR
TARGETING GROWTH DEMAND SUPPORTED BY FINANCIAL DRIVER
BUSINESS AND TECHNOLOGY DIVERSIFICATION
Renewable energy production
by direct investments or with
primary co-investors.
Development and
construction (EPC or BOT) of
utility scale plants for
premium customers.
Energy efficiency activity
with third part financing
formula.
O&M activity.
Direct investments for
sustainable solutions to
recover energy and material
from marginal resources.

20. TERNIENERGIA COUNTRY DIFFERENTIATION
EXECUTING THE NEW GREEN ERA 2016
WHY WE ARE GOING GLOBAL
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
20
COUNTRY RISK DIVERSIFICATION
FLEXIBLE FOCUS ON MARKETS WHERE WE BELIEVE IT’S MORE PROFITABLE TO DEVELOP NEW PLANTS
BUSINESS CORE IN EMERGING COUNTRIES WITH STRONG GROWTH
IN ENERGY AND ENVIRONMENTAL DEMAND
LONDON POLAND
ROMANIA
GREECE
ITALY
RSA

21. TERNIENERGIA INDUSTRIAL ROADMAP
EXECUTING THE NEW GREEN ERA 2016
OUR ANSWERS TO OPTIMIZE THE VALUE CHAIN
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
21
STRENGHTHEN THE CORE ACTIVITY IN UTILITY SCALE PLANTS DEVELOPMENT
PORTFOLIO OPTIMIZATION TROUGH PROJECTS BACKLOG REPRESENTED BY RA FUND INVESTMENTS
PROJECT
DEVELOPMENT
EPC & BOT
POWER
GENERATION
SELECT AND PERMIT
INTERNATIONAL UTILITY
SCALE PROJECTS
DEVELOP PORTOFOLIO
OF NEW PLANTS MIX
TOWARDS FULLY
PERMITED PROJECTS
ADVISE NEW
INVESTMENT TO FUND
ADVISOR (POWER
CAPITAL) AND MANAGENT
COMPANY (PRELIOS SGR)
PROVIDE ENGINEERING
AND DETAIL DESIGN
PROCUREMENT OF
PROJECT MATERIALS
SECURE THE SUPPLY
CHAIN BY PROVIDING
MAJOR COMPONENTS
THROUGH GLOBAL
PURCHASING
CONSTRUCTION OF
PLANTS AND CONNECTION
TO THE GRID AND/OR SELL
MANAGE FULL OWNED OR
IN JV OWNED CONNECTED
PLANTS IN THE SOLAR OR
BIOMASS SECTOR (19 MW
TOT)
RECEIVE FEED IN TARIFF
OR INCENTIVES FOR
RENEWABLE POWER
PRODUCTION
SALE THE SOLAR POWER
TO LOCAL OR NATIONAL
GRID AUTHORITY OR TO
PREMIUM CUSTOMERS
FINANCING
NEW PROJECTS
& ASSET
CONTRIBUTION
OPERATION &
MANTEINANCE
ACHIEVE THE HIGHEST
LEVEL OF PERFORMANCE
AND RELIABILITY FROM
THE SOLAR ASSETS
PROVIDE A
COMPREHENSIVE SCHEME
FOR TECHNICAL
OPERATIONAL
MANAGEMENT
AUDIT ENERGY
PRODUCTION, MONITOR
REAL-TIME DATA, SUPPLY
IN-DEPTH PERFORMANCE
REPORTS
CLOSE RELATIONSHIPS
WITH INVESTMENT FUND
(RA- RENEWABLE ASSETS)
AND MAJOR FINANCIAL
INSTITUTIONS
CONTRIBUTE OPERATING
AND CONNECTED PLANTS
TO INVESTMENT FUND
(19,4 MW TOT) OBTAINING
IN COUNTERPART A SHARE
OF FUND

22. TERNIENERGIA INDUSTRIAL ROADMAP
EXECUTING THE NEW GREEN ERA 2016
FOCUS CORE ACTIVITIES IN GREEN INDUSTRY
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
22
EXCELLENCE
EASE OF
PROCUREMENT
INSTALLATION
RAPIDITY
MARKET
COMPETITIVE
BANKABILITY
HIGH RETURNS IN RELATION
TO RISK (IRR DOUBLE DIGIT)
HIGH QUALITY
DESIGN
CONSOLIDATED PV
INDUSTRY SUPPLY CHAIN
FAST EXECUTION OF
PROJECTS WORLD WIDE
ABILITY TO GENERATE
SCALE ECONOMIES
RELATIONSHIP AND TRACK
RECORD WITH MAJOR BANKS
STRONG ENGINEERING AND
INNOVATION SCOUTING

23. INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
DISCOVER
THE NEW
GREEN ERA
TERNIENERGIA
PAOLO ALLEGRETTI
CFO

24. 2014 E 2015 E 2016 E
IES FPM*+ERS+EE**+IPP CAGR
TERNIENERGIA FINANCIAL ROADMAP
FOCUS ON REVENUES (Mio €)
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
24
35%
* FUND PLANTS MANAGEMENT
** ENERGY EFFICIENCY
136
201
248
75.0%
71.0%
65.3%
25.0%
29.0%
34.7%
It is recommended that these forward looking statements are to be viewed as indicative only.

25. 14
23
30
3.76
6.74
11.23
2014 E 2015 E 2016 E
EBIT EBIT/NIC (NET INTEREST COST)
TERNIENERGIA FINANCIAL ROADMAP
FOCUS ON EBIT (Mio €)
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
25
It is recommended that these forward looking statements are to be viewed as indicative only.

26. TERNIENERGIA FINANCIAL ROADMAP
FOCUS ON NET WORKING CAPITAL (Mio €)
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
26
30.4 34.5
38.6
46.0
63.9 74.9
(30.0)
(46.2)
(61.5)
(3.4)
(9.7)
(10.1)
31.60%
21.20%
16.80%
2014 E 2015 E 2016 E
(100,0)
(50,0)
-
50,0
100,0
150,0
Inventories Trade Receibles Trade payables Other Assets / Liabilities NWC/Sales (%)
43
42.5
41.9
It is recommended that these forward looking statements are to be viewed as indicative only.

27. 68
60
52
1.06
0.81 0.60
-
0,20
0,40
0,60
0,80
1,00
1,20
-
10
20
30
40
50
60
70
80
2014 E 2015 E 2016 E
Net Financial Position NFP/EQUITY
TERNIENERGIA FINANCIAL ROADMAP
FOCUS ON CAPEX & NFP (Mio €)
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
27
TOTAL INVESTMENTS
IN THE PLAN PERIOD
16.5 Mio €
ESCO ACTIVITIES TPF
It is recommended that these forward looking statements are to be viewed as indicative only.
NET CASH FLOW (Mio €) 9 8 8

28. TERNIENERGIA FINANCIAL ROADMAP
FOCUS ON INDICATORS
INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
28
2014 E 2015 E 2016 E
NFP/EBITDA 3,44 2,07 1,45
NFP/EQUITY 1,06 0,81 0,60
EBIT/NET INTEREST COST 3,76 6,74 11,23
ROE 15,3% 24,7% 30,6%
ROI 10,9% 17,2% 21,5%
It is recommended that these forward looking statements are to be viewed as indicative only.

29. INDUSTRIAL PLAN
2013-2016 TARGETS UPDATE
OCTOBER 1, 2013 – LONDON, UK
29
TERNIENERGIA
FOR FURTHER INFORMATIONS
PAOLO ALLEGRETTI
CFO
HEAD OF INVESTOR RELATIONS
ALLEGRETTI@TERNIENERGIA.COM
+39 0744.7581
FEDERICO ZACAGLIONI
HEAD OF CORPORATE COMMUNICATION
PRESS OFFICE
ZACAGLIONI@TERNIENERGIA.COM
FILIPPO CALISTI
BUDGETING AND CONTROL MANAGER
CALISTI@TERNIENERGIA.COM
MICHELE LIZZIO
FINANCIAL CONTROLLER
LIZZIO@TERNIENERGIA.COM
FLORIANA VITALE
IR.TERNIENERGIA@IRTOP.COM
+39 02.45473883
TERNIENERGIA
IR TOP
CONTENTS BY
FEDERICO ZACAGLIONI
DESIGNED BY
CRISTIANO MANZONI
THANKS TO
http://icons8.com/
CREDITS