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Hera BoD approves results for 1H 2019

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Press releases
19/06/2024
Hera Spa
Price sensitive

Hera Group ranks first in the 2024 ESG Identity Corporate Index (formerly IGI)

<p><em>For the fourth consecutive year, the Group is on the podium of the overall index ranking, which rewards Italian companies that stand out for integrating ESG factors into their governance. This comes as further recognition of the Group’s commitment to creating long-term value for its shareholders and all its stakeholders</em></p>
Online since 19-06-2024 at 11:08
Press releases
11/06/2024
Hera Spa
M&A
Price sensitive

Inrete Distribuzione Energia acquires Soelia’s gas network

<p><em>The Hera Group, through its subsidiary operating in the natural gas distribution sector, strengthens its presence in the area served</em></p>
Online since 11-06-2024 at 11:57
Press releases
15/05/2024
Shareholders’ meeting
Price sensitive
Hera Spa

Publication of documents pertaining to the Shareholders Meeting

Online since 15-05-2024 at 10:35
Press releases
15/05/2024
Price sensitive
M&A
Hera Spa

Hera Group acquires Soelia’s gas network

Through its subsidiary Inrete Distribuzione Energia, the Group was awarded the tender for the gas distribution plants and network serving the municipality of Argenta in Ferrara area

Online since 15-05-2024 at 10:38
Press releases
14/05/2024
Price sensitive
Financial Results
Hera Spa

Hera Group BoD approves results for 1Q 2024

<p>The consolidated quarterly report at 31 March shows improvement in the main operating and financial indicators. The Group’s financial solidity and commitment to sustainability and the ecological transition were confirmed, along with the creation of value for all stakeholders and significant investments in the areas served to improve our assets resilience and to guarantee service quality and continuity</p>
Online since 14-05-2024 at 12:41
Press releases
30/04/2024
Shareholders’ meeting
Hera Spa
Price sensitive

Hera Shareholders Meeting: 2023 financial statements approved and dividend increased to 14 cents

The Group continues along its path of uninterrupted growth, closing 2023 with record performance in the main operating and financial indicators, thus constantly creating value for its stakeholders.

Online since 29-04-2024 at 12:53
Press releases
23/04/2024
Hera Spa
Other press releases

Hera Group at the top of ARERA’s water service quality ranking

The multiutility confirms itself among Italy’s most outstanding operators, securing the first and third positions, with reference to all macro-indicators, as proof of the very high standards adopted by the Group in this field. A commitment that the Hera fulfils with significant investments to ensure the highest quality and continuity of service to around 3.6 million citizens and an increasingly efficient and circular use of resources. Important results have been achieved, particularly in Emilia-Romagna.

08/04/2024
Other press releases
Hera Spa

Publication of the Draft Separate and Consolidated Financial Statements as of 31.12.2023, the Sustainability Report - Consolidated Non-Financial Statement, the Corporate Governance Report, and the Report on Remuneration and Compensation Paid

29/03/2024
Hera Spa
Other press releases

Rigid plastics recycling: one of Europe’s most innovative plants to be built in Modena

<p><em>Thanks to investments totalling approximately 50 million euro, the Hera Group will build a state-of-the-art facility within its own plant complex. Starting from plastic waste that has so far been difficult to recycle, it will produce high quality polymers with characteristics similar to those shown by virgin materials, thus making sectors such as consumer electronics and the automotive industry increasingly sustainable</em></p>
Press releases
27/03/2024
Shareholders’ meeting
Hera Spa

Publication of documents pertaining to the Shareholders Meeting to be held on 30 April 2024

Press releases
26/03/2024
Other press releases
Hera Spa
Price sensitive
Financial Results

Hera Group approves results as at 31/12/2023

<p><em>The year closed with main financial indicators rising and the targets included in the strategic Plan to 2026 exceeded three years ahead of schedule. The Group’s financial solidity and flexibility allowed it to continue along its path of industrial growth, increasing its investments and successfully grasping market opportunities, both internal and external, while continuing to generate value benefitting all stakeholders. The proposed dividend was raised, reaching 14 eurocents per share</em></p>
Online since 26-03-2024 at 12:47
Press releases
11/03/2024
Hera Spa
Other press releases

Green energy and a new urban forest: the Hera Group’s Energy Park arrives in Bologna

<p><em>Sustainability, decarbonisation, liveability and biodiversity protection are the keywords of this project, which will be developed in the northern part of the city and will contain a new urban park with facilities, complemented by areas dedicated to protecting animal and plant species, and an agrivoltaic field that will allow an annual saving of 6,000 tons of CO2.</em></p>
Press releases
04/03/2024
Shareholders’ meeting
Hera Spa
Other press releases

The passing of Hera S.p.A.'s Vice Chairman, Mr. Gabriele Giacobazzi

We hereby inform you that on March 3, 2024, the Vice Chaiman of the Board of Directors, Mr. Gabriele Giacobazzi, passed away.

Press releases
13/02/2024
Hera Spa
Other press releases

Hera Group among Europe’s leaders in sustainability and the fight against climate change

<p><em>The Group achieved the leadership band in the CDP questionnaire and was included among “TOP 1%” Multi and Water Utilities of the S&amp;P Global’s Sustainability Yearbook 2024. These recognitions prove Hera’s commitment to sustainable development and creating shared value for local areas.</em></p>
Press releases
06/02/2024
Hera Spa
Other press releases

Hera Group: over 1 million new electricity customers as of 1 July

<p><em>With the 7 lots awarded in the tender for the Gradual Protection Service for non-vulnerable household customers, the Hera Group consolidates its position as the sector’s third largest operator in Italy.</em></p>
Press releases
25/01/2024
M&A
Hera Spa
Other press releases

Hera Group expands in the industrial waste sector with TRS Ecology

<p><i><span lang="EN-GB" style="font-size:11.0pt"><span style="line-height:106%"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"></span></span></span></i>With the acquisition of 70% of the Piacenza-based company, the Group reinforces its leadership in the waste management sector. This transaction, at full capacity, is expected to contribute to growth in the Hera Group’s Ebitda with approximately 6 million euro.<i><span lang="EN-GB" style="font-size:11.0pt"><span style="line-height:106%"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> </span></span></span></i></p>
Press releases
24/01/2024
Price sensitive
Financial Results
Hera Spa
Other press releases

Hera Group presents Business Plan to 2027

<p><em>Development, resilience and creating shared value for stakeholders are at the heart of the Group’s new strategic document, which foresees investments totalling 4.4 billion to speed up the ecological transition and enhance asset resilience to climate change. The preliminary results for 2023 outperform the previous Plan’s goals that have been achieved three years ahead of schedule, thanks to the numerous development actions implemented and the Group’s ability to grasp market opportunities.</em></p>
Online since 24-01-2024 at 12:02
Press releases
22/01/2024
Shareholders’ meeting
Hera Spa
Other press releases
Price sensitive

Calendar of corporate events

Online since 22-01-2024 at 13:24
18/01/2024
Hera Spa
Other press releases

Hera Top Employer for the 15th Consecutive Year

<p><em>The company reaffirms, once again in 2024, its position among the best performers in human resources management, thanks to substantial investments in welfare, training, and skill development.</em></p>
Press releases
02/01/2024
Hera Spa
Other press releases

Hera Group has obtained the “Gender equality certification”

<p><em>A further confirmation of the importance of Hera’s achievements in terms of gender equality and inclusion</em></p>

Asset Publisher

30/07/2019
Hera BoD approves results for 1H 2019

A highly positive half-year, thanks to the organic growth achieved in all business areas. At the same time, intense activity in external development and an increase in the Group's set of plants will support further expansion as early as the second half-year, leading the targets included in the Business plan to be reached ahead of time.

Results for 1H 2019

Financial highlights

  • Revenues at 3,371.6 million euro (+13.6%)
  • Ebitda at 545.9 million euro (+4.3%)
  • Net profit at 173.9 million euro (+7.1%)
  • Net debt at 2,685.2 million euro 

Operating highlights

  • Excellent contribution from all business areas
  • Growth mainly internal, generally in free market activities
  • Further increase in energy customers, now above 2.6 million

Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the consolidated economic results at 30 June 2019, which confirm the multi-utility’s positive trend, with indicators rising in all business areas: gas, water cycle, waste management and electricity.

An excellent contribution came from internal growth, both in free market activities – which benefitted from an increase in energy customers, now 2.6 million, and from further expansion in waste treatment – and in regulated activities, above all the water sector. The first six months saw acquisitions including the company ATR in gas distribution and CMV Energia e Impianti’s energy sales activities, both operating in the Ferrara area and both acquired in March, as well as Cosea Ambiente, acquired in May with the concession of the Cosea Consorzio landfill, located in the Tuscan-Emilian Apennine area, assigned as of the second half of 2019. The effects of additional M&A transactions are expected to arrive in the second half of the year, along with constantly increasing waste treatment capacity, thanks to the new waste treatment plants coming from Pistoia Ambiente in Tuscany and Cordenons in Friuli-Venezia Giulia. Furthermore, work on formalising the definitive agreement with Ascopiave is ongoing, as set out in the binding Term Sheet signed on 17 June and respecting its timeline.

Overall, the half-year results confirm the Group’s winning strategy, based on a business model that balances regulated and free-market activities, and brings internal growth together with attention towards the opportunities in external growth offered by the market.

Revenues increase to almost 3.4 billion euro

In the first half of 2019, revenues came to 3,371.6 million euro, up 404.9 million (+13.6%) over the 2,966.7 million seen in the same period of 2018. This result was reached above all thanks to growth in revenues for trading and higher revenues and higher volumes in gas and electricity sales. The remaining growth was due to higher revenues in electricity generation and waste treatment.

Ebitda rises to 545.9 million euro

Ebitda settled at 545.9 million euro, increasing by 22.3 million (+4.3%) over the 523.6 million recorded at 30 June 2018. This result is particularly remarkable considering the 22 million euro drop in Ebitda coming from last resort markets, and the growth ensued from the good performances in all Group activities, in particular the water cycle and gas. Positive results also came from the electricity, waste management and other services areas, including public lighting.

Operating result and pre-tax profits show growth

Operating profits increased to 288.9 million euro, up 15.3 million (+5.6%) over the 273.6 million seen one year earlier. Financial operations came to 44.9 million euro, owing to lower non-recurring income and lower profits from affiliated companies and joint ventures, as well as the application of international accounting standard IFRS16 on operating leases. Pre-tax profit grew by 9.6 million (+4.1%), going from 234.4 million euro in the first half of 2018 to 244.0 million euro at 30 June 2019.

Net result rises to 173.9 million euro (+7.1%)

The net profit at 30 June 2019 rose to 173.9 million, with growth coming to 11.5 million (+7.1%) over the 162.4 million recorded at the same date one year earlier, without the non-recurring effects coming from the transfer of Medea to Italgas in April 2018. This result is due to factors including a further improvement in the tax rate, which went from 30.1% to 28.7%, thanks to the Group’s continuous commitment towards investing in assets moving towards technological and digital transformation and utility 4.0, which benefitted from “super and iper” amortisations, alongside additional incentives and tax credits. Profits pertaining to Group shareholders amounted to 166.2 million euro, with an 8.1 million (+5.1%) increase over the 158.1 million recorded in the first half of 2018.

Almost 215 million in investments, and financial position stable

In the first six months of 2019, the Group’s operating investments, including capital grants, amounted to 214.6 million euro, up 30.8 million (+16.8%) over the 183.8 million seen in June 2018, and mainly went to interventions on plants, networks and infrastructures, in addition to regulatory upgrading above all in gas distribution, with an intensive meter substitution, and the purification and sewerage areas.

The Group’s financial solidity is confirmed by the net debt/Ebitda ratio, which in the first half of 2019 settled at 2.55x, improving compared to both the 2.62x seen at 30 June 2018 and the 2.74x recorded at the same date in 2017. Further confirmation comes from the Roe and Roi indicators, which respectively came to 10.2% and 9.5%.

Net debt remained stable, thanks to a cash generation that entirely financed investments and the yearly dividend payment. Net debt closed at 2,685.2 million at 30 June 2019, up 100 million compared to the 2,585.6 million recorded at 31 December 2018, exclusively due to the new accounting standard IFRS16 on leasing contracts.

Gas

Ebitda for the gas area, which includes services in natural gas distribution and sales, district heating and heat management, reached 195.6 million euro in the first half of 2019, improving over the 188.4 million seen at 30 June 2018 (+3.8%). This growth is essentially due to higher volumes sold, due to increases in the scope of operations, and better results in default and last resort supply services. Customers, now totalling almost 1.5 million, rose by 4% over the first half of 2018, for reasons including the higher number of default and last resort supply tenders awarded, as well as the effectiveness of marketing programs.

The gas area accounted for 35.8% of Group Ebitda.

Water cycle

In the first half of 2019, the integrated water cycle area, which includes aqueduct, purification and sewerage services, recorded Ebitda amounting to 122.8 million euro, up 8.8% over the 112.8 million euro seen one year earlier, mainly owing to higher revenues from supply and new connections, as well as operating efficiencies. As was the case one year earlier, these results benefitted from the bonuses awarded by the Authority for high service standards.

The integrated water cycle accounted for 22.5% of Group Ebitda.

Waste

In the first half of 2019, Ebitdafor the waste management area, which includes waste collection, treatment and disposal services, settled at 126.3 million euro, in line (+0.3%) with the 125.9 million recorded at 30 June 2018. This result benefitted from the launch of the new Sant’Agata Bolognese (BO) biomethane production plant, fully operational as of October 2018; the expansion and full integration within the Group of Aliplast, a national and international leader in plastic recycling and regeneration according to the model of a circular economy; and the positive trend in prices for special waste treatment seen across all European markets. These positive growth factors more than offset the limited availability of some of the Group’s waste-to-energy plants, undergoing both regular and non-recurring maintenance, and the more general lack of landfills affecting Italy and other large European countries.

Sorted waste went from 59.8% in the first half of 2018 to 63.4% in the same period of 2019, up 3.6 percentage points.

The waste management area accounted for 23.1% of Group Ebitda.

Electricity

Ebitda for the electricity area, which includes services in electricity generation, distribution and sales, went from 84 million in the first half of 2018 to 86.3 million at 30 June 2019, rising by 2.8%. This result only partially reflects the higher revenues coming from electricity generation, secondary services and volumes sold compared to the previous year, which proved able to more than offset the lower revenues coming from the safeguarded market. A significant increase in customers, which now reach over 1.1 million, up 134.5 thousand (+13.3%) over 30 June 2018, thanks in particular to expansion in the free market and reinforced marketing initiatives, above all in Central Italy.

The electricity area accounted for 15.8% of Group Ebitda.

Significant transactions in the waste management area: the Cordenons and Serravalle Pistoiese plants

The waste management area saw important events recently, whose effects will be felt in the second half of the year. The Hera Group, the nation’s leader in the waste management sector with over 6 million tons of waste treated each year, thanks to investments totalling over 60 million euro has further enlarged its set of plants, which already includes around ninety structures nationwide. In particular, on 29 June a new plant was inaugurated in Cordenons (PN) for non-dangerous special waste treatment, and on 17 July Pistoia Ambiente was acquired, which manages the Serravalle Pistoiese (PT) landfill and the associated liquid waste treatment plant. Both are located in strategic positions that allow the Group to additionally reinforce its activities in industrial waste treatment and environmental services for businesses. These transactions, along with the fully operational status of the new Sant’Agata Bolognese biomethane production plant, built with investments coming to 37 million euro, provide a concrete response to the country’s overall lack of plants, which in many cases leads waste to be exported, causing increased costs especially for businesses. Furthermore, Hera can now rely on increased plant capacity in waste treatment (coming to an additional 2.4 million tons, considering the enlargement of the Ravenna landfill as well), which will allow it to continue pursuing its plans for expansion over the years in markets characterised by increasing demand and higher prices.  

Statement by Executive ChairmanTomaso Tommasi di Vignano

“These half-year results confirm the Hera Group’s trend of uninterrupted growth and fully respect its track record, thanks to organic growth and the numerous projects implemented in internal and external development. The increase in Ebitda, the profits gained and the attentive management of financial operations allowed the Group to fully cover both investments and annual dividend payments to our Shareholders, which rose to 10 cents per share (+5.3%). The further increase in waste treatment plants managed and the joint venture with Ascopiave in the energy sector, currently being formalised, will allow us to implement plans for growth as early as the second half of 2019 on the one hand, and on the other to expand in the Triveneto area, strategically important for a further development of the Group’s activities, already ensuring at present, after only 18 months, 60% of the growth in Ebitda foreseen within 2022 by the Business plan.”

Statement by CEO Stefano Venier

“The results for the first half of 2019 confirm the solid financial management that has allowed the Group to maintain stability in both debt and the net debt/Ebitda ratio, which now comes to 2.55x, providing evidence of its high financial flexibility. The debt profile has also improved, thanks to the placement, on 26 June, of our second green bond, amounting to 500 million euro, intended for projects in environmental sustainability. This has allowed us to grasp available M&A opportunities and confirm our leadership through further consolidation in the markets, still fragmentary, in which all of our businesses operate. One factor that cannot be overlooked, in continuing to pursue our strategy of growth, is the attention given to sustainability, which for us is a true business lever, and the principles underlying a circular economy, in order to continue creating shared value for all our stakeholders.”

The manager responsible for drafting the company’s accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries.

The half-year financial report and related materials will be made available to the public pursuant to the terms established by law at Company Headquarters, on the website www.gruppohera.it and on the authorised storage platform 1Info (www.1info.it).

Unaudited extracts from the Abbreviated Consolidated Half-Year Financial Statements at 30 June 2019 are attached.

Profit & Loss (m€) 30/06/2019 Inc.% 30/06/2018 Inc.% Ch. Ch. %
Sales 3.371,60   2.966,70   404,9 13,60%
Other operating revenues 249 7,40% 209,8 7,10% 39,2 18,70%
Raw material -1.699,20 -50,40% -1.327,60 -44,70% 371,6 28,00%
Services costs -1.075,10 -31,90% -1.031,60 -34,80% 43,5 4,20%
Other operating expenses -29,8 -0,90% -30,3 -1,00% -0,5 -1,70%
Personnel costs -286,6 -8,50% -281,7 -9,50% 4,9 1,70%
Capitalisations 16 0,50% 18,3 0,60% -2,3 -12,60%
Ebitda 545,9 16,20% 523,6 17,60% 22,3 4,30%
Depreciation and provisions -257 -7,60% -250 -8,40% 7 2,80%
Ebit 288,9 8,60% 273,6 9,20% 15,3 5,60%
Financial inc./(exp.) -44,9 -1,30% -39,2 -1,30% 5,7 14,50%
Pre tax profit 244 7,20% 234,4 7,90% 9,6 4,10%
Tax -70,1 -2,10% -72 -2,40% -1,9 -2,60%
Net profit 173,9 5,20% 162,4 5,50% 11,5 7,10%
Special items - 0,00% 4,8 0,20% -4,8 -100,00%
Net profit 173,9 5,20% 167,2 5,60% 6,7 4,00%
Attributable to:            
Shareholders of the Parent Company 166,2 4,90% 158,1 5,30% 8,1 5,10%
Minority shareholders 7,7 0,20% 9,1 0,30% -1,4 -15,40%

 

Balance Sheet (m€) 30/06/2019 Inc.% 31/12/2018 Inc.% Ch. Ch. %
Net fixed assets 6.064,10 109,80% 5.905,10 108,70% 159 2,70%
Working capital 59,8 1,10% 115,4 2,10% -55,6 -48,20%
(Provisions) -599,9 -10,90% -588,2 -10,80% -11,7 2,00%
Net invested capital 5.524,00 100,00% 5.432,30 100,00% 91,7 1,70%
Net equity 2.838,80 51,40% 2.846,70 52,40% -7,9 -0,30%
Long term net financial debt 2.754,30 49,90% 2.558,80 47,10% 195,5 7,60%
Short term net financial debt -69,1 -1,30% 26,8 0,50% -95,9 -357,80%
Net financial debts 2.685,20 48,60% 2.585,60 47,60% 99,6 3,90%
Net invested capital 5.524,00 100,00% 5.432,3 100,00% 91,7 1,70%
Online from 30 July 2019 at 13:31:53

Search Results

07/03/2016
Price sensitive
Financial Results

Hera Luce, € 21 million from the Cassa Depositi e Prestiti for investments in public lighting

2016-03-07 hera_luce.1469541514.jpg The deal will guarantee significant benefits for Municipalities served by Hera Luce, estimated at savings for at least 60% in costs for electricity consumed and similar reductions in CO2 emissions. Hera Luce: investments in public lighting Savings are soon to come for Municipalities served for public lighting by Hera Luce. The Hera Group company and the Cassa Depositi e Prestiti have in fact signed a long-term financing deal for approximately € 21 million, destined for energy efficiency investments in public lighting in these Municipalities. The financing consists in two credit lines: the first is intended for concessions that have already been signed, and the second is available for investments involved in new concessions that are expected to be signed within 2016. The two lines will expire respectively in December 2032 and December 2033. This initiative will allow Municipalities to benefit from significant savings, estimated at 60% of electricity consumption at least, and a similar percentage of CO2 emission reductions. The operation bears witness to the significance that energy efficiency has for Cassa Depositi e Prestiti, whose new Business Plan foresees constant attention towards initiatives in this sector in favour of Public Administrations. For the Hera Group, this project is part of a constant commitment towards energy efficiency and innovation across the entire area served. Today, Hera Luce is the second largest public lighting server in Italy. The company projects, creates, maintains and manages public lighting and traffic light facilities in roughly seventy Municipalities in the following regions: Emilia-Romagna, Marche, Umbria, Tuscany, Lombardy and Lazio, in which it manages approximately 300,000 lighting points. Hera Luce: energy efficiency investments in public lighting press_release.1457444770.pdf 2015-11-12 14:54:00 Herambiente acquires Waste Recycling
Press releases
23/02/2016
Sustainability
Hera Spa

Hera in first place for the website "careers" category

2016-02-23 campri_s1.1468598360.jpg This year once again, the research company Potential Park ranked Hera Group among the top ten companies in Italy which are "gaining" recent graduates looking for their first job using the internet. "This recognition is very pleasing because, for some time, Hera Group has been among the top companies in Italy making major investments in updating and in the personal and professional development of its employees also creating many opportunities for listing to employees, like meetings between top management and workers and the internal climate surveys. Human capital is our main resource with whom we wish to share the distinctive values of our corporate culture" commented Giancarlo Campri, Hera Group´s Director of Personnel and Organisation. "The use of various tools (website, LinkedIn page, networking with universities and business schools) to communicate and interact with potential candidates has helped us, in time, become one of the most attractive companies in Italy receiving over 13,000 curricula vitae per year". Giancarlo Campri Hera in first place for the website "careers" category 2019-07-02 sinistra 16:43:58 Hera in first place for the website "careers" category
Online dal 23/02/2016 alle ore 16:43
Press releases
19/02/2016
Sustainability
Hera Spa

Hera: "Un Pozzo di Scienza" (A Well of Science) is 10 years old and it is putting the brains of young people to work in order to change the world

2016-02-19 BLQ_COPERNICO_1_4745_s1.1468599028.jpg The "absolute" Top Utility award went to Marche Multiservizi, a subsidiary of the HERA Group operating in the province of Pesaro-Urbino. For its part, Hera was recognised for its excellent work in business training and human resources. The "absolute" Top Utility award went to Marche Multiservizi, a subsidiary of the HERA Group operating in the province of Pesaro-Urbino. For its part, Hera was recognised for its excellent work in business training and human resources. [block]div:row-fluid::db:hr_press_comunicazione::box:54[/block] These awards were announced on Thursday 28 January 2016 in Rome, during a convention entitled "The Transformation of Utility Companies in a Changing Italy". Marche Multiservizi, a HERA Group subsidiary and this year's "Top Utility", was recognised "for its ongoing commitment to achieving excellent performance throughout its corporate functions and local activities", according to the justification provided for the award. Marche Multiservizi is the leading multi-utility company in the Marche region based on turnover as well as business size and the top merger on a regional level among companies operating in the local public services sector. Hera, which over the years has been recognised as the best utility company and has also received a variety of other rewards in other categories, was ranked first in educational, training and human resources activities this year. In 2015, HERA Group provided a total of approximately 262,000 hours of training, meaning at least 31.4 hours per capita, involving 99% of its staff (including employees in the Triveneto of AcegasApsAmga and in Marche). These figures place Hera at the very top national positions, given that, according to the Top Utility report, the national average is 14.2 hours per worker with an involvement of 76%. Indeed, for the multi-utility company, human capital is considered to be the main resource for sharing the distinctive values of the corporate culture and training plays a fundamental role as an indispensable factor for the evolution and professional development of people and, therefore, for the global growth of business value. To this end, 2011 saw the creation of HerAcademy, the Group's Corporate University, with the aim of further developing excellent skills and behaviours. The corporate university involves all 8,500 employees, from new recruits to managers and operational staff, in a range of training courses, with internal resources accounting for around 40% of the trainers. Lastly, the Group has defined a systematic strategy for working with the education system - Hera Educational - by developing a model for the management of work-study programmes (starting in the coming weeks with 180 work-study programmes and summer internships in 3 years) and launching the "Hera teaches you a vocation" initiative based on the co-design and offer of academic courses at technical institutions in the communities we serve. 'Un Pozzo di Scienza' compie 10 anni e mette al lavoro i cervelli 2019-07-02 14:27:14 'Un Pozzo di Scienza' compie 10 anni e mette al lavoro i cervelli
Online dal 19/02/2016 alle ore 14:27
Press releases
28/01/2016
Sustainability
Hera Spa

Hera and Marche Multiservizi: two awards, one single Group

2016-01-28 The "absolute" Top Utility award went to Marche Multiservizi, a subsidiary of the HERA Group operating in the province of Pesaro-Urbino. For its part, Hera was recognised for its excellent work in business training and human resources. The "absolute" Top Utility award went to Marche Multiservizi, a subsidiary of the HERA Group operating in the province of Pesaro-Urbino. For its part, Hera was recognised for its excellent work in business training and human resources. [block]div:row-fluid::db:hr_press_comunicazione::box:54[/block] These awards were announced on Thursday 28 January 2016 in Rome, during a convention entitled "The Transformation of Utility Companies in a Changing Italy". Marche Multiservizi, a HERA Group subsidiary and this year's "Top Utility", was recognised "for its ongoing commitment to achieving excellent performance throughout its corporate functions and local activities", according to the justification provided for the award. Marche Multiservizi is the leading multi-utility company in the Marche region based on turnover as well as business size and the top merger on a regional level among companies operating in the local public services sector. Hera, which over the years has been recognised as the best utility company and has also received a variety of other rewards in other categories, was ranked first in educational, training and human resources activities this year. In 2015, HERA Group provided a total of approximately 262,000 hours of training, meaning at least 31.4 hours per capita, involving 99% of its staff (including employees in the Triveneto of AcegasApsAmga and in Marche). These figures place Hera at the very top national positions, given that, according to the Top Utility report, the national average is 14.2 hours per worker with an involvement of 76%. Indeed, for the multi-utility company, human capital is considered to be the main resource for sharing the distinctive values of the corporate culture and training plays a fundamental role as an indispensable factor for the evolution and professional development of people and, therefore, for the global growth of business value. To this end, 2011 saw the creation of HerAcademy, the Group's Corporate University, with the aim of further developing excellent skills and behaviours. The corporate university involves all 8,500 employees, from new recruits to managers and operational staff, in a range of training courses, with internal resources accounting for around 40% of the trainers. Lastly, the Group has defined a systematic strategy for working with the education system - Hera Educational - by developing a model for the management of work-study programmes (starting in the coming weeks with 180 work-study programmes and summer internships in 3 years) and launching the "Hera teaches you a vocation" initiative based on the co-design and offer of academic courses at technical institutions in the communities we serve. 2019-07-02 14:13:03 Dalle Marche al Nord Est, il Gruppo Hera è al 'Top'
Online dal 28/01/2016 alle ore 14:13
26/01/2016
Price sensitive
Financial Results

Calendar of events

2016-01-26 sede_HERA.1469540900.jpg Calendar of events CALENDAR OF EVENTS (*) We here by communicate, in accordance with art. 2.6.2. (Required reporting) of the "Rules of the markets organized and managed by Borsa Italiana S.p.A.", our annual calendar of corporate events: 22 March 2016 - Meeting of the Board of Directors to approve the financial statement draft for the previous fiscal year. 28 April 2016 - General Shareholders Meeting to approve the financial statements for the previous fiscal year. 11 May 2016 - Meeting of the Board of Directors to approve the financial report for the quarter ending 31 March 2016. 28 July 2016 - Meeting of the Board of Directors to approve the financial report for the six months ending 30 June 2016. 9 November 2016 - Meeting of the Board of Directors to approve the financial report for the nine months ending 30 September 2016. (*) subject to changes Annual calendar of corporate events Our annual calendar of corporate events press_release_Hera_20160126.1453739507.pdf 2016-01-25 11:05:00 Calendar of events
11/01/2016
Price sensitive
M&A

Hera Group Approves Business Plan to 2019

2016-01-11 bp to 2019 eng.png A Plan once again envisaging growth, aimed at a 2019 EBITDA of over € 1 billion. Development to be based on a balanced mixture of internal growth and M&A, including the benefits expected from gas tenders, in line with the Group's track record. Hera Group Approves Business Plan to 2019 https://eng.gruppohera.it/documents/1514726/4210782/GruppoHera_PI_15_19.1452518218.pdf/ca55eb69-caf4-0c7c-fda4-e8c284b91ccd?t=1597911786099 https://eng.gruppohera.it/documents/1514726/4210782/ANALYST_presentation_bp_to_2019.1452518644.pdf/83fa3cc5-4f9d-744c-aebe-62f9acbfd3b3?t=1597911786585 https://eng.gruppohera.it/documents/1514726/4210782/Hera_numero_straordinario_ENG.1452518583.pdf/a8851db5-76da-edc0-baa0-94a269d96131?t=1597911787492 null Press release Analyst Presentation Business Plan to 2019 Newsletter Business Plan to 2019 null Higher operating and financial objectives, in spite of an ever more challenging scenario This morning the Hera Group's Board of Directors approved its Business Plan to 2019. A Plan oriented towards growth, thanks to the solid positioning of the Group - whose activities are concentrated in areas it has uninterruptedly covered since it was established - aimed at creating value within its current operating area and making the most of future prospectives for sector consolidation. The strategies that have guided the Group until present have been reconfirmed, with a focus above all on expansion and efficiency, as a response to today's challenging scenario, without neglecting the cornerstones of innovation and excellence. From an operating and financial point of view, for 2019 the Plan foresees a total revenue of over € 5.8 billion compared to € 4.7 billion in 2014, an EBITDA of € 1,030 million against the € 868 million recorded in 2014. The ratio of net debt to EBITDA, which is already among the best in the industry, is expected to decrease to 2.9x (vs. 3.04x in 2014), confirming the Group's sustainable growth in terms of financial strength, with an increase in cash flow. Moreover, the Business Plan to 2019 confirms that one of the strategic elements at the root of Hera's business model is sustainability, in all its aspects: environmental, social and economic. The strictly economic objectives are flanked by targets such as reduced environmental impact, greater attention towards energy efficiency and a continual improvement of customer service, fully aware of the important role played by the company across its operating area. A context marked by regulatory, economic and competitive complexities The Plan to 2019 has been elaborated with an eye to a more complex scenario than the one envisaged in the previous strategic document. The most notable new factor that creates challenges for utilities consists in the new regulations concerning return on invested capital in regulated services, which will have a significant impact on operators' revenues. Furthermore, on a macro-economic level, Italy's economic upturn still appears to be weak, while the level of competition is rising in all businesses, including regulated ones; indeed, during the period covered by the Plan, both gas distribution and urban hygiene services will be put to tender. Lastly, regulatory changes are also expected, having been repeatedly called for by national institutions, and alongside competition in tenders they will lead to a progressive consolidation among the operators active in Local Public Services, in such a way as to increase the overall efficiency of these sectors. Over 1 billion of EBITDA in 2019: focus on efficiency improvement, synergies and external growth The Business Plan includes two tools that will be used to reach the objective of € 1,030 million of EBITDA in 2019, with an increase of € 162 million compared to 2014: internal growth and M&A. These tools are both part of the Group's history, having contributed constantly over the years to developing a growth model that has been confirmed in the Plan and thus represents an important factor of continuity in the strategy pursued until present. As regards organic growth in particular, on the one hand initiatives will be taken to increase efficiency and curb internal and external costs for € 72 million, taking advantage among other things of partnerships with the Group's suppliers. On the other, plans have been made to extract a further € 21 million in synergies from integration operations that have already been concluded (AcegasAps, Isontina Reti Gas, Est Reti Elettriche and Amga Udine), to be added to the € 15 million already reached in 2014. This will allow further improvement in the high level of Ebitda per employee, which is expected to go up over the next five years by approximately 6% compared to 2014. Thanks to these results, Hera will be able to withstand and more than compensate for the impact expected over the period covered by the Plan of regulatory changes, among which lesser incentives for roughly € 30 million, and the negative effect - estimated at roughly € 25 million - of the new return on capital in regulated services (WACC) recently revised by the Authority. As regards growth by M&As, four mid-sized consolidations are expected to be completed within the period covered by the Plan, with an overall contribution of over € 110 million to EBITDA growth in 2019. This objective is in line with the average results achieved in the M&A operations successfully completed since the Group's establishment. External growth will be further enhanced, by an estimated € 14 million, by the confirmation of the Group as manager of gas distribution services in its own reference areas, thus being able to benefit from the application of its own efficiency and service quality standards to new networks. Capital expenditures for over € 2 billion In the 2015-2019 period, total capital expenditures will amount to approximately € 2,200 million, predominantly (72%) allocated to networks, which also includes over € 300 million to be used for gas tenders. An even distribution of investments over the geographical areas served will once again be guaranteed, according to their size and their specific requirements as to modernisation and optimisation. Excluding gas tenders, over the period covered by the Plan the Group expects to reach an overall balance between capital expenditures and depreciations, in order to maintain the operating and financial sustainability that has already been reached in recent years. Networks: the challenges presented by gas tenders and the pursuit of efficiency Approximately 40% of the growth foreseen through 2019 will be due to the results achieved in the network sector, which includes integrated water services and gas and electricity distribution services, and whose EBITDA at 2019 is expected to rise to € 483 million, compared to € 416 million in 2014. Over the period covered by the Plan, overall investments in infrastructures are foreseen for € 1,610 million, including the effects of gas distribution tenders. The objective of confirming service management in all areas currently covered will be pursued by relying on the Group's highly compact presence in the areas served, its deep knowledge and the experience it has gained over the years, the high levels of efficiency already reached and its notable investment capability. Confirmation of current concessions will be expressed as a variation in the Group's operating area that can be estimated at 260,000 extra re-delivery points to be served. Thanks to gas tenders, it is estimated that the value of the distribution networks managed by Hera (RAB) will go from roughly 3 billion in 2014 to 3.5 billion in 2019. In order to reach the EBITDA objectives, attention to efficiency is once again considered to be essential, in particular in the supply network, where scale economies can be further pursued, synergies extracted thanks to geographical proximity, and innovated technologies implemented (e.g. electronic gas metres, remote management of the water network, smart grid in electricity distribution), allowing the Group to compensate for the negative impact of the recent reformulation of tariff systems. Environment: growth increasingly oriented towards recovering materials and energy The Hera Group is a national leader in the environment sector and expects this position to be further reinforced over the period covered by the Plan, thanks among other things to better market conditions, as recorded over 2015, which saw a trend towards recovery in prices and demand. Sector EBITDA is expected to grow from 242 million in 2014 to 302 in 2019, while overall investments in the period in question will amount to roughly 460 million and will be dedicated to sustaining the development of existing plants, in order to face the rise expected in market volumes, with treatments ever more oriented towards recycling and greater environmental sustainability. This framework also includes the objectives of bringing sorted waste to 65% in 2019 (from 54% in 2014) and decreasing to below 10% the use of landfills for solid urban waste, in line with EU legislation on landfill diversion, and in any case well under the national average. The plants will be progressively rationalised, maximising their yield and above all aligning the range of plant types with the evolution of sorted waste and objectives concerning the recovery of materials and energy in the areas served. Furthermore, authorisation has recently been obtained for the construction and management of the Sesto Fiorentino waste to energy plant. A great degree of attention will be dedicated, lastly, to developing commercial activities, with the objective of increasing the volumes of waste treated through a stronger presence in the market of industrial clients. The Group will be able to pursue this strategy thanks among other things to the recent acquisitions of Geo Nova and Waste Recycling, that offer solid coverage in the Tuscany and the Triveneto region markets. In terms of waste collection, the Group aims to reconfirm its services in those areas of Emilia Romagna in which tenders are expected to be held during the years covered by the plan. This will be possible thanks to the substantial efficiency and automation projects that the Group has already set into place and that will contribute to combining cost-effectiveness for citizens with a progressive increase in sorted waste and a higher quality of the services provided. Energy: customer base development and efficiency, to overcome the challenges of competition In a context that foresees a slight recovery in demand for both gas and electricity, this sector's EBITDA at 2019 will settle at 214 million, up 188 million compared to 2014, while total capital expenditures for the period will amount to roughly 80 million. Protection of the current customer base, growth into new geographical areas and cost-curbing remain the essential elements of the strategy adopted in this segment. Greater efficiency in customer management, which will allow costs per unit to be reduced, is also fundamental in increasing competitiveness. The Group will also dedicate its attention to the expectations of a smarter customer base, more attentive to the issues involved in energy efficiency, introducing innovative commercial offers that are able to meet the new demands of the retail market. Today, the Group is a primary operator in gas and electricity sales in Italy, with over two million customers, and aims at reaching over 2.3 million contracts in 2019. Tomaso Tommasi di Vignano, Executive Chairman of Hera "The recently approved Plan is fully in line with our tradition of growth, which has allowed us to consolidate competitive advantages on which we will rely while facing the challenges and the higher level of competition, expected in coming years, in all business areas found in our portfolio. This strategy is aimed at creating internal growth by pursuing greater efficiency and market expansion, in addition to taking advantage of our "open" governance model to achieve further sector consolidation. The growth envisaged will imply a cash flow sufficient to cover all expected capital expenditures and a continuation of our policy of dividends with an annual return of approximately 3.6% (based on current stock exchange values), and will guarantee room for further expansion through M&A with mono-business companies, as was recently seen with the acquisitions of Geo Nova and Waste Recycling in the sector of waste treatment." Stefano Venier, Chief Executive Officer of Hera "Our Plan has been designed, respecting the financial balance that has characterised our Group until now, with the dual objective of reinforcing our credit standing by maintaining a conservative risk profile, and creating ever greater value for all our stakeholders, from investors to customers, by further improving service quality, as well as suppliers, by creating partnerships. In addition to reconfirming all aspects of sustainability, from environmental to social and economic stand points, as the underlying strategic element of our business model, we will pursue new challenges in terms of innovation and excellence, to reconfirm our current concessions in regulated services and continue expanding in liberalised markets." 2016-01-11 14:55:31 Il Gruppo Hera approva il Piano industriale al 2019

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Group Director of Communication And External Relations

Giuseppe Gagliano

Director

 

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Telephone: +39 051 287111

HERA SPA

Viale Carlo Berti Pichat nr. 2/4 - 40127

 

Bologna

Contacts

Telephone: +39 051 287111

HERA SPA

Viale Carlo Berti Pichat nr. 2/4 - 40127

 

Bologna

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Interactive financial statements and sustainability reports
The consolidated economic results at 31 December 2023 and the 2023 sustainability report were approved by the Board of Directors of the Hera Group on 26 March 2024

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Hera SpA, Viale Carlo Berti Pichat 2/4, 40127 Bologna, Tel.051287111 www.gruppohera.it