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Business model

Hera presents a multi utility business model, supplied to around 3.8 million customers.

Waste: urban waste collection and urban/special waste process and management
Network: distribution of water, gas, electricity and central heating
Energy: sell and trading of gas and Energyelectricity, electric generation

Waste Italian leader

92 new and efficient plants. Full integration of value chain. Unique expertise in Italy, both in building and managing plants, great attention to sustainability and circular economy.



Network  2° Water player in Italy - 3° Gas distributor in Italy

District heating and electricity distribution through over 60,000 km network, controlled by a remote centralized station, equipped with the latest technology.



Energy 4th gas supplier in Italy with 2.3 million gas and electricity customers

Short and flexible upstream position


Strengths are mainly related to a high portion of regulated activities (stable and visible cash flows) and to a wide and diversified customer base on which cross selling activities can be implemented. Customers are concentrated in the wealthiest areas of the country (Emilia Romagna, Northern part of Marche and Abruzzo) where the Group plays a well defensible leader role in the liberalized activities.

The foundation of Hera success equity story is an effective business model, leading the company to a   continuous creation of shared value.

The uninterrupted growth comes as a result of the organic growth, the high synergy potentials, the careful cash generation and from the M&A carried out since its establishment.

Hera has exploited synergies by managing similar businesses at once and merging comparable companies in surrounding areas. Cost reductions achieved (procurement cost, cost to serve, economies of scale, maintenance of networks) are only some examples of synergies of such a business mix.

Hera geographic breakdown as at 31 December 2017

Hera nationwide as at 31 December 2017

Hera Multi-business portfolio highlight low risk profile (main contribution comes from regulated businesses), good visibility on future cash generation and stable/growing dividends.


Page updated 28 March 2018

2017 Economic results - Comments of the President
Risultati economici 2017 - Il commento del Presidente del Gruppo Hera
2017 SR: Shared value
Valore condiviso al centro del bilancio di sostenibilità 2017
Sustainability in Hera
Un'Hera che scorre da 15 anni