Glossary

IR & Governance

Corporate Governance

A set of tools, rules, and mechanisms aimed at achieving the highest effectiveness in a company's decision-making process, in the interest of all those involved in the company life.  

Sustainability

Corporate governance

The processes, policies, habitual practices, laws and institutions which influence the manner in which a company is managed and controlled. Corporate Governance also covers the relations between the various players involved (stakeholders, those who have a vested interest of any type in the company).

IR & Governance

Coupon

A certificate attached to a bearer security, which enables the bearer ro receive due interests (for bonds) or dividends (for shares), and entitles the bearer to exercise (in the case of shares) their own administrative and economic rights. 

Sustainability

CSR

Corporate Social Responsibility is the set of social, environmental and economic responsibilities that the company must take on to meet the legitimate expectations of its stakeholders.

IR & Governance

Dividend

A dividend is a portion of profits given by a company to its shareholders at the end of each fiscal year as a remuneration of their capital investment.  

IR & Governance

EBITDA

EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) indicates a company's current profitability.  It is calculated by subtracting expenses from income, besides interests, taxes, amortisation and depreciation.   

Energy

Electricity market

A virtual meeting place between electricity supply and demand. Exchanges can be made via bilateral contracts or in an organised fashion on the electricity exchange.

Energy

Electricity stock exchange (IPEX)

The “electricity stock exchange” (actually IPEX, the Italian Power Exchange) is a system for bulk exchange of established quantities of electricity, based on an auction mechanism and on the definition of input and withdrawal programmes for the National transmission grid. The programmes and electricity quantities exchanged are regulated on the basis of a free system of demand and supply, subject to verification of their compliance with grid restrictions by Terna. IPEX is made up of the Energy market and the Despatching Service Market.

Energy

Energy efficiency

Energy efficiency involves promoting all behaviours, working methods and production techniques that consume less energy for the same rate of production.

IR & Governance

EPS (Earnings per Share)

Earnings per Share (EPS) is the portion of a company's profit allocated to each outstanding ordinary share.

Earnings per Share (EPS) indicates how profitable shares are, by calculating the ratio between net profit available for shareholders and the number of issued shares.