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25/03/2026
Hera Group approves results at 31/12/2025

The year closed with a 4% increase in net profit attributable to shareholders and a 20% rise in investments. Value creation for all stakeholders and a solid capital structure once again confirm the Group’s ability to combine business growth with sustainable development. The proposed dividend increases to 16 euro cents per share, up 6.7%

Economic and financial highlights

  • Revenues at €12,812.2 million (-0.6%)
  • EBITDA at €1,537.2 million (-3.2%)
  • Net profit attributable to shareholders at €464.3 million (+3.9% on a like-for-like basis compared with FY2024, which benefited from extraordinary items of €47.8 million)
  • Gross operating investments of €1,028 million (+19.5%)
  • Net financial debt slightly down to €3,944.4 million, with net debt/EBITDA at 2.57x
  • ROI at 9.6% and ROE at 11.6%
  • Proposed dividend increased to 16 euro cents per share (+6.7%)

Business highlights

  • Around 4.4 million energy customers, with over 7.5 million citizens receiving at least one service from the Group
  • Innovative initiatives continued to support the communities served in the ecological transition and strengthen the resilience of managed assets, in line with the Business Plan and the Net Zero target by 2050
  • Shared-value EBITDA rose to €915.6 million (+7%), while shared-value investments amounted to €810.9 million (78% of total investments). 64% of investments are aligned with the European Taxonomy.
  • Economic added value distributed across the areas served exceeded €2.1 billion


The Board of Directors of the Hera Group, chaired by Executive Chairman Cristian Fabbri, unanimously approved the Annual Financial Report as at 31 December 2025, including the Sustainability Reporting pursuant to Directive (EU) 2022/2464 (CSRD), containing the information necessary to understand the company’s impact on sustainability matters and how those matters affect its performance and results. In 2025, the Hera Group continued along its path of industrial growth, with investments up by almost 20%, increasing across all businesses and particularly in the environment and integrated water cycle areas. The Group’s commitment to combining business growth and sustainable development, fully in line with the strategic pillars set out in the Business Plan, was confirmed. The economic and balance sheet results in fact highlight the value creation capability underpinning the Group’s growth.
 

Cristian Fabbri, Executive Chairman of Hera Group:

“The positive results achieved in 2025 bring to a close the three-year term of office of the Board of Directors, a period marked by strong geopolitical instability and extreme weather events, which also had an impact on the businesses we manage. Despite this context, we accelerated industrial growth by investing almost €3 billion, 43% more than in the previous three-year period, improving the resilience of our assets and our contribution to environmental sustainability. We achieved significant results, confirming the validity of the direction taken by our Group and demonstrating that business growth, value creation and sustainable development can go hand in hand. Over these three years, EBITDA has grown by almost 20%, while net profit attributable to shareholders has grown continuously, up 44% overall. The cash flows generated enabled us to reduce debt and improve financial leverage. Total Shareholder Return increased overall by 77%, supported by 27% growth in dividends. At the same time, the economic value distributed to our stakeholders also increased significantly, exceeding €2.1 billion in 2025. In light of the positive results achieved and the financial strength of our Group, we will propose to the Shareholders’ Meeting the distribution of a dividend of 16 euro cents per share, up 6.7% on the last dividend paid. This increase will feed through to our dividend policy over the coming years, up to a dividend of 19 euro cents in 2029, as set out in our Business Plan.”

 

Orazio Iacono, CEO of the Hera Group:

"In 2025, against a complex macroeconomic backdrop, the Hera Group continued along its industrial development path, increasing investments by 20% to €1.028 billion, the highest level in Hera’s history. These investments were fully self-financed thanks to the significant cash generation achieved during the year and provide a solid foundation for the future development of our Group. At EBITDA level, which reached €1.537 billion, 2025 demonstrated our ability to turn the extraordinary opportunities of previous years into structural and sustainable growth. Net finance costs decreased compared with the previous year, confirming our ongoing commitment to the efficient rationalisation of financial resources. Accordingly, in 2025 as well, the Hera Group confirmed its ability to create value, reporting net profit attributable to shareholders of €464.3 million (+3.9%). In summary, the year closed on a positive note, with a further strengthening of our financial and economic solidity, as evidenced by a net debt/EBITDA ratio of 2.57x, which provides us with significant financial flexibility to pursue effectively the objectives set out in the Business Plan. A recent example is the acquisition of the Sostelia Group, a company with more than 1,200 customers, which positions us as a leader also in the market segment for the treatment of civil and industrial wastewater, further expanding our range of services in support of Italy’s industrial fabric".



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Hera Group approves Business Plan to 2024

13/01/2021
Hera Group approves Business Plan to 2024
Business plan to 2024

Tomaso Tommasi di Vignano, Hera Executive Chairman

The reference scenario for the upcoming five years shows challenges and opportunities, which Hera has proven able to grasp in advance, by basing its strategy and its own approach to sustainability on them, well in advance. Today, with the new Business Plan, we can capitalise on the efforts made until present and increase our targets for growth to 2024. To support our goals, we have drawn up a significant investment plan which will expand our assets, at the same time making them increasingly sustainable, in line with the indications coming from international institutions. We have furthermore confirmed all of our operating-financial policies, most importantly maintaining a conservative asset profile, allowing us to finance potential investments not included in the Plan. 

 

Stefano Venier, Hera CEO

Hera has always managed its activities through a sustainable approach, integrated into its business strategies. Therefore, with our new Business Plan we can promote further development, with projects dedicated to circularity, carbon neutrality and technological innovation, fully respecting the guidelines introduced by the Authority and benefiting from our past actions, in areas including premiums for service quality. We furthermore wish to report to our stakeholders, with the utmost transparency, on the Group’s commitment towards sustainability, already applying the TCFD’s recommendations to the 2020 financial year. Our future path is very clear and presents no few challenges, so much so that we have already given ourselves targets for 2030, aiming to achieve increasingly ambitious goals in sustainability.

A new Plan for development and growth

Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, approved the Business Plan to 2024. This new five-year strategic document reflects Hera’s renewed commitment towards development and growth, with expectations increased compared to the previous Plan, and actions planned in areas including energy transition and environmental protection, technological evolution and social cohesion.
The Group’s strategies for industrial and commercial reinforcement have been set out according to sustainable business models, channelling opportunities coming from innovation and digital technology, and promoting the creation of shared value for all stakeholders. Hera furthermore intends to support local communities in a recovery compliant to European strategies and the goals on the UN’s 2030 Agenda.
Supported by the positive preliminary results for 2020, Hera will thus proceed along the path of uninterrupted growth it has followed since its establishment in 2002, with the aim of consolidating its leadership in all main business areas. All of this thanks to the strength of a model that over the years has proven to be winning and resilient and offers, still today, a concrete guarantee of additional future development

A solid foundation in the preliminary results for 2020

The Business Plan to 2024 is based on the solid fundamentals seen in the year-end projections for 2020: the preliminary results, indeed, confirm growth in the main indicators over the previous year. Ebitda is expected to have reached 1,118 million euro in 2020, increasing compared to the 1,085 million seen in 2019, while the Net debt/Ebitda ratio shows considerable improvement, settling at 2.9x, as against 3.02x at 31 December 2019. Last year, furthermore, Hera made investments coming to roughly 540 million euro, essentially unchanged with respect to 2019. In 2020, Hera thus overcame the difficulties caused by the pandemic and guaranteed continuity, efficiency and quality in the services provided, as well as offering concrete support to all stakeholders, first and foremost customers, suppliers and employees.

The framework of the new Plan: resilience, green transition and digital technology, for recovery

To respond to the complex scenario seen in 2020 and limit the impact of the crisis, the European Union has projected a series of extraordinary measures – including the “Next Generation EU” program – with funding going in particular to the green transition and digital technology. Alongside these measures, mention must go to the opportunities found in our country’s particular situation, which shows room for consolidation in markets that remain overly fragmentary, tenders for service concession renewal, and a further liberalisation of electricity sales with the end of the protected customer system.

Three focal points of the Business Plan to 2024: the environment, socio-economic factors and innovation

The Hera Group has enhanced its strategy, following European directives while at the same time maintaining its coherence towards the 2030 Agenda, which for years has guided the Group’s commitment towards sustainable development.
More specifically, the new Plan revolves around three strategic focal points – the environment, socio-economic factors and innovation – according to which all of Hera’s projects will take shape. The environmental focal points include promoting a circular economy by recovering, reusing and regenerating resources, interventions aimed at increasing infrastructural resilience so as to prevent and mitigate risks. More generally, this area also includes all actions aimed at countering climate change – an area in which Hera has been a leading figure for some time – in order to reach carbon neutrality, promoting bioenergies/green gas – such as biomethane, hydrogen and green syngas – and energy efficiency. Contributing to decarbonisation and saving resources will also come about through a drop in consumption within the Group itself: by 2024, energy consumption is expected to fall by 7% (compared to 2013) and internal water consumption by 17% (compared to 2017). The socio-economic factors, instead, involve creating “shared value” for stakeholders and the areas served, making the most of the Group’s physical and commercial assets, with new services having added value for customers, collaborations with external partners and projects for listening to local and social needs, as well as finalising integration transactions or tenders for regulated service assignments. Innovation, lastly, covers the opportunities linked to technological evolution, digitalisation, artificial intelligence and data analysis, to increase efficiency and service quality, with increasingly agile employment solutions, while maintaining the correct balance between people and technology.

Investments coming to approximately 3.2 billion euro, up thanks to the Group’s financial solidity

The Plan to 2024 calls for increased investments, coming to roughly 3.2 billion euro, 640 million per year on average: these figures are significantly higher (by approximately +40%) than the average seen over the last five years. In particular, an increase is expected in internal development, coming to 2.9 billion, 400 million more than in the previous Plan, with a financial commitment proportionate to Hera’s presence in the areas served and the features of the various business areas. 280 million will go to M&A operations and tenders for regulated services, with a slight drop compared to the previous Plan due to delays in a few gas tenders, partially offset by higher amount dedicated to external investments.
More generally, 60% of these investments will be dedicated to projects respecting European objectives. 42% will go towards activities in line with the “Green Deal”, for reducing emissions, carbon neutrality, business resilience and circular economy. The remaining 18% will be channelled into technological evolution: from increased cybersecurity to remote control, and from “smarty” bins for sorted waste to new meters.
This increase in investments was made possible not only by the positive results reached in 2020, but also by Hera’s financial solidity, which leaves room to manoeuvre with additional unforeseen investments. During the period covered by the Plan, in fact, a reduction is expected in the net debt/Ebitda ratio, reaching 2.8x by 2024.

 

For further information

Strategy and Business plan
Newsletter: business plan to 2024
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25/03/2026

Hera Group approves results at 31/12/2025

The year closed with a 4% increase in net profit attributable to shareholders and a 20% rise in investments. Value creation for all stakeholders and a solid capital structure once again confirm the Group’s ability to combine business growth with sustainable development. The proposed dividend increases to 16 euro cents per share, up 6.7% img_110x150_FY2025.jpg Economic and financial highlights Revenues at €12,812.2 million (-0.6%) EBITDA at €1,537.2 million (-3.2%) Net profit attributable to shareholders at €464.3 million (+3.9% on a like-for-like basis compared with FY2024, which benefited from extraordinary items of €47.8 million) Gross operating investments of €1,028 million (+19.5%) Net financial debt slightly down to €3,944.4 million, with net debt/EBITDA at 2.57x ROI at 9.6% and ROE at 11.6% Proposed dividend increased to 16 euro cents per share (+6.7%) Business highlights Around 4.4 million energy customers, with over 7.5 million citizens receiving at least one service from the Group Innovative initiatives continued to support the communities served in the ecological transition and strengthen the resilience of managed assets, in line with the Business Plan and the Net Zero target by 2050 Shared-value EBITDA rose to €915.6 million (+7%), while shared-value investments amounted to €810.9 million (78% of total investments). 64% of investments are aligned with the European Taxonomy. Economic added value distributed across the areas served exceeded €2.1 billion The Board of Directors of the Hera Group, chaired by Executive Chairman Cristian Fabbri, unanimously approved the Annual Financial Report as at 31 December 2025, including the Sustainability Reporting pursuant to Directive (EU) 2022/2464 (CSRD), containing the information necessary to understand the company’s impact on sustainability matters and how those matters affect its performance and results. In 2025, the Hera Group continued along its path of industrial growth, with investments up by almost 20%, increasing across all businesses and particularly in the environment and integrated water cycle areas. The Group’s commitment to combining business growth and sustainable development, fully in line with the strategic pillars set out in the Business Plan, was confirmed. The economic and balance sheet results in fact highlight the value creation capability underpinning the Group’s growth. Cristian Fabbri, Executive Chairman of Hera Group: “The positive results achieved in 2025 bring to a close the three-year term of office of the Board of Directors, a period marked by strong geopolitical instability and extreme weather events, which also had an impact on the businesses we manage. Despite this context, we accelerated industrial growth by investing almost €3 billion, 43% more than in the previous three-year period, improving the resilience of our assets and our contribution to environmental sustainability. We achieved significant results, confirming the validity of the direction taken by our Group and demonstrating that business growth, value creation and sustainable development can go hand in hand. Over these three years, EBITDA has grown by almost 20%, while net profit attributable to shareholders has grown continuously, up 44% overall. The cash flows generated enabled us to reduce debt and improve financial leverage. Total Shareholder Return increased overall by 77%, supported by 27% growth in dividends. At the same time, the economic value distributed to our stakeholders also increased significantly, exceeding €2.1 billion in 2025. In light of the positive results achieved and the financial strength of our Group, we will propose to the Shareholders’ Meeting the distribution of a dividend of 16 euro cents per share, up 6.7% on the last dividend paid. This increase will feed through to our dividend policy over the coming years, up to a dividend of 19 euro cents in 2029, as set out in our Business Plan.” Orazio Iacono, CEO of the Hera Group: "In 2025, against a complex macroeconomic backdrop, the Hera Group continued along its industrial development path, increasing investments by 20% to €1.028 billion, the highest level in Hera’s history. These investments were fully self-financed thanks to the significant cash generation achieved during the year and provide a solid foundation for the future development of our Group. At EBITDA level, which reached €1.537 billion, 2025 demonstrated our ability to turn the extraordinary opportunities of previous years into structural and sustainable growth. Net finance costs decreased compared with the previous year, confirming our ongoing commitment to the efficient rationalisation of financial resources. Accordingly, in 2025 as well, the Hera Group confirmed its ability to create value, reporting net profit attributable to shareholders of €464.3 million (+3.9%). In summary, the year closed on a positive note, with a further strengthening of our financial and economic solidity, as evidenced by a net debt/EBITDA ratio of 2.57x, which provides us with significant financial flexibility to pursue effectively the objectives set out in the Business Plan. A recent example is the acquisition of the Sostelia Group, a company with more than 1,200 customers, which positions us as a leader also in the market segment for the treatment of civil and industrial wastewater, further expanding our range of services in support of Italy’s industrial fabric". For further information: Press release Investors web area img_PrimoPiano_FY2025_ENG.png img_110x150_FY2025.jpg
16/03/2026

Hera Group finalises the acquisition of the Sostelia Group and becomes Italy’s leading player in water treatment

The transaction, with a total value of €138 million, is expected to contribute more than €20 million to the growth of the Hera Group’s EBITDA
09/03/2026

Hera Group acquires control of SEA

Through Herambiente Servizi Industriali, national leader in industrial waste treatment, the multi-utility increases its stake in the Ancona-based operator to 83%. A significant opportunity for the local area, with employment expected to double
04/03/2026

Hera S.p.A. Shareholders’ Syndicate Committee: Cristian Fabbri and Orazio Iacono confirmed in top roles

Hera S.p.A.’s public shareholders syndicate committee, chaired by the Mayor of Modena, Massimo Mezzetti, met today in Bologna. The Committee approved the list of candidates for the positions of members of the Board of Directors and the Board of Statutory Auditors to be proposed for appointment at the Shareholders’ Meeting scheduled for 29 April 2026. The Committee also confirmed Cristian Fabbri as Executive Chairman and Orazio Iacono as Chief Executive Officer for the 2026–2029 term. For further information Press release image 3 (1).png Hera_Fabbri_Iacono_110.jpg
News
18/02/2026

We are the best Multi & Water Utility according to S&P

For the sixth consecutive year, Hera has been included in the S&P Global Sustainability Yearbook, ranking in the “Top 1%” of the world’s best-performing companies in its sector,with outstanding results particularly in governance and social performance Hera S.p.A._top_1_black_110.jpg According to Standard & Poor’s, we are the world’s leading company in the Multi & Water Utility sector and has once again earned a place in S&P Global’s Sustainability Yearbook. This achievement follows an in-depth assessment of our performance across environmental, social and governance (ESG) dimensions. In particular, we ranked first globally in our reference sector with a score of 83 out of 100, compared with an industry average of 37 out of 100. The multi-utility is recognised as an international best practice across several areas: Governance: Hera stands out for the transparency of its reporting, its careful and effective risk management – including cyber risk – and its exemplary approach to managing the supply chain in a sustainable way; Environmental performance: the Group achieved top results in efficient energy management within its internal processes and in safeguarding biodiversity in the areas where it operates. It also excelled in the reporting and management of risks and opportunities related to climate change; Social dimension: Hera obtained the highest global score for respect for human rights, the development of its employees’ human capital, customer relations, privacy protection and engagement with local communities. S&P Global’s analysis therefore portrays a forward-looking company that leads a benchmark made up of the sector’s top performers worldwide. These highly positive assessments – released shortly after the publication of the new Business Plan – confirm our ability to pursue a sustainability strategy based on continuous commitment across the entire value chain, while keeping a close eye on international best practices. The evaluations also highlight the key strengths identified by analysts: a company that continues to deliver significant shared value creation, reflected in a forecast double-digit average annual Total Shareholders Return. For further information Press release Hera S.p.A._top_1_black_870.jpg Hera S.p.A._top_1_black_110.jpg
News
21/01/2026

The Hera Group presents its Business Plan to 2029

Development, resource regeneration, carbon neutrality, resilience, and the creation of shared value for all stakeholders are reconfirmed as the strategic axes underpinning the new Plan box110x150_BP2025_ENG (1).jpg ECONOMIC AND FINANCIAL HIGHLIGHTS OF THE BUSINESS PLAN TO 2029 Gross five-year investments of 5.5 billion euros 9.3% return on net invested capital EBITDA growth to 1.76 billion euros Net profit for Shareholders at 519 million euros, a structural increase* averaging around 6% per year Dividend rises 27% (up to 19 eurocents per share) Net debt/EBITDA steadily below 3x over the plan period, expected at 2.6x in 2029 BUSINESS AND SUSTAINABILITY HIGHLIGHTS Maintaining a balanced portfolio of regulated and free-market activities, capable of generating resilient results, and the ability to seize emerging opportunities 2.9 billion euros in investments aligned with the European Taxonomy for sustainable investments (95% of those eligible) Shared value operating investments amounting to 77% of the entire five-year plan 30% increase over the plan period in shared value EBITDA (CSV), which reaches 68% of the EBITDA in 2029 35% reduction in total CO2 emissions by 2029 (compared to 2019) to reach Net Zero by 2050 With reference to total investments, 48% will contribute to increasing the resilience of infrastructures, 35% will be allocated to resource regeneration projects and 24% to pursuing carbon neutrality objectives, while 26% will be directed to digitisation and innovation, to achieve the Group's environmental, social and economic objectives Over 11.5 billion euros in economic value distributed over the five-year period 2025-2029 to stakeholders in the areas in which the Group operates HIGHLIGHTS OF 2025 PRELIMINARY RESULTS EBITDA over 1.53 billion euros Net profit for Shareholders exceeding 460 million euros, up 4% Net debt/EBITDA ratio less than 2.6x Expected dividend of 16 eurocents (+6.7% compared to 2024), higher than expected in the previous Plan The Hera Group’s Board of Directors, chaired by Executive Chairman Cristian Fabbri, has reviewed the 2025 preliminary results and approved the Business Plan to 2029. Cristian Fabbri, Executive Chairman of Hera Group: “The new Business Plan confirms our commitment to creating value for all stakeholders. The 5.5 billion euros investment plan, up by around 40% compared to the last five years, supports, also through innovation, sustainable industrial development and the increased resilience of our infrastructures and will allow us to target an EBITDA of 1.76 billion euros by 2029. The improvement in the objectives of the new Business Plan and the positive economic and financial forecasts for the 2025 results allow us to revise the dividend policy upwards by proposing an increase of approximately 7% already from the next dividend, up to 27% in 2029 with a dividend of 19 eurocents per share. The economic value distributed over the 5 years to stakeholders in the areas in which we operate and the contribution of sustainable activities to the Group's EBITDA, which will reach 68%, are also growing to 11.5 billion euros.” Orazio Iacono, CEO of the Hera Group: "We expect to close 2025 with an EBITDA of more than 1.53 billion euros and a profit attributable to shareholders of more than 0.46 billion euros. Results supported by the growth of all businesses in the portfolio, despite the absence of temporary opportunities that had been seized in 2024. This performance made it possible to finance an increase in capital expenditures while maintaining a net debt/EBITDA ratio of less than 2.6x. This financial flexibility allows us to support investments in the green transition and industrial development. The capital expenditures, earmarked for both regulated and liberalised businesses, will fuel organic growth and will be financed by strong cash generation, which will allow us to maintain a financial leverage in 2029 in line with that of the expected closure in 2025, reconfirming financial soundness and creating additional flexibility to be able to seize future new opportunities". BUSINESS PLAN TO 2029 Development, resource regeneration, carbon neutrality, resilience and the creation of tangible and sustainable value for the benefit of all stakeholders are reconfirmed as the strategic axes of the new Plan, which also leverages innovation and digitalisation to support the achievement of the Group’s environmental, social and economic objectives. The increasing investments planned over the five-year period, mainly earmarked for development, will also make it possible to further strengthen the assets managed, also to cope with the increasing frequency of extreme weather events related to climate change. Value creation with the aim of reaching 1.76 billion euros of EBITDA by 2029 with a net profit attributable to Shareholders growing to approximately 520 million euros The Plan's projects promote structural growth of approximately 350 million euros with an average annual growth rate of around 5%. This growth more than offsets the loss of approximately 180 million euros in non-recurring business opportunities (compared to 2024) and achieves a total EBITDA of 1,760 million euros by 2029, up by 60 million euros compared to the previous Plan target for 2028. Organic development, which contributes approximately 250 million euros, is the main lever and is fuelled by the development capex plan, both in regulated and liberalised businesses, by commercial development and by the continuous search for efficiencies. Organic growth is also supported by innovative technologies and plant solutions and the use of artificial intelligence. Focus on sustainable development with a constant growth of shared-value EBITDA, equal to 68% of total EBITDA The Hera Group has planned initiatives with adequate profitability, consistent with the economic and financial balance and which, in parallel, guarantee to amplify the creation of sustainable value. Keeping the focus on decarbonisation, circular economy, resilience and innovation, an important evolution of the EBITDA at shared value is expected, which in 2029 will reach 68% of the Group's EBITDA. Over the five-year period, the shared-value EBITDA will increase by 30%, reflecting the growing weight of initiatives that, in addition to contributing to the development of the company, are in line with the objectives of the UN Agenda and with the development of the territory and communities. Gross investments of 5.5 billion euros with an expected leverage of 2.6x in 2029 During the period 2025-2029, the Business Plan foresees gross investments of 5.5 billion euros, a financial commitment 6% higher than the previous strategic document and 39% higher than the total resources invested in the last 5 years. In addition to the 5 billion euros of investments directly financed by the Hera Group, there are almost 500 million euros of contributions from the National Recovery and Resilience Plan (NRRP) resources and other institutions (PNIISSI, FONI, etc.). Regulated businesses will absorb 63% of the investment plan (with 3.1 billion allocated to networks, which are confirmed as the most capital-intensive business), while the remaining 37% will fuel the growth of liberalised businesses. Most of the investments (55% or 3 billion) will be for development, while the remaining 2.5 billion will be for maintenance. For further information Press release Visit Investors web area PrimoPiano_Piano-Industriale_ENG_Bp2025 (1).png box110x150_BP2025_ENG (2).jpg
News
19/01/2026

Hera Group acquires Sostelia and becomes Italy’s leading player in water treatment

With this integration, the multiutility further strengthens its positioning also in the industrial and civil water treatment sector sede_hera_110.1592477872.1603377215.jpg Hera Group further strengthens its leadership in the environmental sector, in particular in the treatment of civil and industrial water, thanks to the binding agreement signed for the purchase of 100% of STA and the related stakes in the subsidiaries that are part of the Sostelia Group (NTW, CID, NPC, Trentino Acque, COMS, Acque della Concordia, Arcobaleno GC). Sostelia is an important Italian private player for technologies and the treatment of industrial and civil water, 65% controlled by Xenon Fidec, an impact private equity fund managed by Xenon AIFM, and with the remaining 35% held by entrepreneurs representing the companies within the group. The transaction has an enterprise value of €138 million. The acquisition by Hera Group is subject to certain customary closing conditions (including notifications and approvals by the competent authorities) and is expected to be completed by the end of March 2026. Once fully integrated, the transaction is estimated to contribute more than €20 million to the consolidated EBITDA growth of Hera Group, in addition to the value of the expected integration synergies. The strategic lines of the transaction The transaction creates a benchmark player in Italy with an integrated offering in the water treatment market - from design and construction (EPC) to operation and maintenance (O&M), up to the treatment and disposal of liquid waste and sludge related to purification processes. It also enables a strong system of synergies with Herambiente, the Hera-controlled subsidiary and Italy’s foremost environmental operator, enhancing quality, efficiency, and service continuity for both public and private customers. Synergies are, in fact, one of the main drivers of value creation. On the one hand, the integration of Sostelia’s services could enable Herambiente to broaden its commercial offering by providing its customers with additional services such as revamping solutions and the design of new plants, or the operation and maintenance of existing private plants, ensuring technical-operational continuity that translates into greater reliability and lower operating costs. On the other hand, Sostelia’s customer portfolio represents a significant opportunity for Herambiente to integrate its own service offering. More generally, the combination of Sostelia’s technical expertise, plant infrastructure, and commercial capability will enable Hera Group to expand its customer base, diversify revenues, and increase business resilience in a sector that requires speed of intervention, high quality of service, and continuous innovation. For further information Press release sede_bo_870 (2).jpg sede_hera_110.1592477872.1603377215.jpg
News
15/01/2026

Hera remains a Top Employer: people, skills and innovation to drive the Group’s strategy

For the seventeenth consecutive year, we are confirmed among the leading organisations for human resources management img_110x150_topemployer2026.jpg We have once again been ranked among the best Italian companies for people management and development policies, obtaining the Top Employer certification for the seventeenth year running. The award recognises the Hera Group’s strategic commitment to continuous learning and organisational wellbeing, in a landscape where career longevity, talent attraction and generational inclusion are increasingly critical. With over 10,500 employees, 96% of whom are employed on permanent contracts, we distinguish ourselves through an HR model founded on flexible welfare, 360-degree wellbeing, professional growth, the enhancement of uniqueness and a strong cultural identity. Furthermore, our multi-business nature represents a significant benchmark on the national stage, offering diverse career paths and the opportunity to develop new skills within the same organisation. For us, continuous training is a cornerstone of its ‘people strategy’: thanks to an annual investment of approximately €15 million, over 97% of employees participate in at least one training initiative, averaging 30 hours per capita. A central role is played by HerAcademy, our corporate university, which aims to support the energy, environmental, digital and technological transitions through innovative programmes and ongoing dialogue with academia. On the welfare front, we allocate €23 million annually to its Hextra system, which involves 99% of the workforce. The scheme offers, among other opportunities, initiatives for parenting support, health and pension services, and programmes dedicated to psychological and financial wellbeing. For further information Press release Visit “Working at Hera group” web area PrimoPiano_Top_Employer2026.png img_110x150_topemployer2026 (1).jpg
12/11/2025

Hera Group: BoD approves results for 3Q 2025

The first nine months of the year closed with strong growth in revenue and investments, and with all key operating and financial indicators positive, in line with the first two quarters and the targets set out in the Business Plan Operating and financial highlights Revenue rises to 9,365.6 million euro (+10.6%) EBITDA stable at 1,037.2 million euro Net profit for the period up to 324.6 million euro (+4%) Gross operating investments at 666.8 million euro (+18.8%) Net financial position at 4,147.2 million euro and net financial position/EBITDA ratio at 2.6x, an improvement compared to September 2024 Return on invested capital increases, with ROI at 9.9% Key industrial guidelines Organic growth of the multi-business portfolio. The strong performance of the water and waste sectors offsets the absence of the temporary opportunities seized in 2024 within the energy segment. Expansion of the operational scope. Strengthening continues through M&A and joint venture initiatives (Ambiente Energia, CircularYard) and through the full consolidation of subsidiaries EstEnergy, Hera Comm, and Aliplast via the acquisition of minority interests. Value creation capacity. Solid operating performance and efficient financial management support earnings growth and the profitability of invested capital. Ample room for development. Cash generation and financial flexibility provide the basis for new organic and external growth initiatives, consistent with the objectives of the Business Plan. Today, the Hera Group’s Board of Directors, chaired by Executive Chairman Cristian Fabbri, unanimously approved the consolidated quarterly report at 30 September 2025, which confirms a positive structural performance and strong growth in revenues and investments compared to the same period of the previous year. Cristian Fabbri, Executive Chairman of the Hera Group: “Over the past nine months, leveraging cash generation and our strong financial flexibility, we have focused on the Group’s structural growth: we have doubled our operating investments aimed at development, increasing investments by almost 20% in both regulated sectors and free-market businesses. We furthermore completed a number of M&A transactions and repurchased the minority stakes in EstEnergy, Aliplast and, at the beginning of October, Hera Comm, all of which are now 100% owned. These persistent growth drivers, combined with the strength of our multi-business portfolio, enabled us to offset the loss of certain temporary opportunities and resulted in an increase in return on equity, now close to 10%. These results demonstrate that we are fully on track to achieve the objectives set out in our Business Plan.” Orazio Iacono, CEO of the Hera Group: “Strong operating performance and steps towards financial optimisation supported growth in net profit attributable to Shareholders, which rose by 4.2%. The macroeconomic scenario remains complex, but signs of stabilisation in the energy market, combined with our ability to generate cash flow and margins – with the net debt/EBITDA ratio at 2.6x – now allow us to pursue development opportunities with even greater momentum. One non-negotiable principle remains at the heart of our industrial strategy: sustainability must go hand in hand with competitiveness. All our investments in technologies and services aim to strengthen this connection, improving resilience, innovation and the quality of our offer. Only in this way can we reconcile the Net Zero 2050 target with the growth of local areas and the well-being of communities.” Double-digit growth in revenue, at 9.4 billion euro At 30 September 2025, the Hera Group’s revenue amounted to nearly 9.4 billion euro (9,365.6 million euro), increasing by more than 894 million euro compared to the same period in 2024, up +10.6%, mainly linked to the increase in energy commodity prices and the higher value of gas and electricity volumes traded. EBITDA stable at 1,037 million euro EBITDA for the first nine months of 2025 remained substantially stable with respect to the previous year, amounting to 1,037.2 million euro. Lower margins in the energy areas (–23.3 million euro) were offset by positive results in the water cycle and waste management services. The comparison with 2024 should however take into account the 85 million euro in extraordinary margins recorded that year, linked to temporary non-recurring opportunities (mainly last resort markets and eco-bonuses). Adjusted for these effects, EBITDA at 30 September 2025 shows structural growth coming to 9%, supported by contributions from all the Group’s core businesses, exceeding the 7% average annual growth rate forecast in the Business Plan for the period to 2028. Profit before income tax above 457 million euro Ebit for the first nine months stood at 519.9 million euro, down slightly (-0.5%) compared to the same period in 2024, mainly due to the increase in depreciation and amortisation linked to new investments in regulated sectors and waste treatment, while provisions decreased thanks to the normalisation of the energy market. Effective operational and financial management, which saw a 27.5 million euro reduction in expenses thanks to a rationalisation of the debt structure and a reduction in IAS expenses, led to a profit before income tax of 457.2 million euro, up 5.5% compared to the 433.5 million euro seen at 30 September 2024. Net Profit up 4% Despite the increased tax rate, at 29% (vs 28% the previous year), net profit at 30 September 2025 reached 324.6 million euro, up 4% compared to 312.1 million euro in the same period of 2024. At the same time, net profit attributable to Group Shareholders also grew, reaching 294.7 million euro (+4.2% compared to 282.9 million euro at 30 September 2024). Strong growth in operating investments and confirmation of the Group’s financial solidity At 30 September 2025, operating investments, including capital grants (34.2 million), amounted to 666.8 million euro, up by almost 106 million compared with the same period in 2024 (+18.8%). The areas that benefited most from development and regulatory compliance measures were the integrated water cycle (over 243 million euro in investments, 68 million euro more than the figure seen at 30 September 2024), the waste management area (almost 30 million euro more over one year) and the gas area (+11 million). For further information Press release Visit Investor Relations web area Img_PrimoPiano_9M2025_eng.png img_110x150_9M2025.jpg
13/10/2025

We’re in the global Top 10 of the Diversity & Inclusion Index - No. 1 among Italian companies

For the tenth consecutive year, we are ranked among the 100 most inclusive companies worldwide It’s a “ten out of ten” for us in the 2025 edition of the FTSE Diversity & Inclusion Index managed by FTSE Russell, part of the London Stock Exchange Group. We have secured 10th place globally, the only Italian company in the Top 10, out of a universe of more than 16,500 listed companies, marking our tenth consecutive presence in the index that recognizes companies most active in policies on diversity, equity, inclusion, and people development. About the index The FTSE Diversity & Inclusion Index identifies each year the 100 listed companies with the best global performance on DE&I topics. The methodology is based on 24 indicators across four key areas - diversity, inclusion, people development, and the absence of significant controversies - and relies exclusively on publicly available data. The data used for the 2025 edition are updated as of 30 June and refer to the previous fiscal year and the first half of the current year. Our intersectional approach In 2025, we further strengthened our commitment by launching a new digital training pathway on the MyAcademy platform focused on preventing harassment and violence and on reinforcing a culture of respect. The program - developed from focus groups with around 200 employees - is part of a two-year, intersectional plan that also addresses inclusive language, neurodiversity, parenting, and longevity. Hera also joined the PARI network (“Together against gender violence”) as founding member, further reinforcing the Group’s role in promoting safe, inclusive workplaces. For further information Visit D&I web area Press release diversity_inclusion_870 1.png diversity_inclusion_110.jpg
30/07/2025

Hera Group approves results for 1H 2025

The consolidated half-year report at 30 June shows increased net profit and capital expenditures, in line with corporate strategies and the targets contained in the Business plan Business and financial highlights Revenues at 6,786.2 million euro (+18.7%) Ebitda at 721.7 million euro (-1.5%) Net profit for Shareholders at 229.3 million euro (+5%) Gross operating investments at 414.0 million euro (+20.2%) Net financial debt at 3,927.1 million euro (-0.9% compared to December 2024), with Net debt / Ebitda at 2.49x (-7.5% compared to June 2024) Return on investment improves, with ROI rising to 10.3% and ROE to 11.5% The Hera Group’s Board of Directors, chaired by Executive Chairman Cristian Fabbri, unanimously approved the consolidated results at 30 June 2025. The results for the first half of 2025 show a positive structural performance, with growth in net profit and capital expenditures compared to the same period of the previous year. The Group’s solid multi-business industrial model, balanced between regulated and free market activities, along with its efficient financial management, allow Hera to continue along its path of growth, both internally and through acquisitions, increasing the value and resilience of its assets and contributing to the sustainable development of served areas and the creation of value for all stakeholders. Cristian Fabbri, Executive Chairman of the Hera Group: “In the first half of the year, we continued to increase our creation of value by leveraging the Group’s industrial growth and financial solidity. Cash generation allowed us to finance investments coming to over 400 million euro, up 20%, with the greatest increases going towards plant development in the waste management area and water cycle resilience. The solidity of our balanced business portfolio is reflected in the rise of Return on Equity, which stands at 11.5%. These results show that we are on track with our Business plan.” Orazio Iacono, CEO of the Hera Group: “Good operating performance and financial optimisations supported a 5% increase in net profit attributable to shareholders, which reached 229.3 million euro. These results confirm our ability to continue our path of growth, even in a complex macroeconomic scenario, keeping our focus on resilience, sustainability and innovation. The positive cash generation contributed to a further reduction in net debt, bringing the net debt/Ebitda ratio to 2.49x, which gives us significant strength for targeting future growth opportunities.” Revenues rise to 6.8 billion euro Revenues for the first half of the year amounted to 6,786.2 million euro, up sharply from the 5,716.5 million euro seen at 30 June 2024 (+18.7%), mainly due to higher energy commodity prices and the higher value of trading. Ebitda at 721.7 million euro The result was underpinned by a strong growth in all businesses (+7% increase), visible in a comparison on a like for like basis with first half 2024 Ebitda (733 million euro) excluding the temporary opportunities (mainly linked to last resort markets and the super ecobonus) amounting to approximately 56 million euro. First half 2025 adjusted growth is fully in line with Business plan targets. Net operating result stable and result before taxes increases Ebit for the first six months of 2025 amounted to 383.2 million euro, as against 385.1 million euro in the first half of 2024, as a result of lower provisions mainly related to last resort markets, which more than offset higher depreciation and amortisation for the substantial capital expenditures in development, especially in the regulated sectors. Net profit for Shareholders rises to 229.3 million Despite the increased tax rate, at 29% vs 28% in the first half of 2024, net profit at 30 June 2025 rose to 249.4 million euro, up (+5.1%) from 237.3 million euro in the same period of 2024. Similarly, net profit attributable to the Group’s shareholders also rose, reaching 229.3 million euro (+5%), compared to 218.4 million euro at 30 June 2024. These results once again confirm the creation of value for all stakeholders, perfectly in line with the expectations of the Business plan. Operating investments up by 20.2% and Group solidity further strengthened Operating investments, including capital grants, amounted to 414.0 million euro (+20.2%) in the first half of 2025, as against 344.4 million euro at 30 June 2024. This increase was mainly due to the performance of water and waste sectors. Net financial debt stood at 3,927.1 million euro, an improvement over both the 3,963.7 million euro at 31 December 2024 and the 4,063.5 million euro seen in the first half of 2024, thanks to the positive cash flow that fully covered increased capital expenditures and dividend payments. For further information Press release Visit Investor Relations web area BANNER_PP_ENG_1H2025.png img_110x150_1H2025.jpg
22/07/2025

Hera Group acquires Ambiente Energia

This transaction further expands the offer of waste recovery and treatment services to companies in one of the most dynamic areas of the country Acquisition signed after last February’s binding agreement Herambiente Servizi Industriali finalised the acquisition, from Manifattura Lane Gaetano Marzotto & Figli, of 100% of the capital of Ambiente Energia, a company operating in liquid industrial waste treatment at its plant in Schio, near Vicenza. This closing concludes the process that began on 27 February, when a binding agreement was signed by the two companies. Transaction in line with the 2028 Business Plan More specifically, Ambiente Energia will extend Herambiente Servizi Industriali global waste management offer in one of the most productive and dynamic areas of the country, where the Hera Group is already established with its subsidiaries Vallortigara Servizi Ambientali with two plants in Vicenza province, Aliplast in the Treviso area and Recycla with two plants in Treviso and Pordenone. A multi-purpose plant with an annual capacity of over 120,000 tonnes Ambiente Energia plant, with an annual capacity of more than 120,000 tonnes, thanks to state-of-the-art technological equipment, treats numerous types of liquid and sludge waste, both hazardous and non-hazardous, such as, for example, water from painting and washing, acids and bases, and water from chemical-physical treatments. Its services are thus completely designed for the industrial districts of the Veneto region, including the textile, tanning, engineering and eyewear industries. The purification plant, which returns water to surface waters after treatment, has 41 storage tanks, a wastewater treatment line (both chemical-physical and biological) and a sludge treatment line. For further information Press release   Ambiente Energia_870_ROUNDED.png Ambiente Energia_110.jpg
17/07/2025

Hera Group: excellent quality of water service confirmed

The results of the incentive mechanism for the integrated water service for the two-year period 2022-2023, recently published by ARERA, show Hera among the top positions in the Italian ranking for both asset and service quality For 2022-2023, the Hera Group is once again among Italy’s top companies for the technical quality of its water service, as appears in the ranking recently published by the Regulatory Authority for Energy, Networks and the Environment (ARERA), which recognises the high standards achieved in infrastructure efficiency and service levels and confirms Hera’s presence in the top positions for the third consecutive two-year period, that is, since the ranking was established, with the Ferrara area ranking second. The significant results achieved in the various local areas, from Emilia-Romagna to the Triveneto and Marche regions, confirm the Hera Group as one of the country’s most virtuous operators and reward the improvement projects and the investments made over the years in the integrated water service: over 1 billion euros in the past five years, with a further acceleration planned in the coming years. In fact, 1.5 billion are the allocated resources for the five-year period 2024-2028, primarily aimed at increasing the efficiency and resilience of networks and plants, to cope with the increasingly frequent and intense extreme weather phenomena. One of the multi-utility's key strengths is its ability to combine the typical levers of a large industrial operator, such as significant investment and the use of innovative technologies, with strong local roots and ongoing dialogue with local institutions, which have distinguished the Hera Group since its inception. The stated goal is to foster the development of territories that are increasingly liveable for citizens, more competitive for businesses, and more resilient to meet the challenges of climate change. 26 total technical quality awards earned by the Hera Group ARERA, based on the evaluations carried out, gave the Hera Group 26 overall awards for the technical quality results achieved, a particularly significant achievement because it covers all of the managed territorial areas in 4 italian regions.   For further information Press release ciclo Foto ciclo idrico Hera_110.jpg
14/07/2025

Hera Group on CDP’s «Climate A list»

The recognition awarded by this independent international organisation bears witness to Hera’s concrete commitment to transparency in environmental reporting and to combating climate change The Hera Group has been included for the first time in the prestigious "Climate A List" released by CDP (formerly the Carbon Disclosure Project), one of the most authoritative independent international organisations for environmental measurement and reporting. Thanks to this important recognition, the Group has further confirmed its position among the world's most virtuous companies, in the Top 2%, in terms of decarbonisation and transparency in reporting on climate change. This result is also above the industry average (B) and the European and world average (both C). CDP recognised Hera’s excellent results in practically all assessment categories, with further improvement in many key areas compared to the previous year and confirming its outstanding status in the remaining ones, corroborating its solid, structured approach, aligned with international best practices in managing climate challenges. Being included in the A List reflects the Hera Group’s high level of commitment and climate ambition, first and foremost in its pursuit of carbon neutrality, which is included in the Hera Group’s purpose with an amendment of the company’s Articles of Association in 2021. This goal also takes shape thanks to Hera’s Climate Transition Plan, published in 2024, which includes Net Zero by 2050. In particular, the Plan defines paths and levers for reducing direct and indirect emissions (Scope 1, 2 and 3), showing concrete actions for the reduction of climate-changing emissions, and provides governance mechanisms to integrate climate risks into corporate decision-making and financial processes. For further information Press release CDP_Badges_2025_A_List_870.png CDP_Badges_2025_A_List_110.png
02/07/2025

Herambiente S.p.A. acquires 100% of Aliplast S.p.A.

The Hera Group company concludes its integration of this European leader in recycled plastic, which began in 2017, by purchasing the remaining 20% of the company from Rogroup S.r.l Herambiente S.p.A., a Hera Group company, acquired from minority shareholder Rogroup S.r.l. its entire stake in Aliplast S.p.A., equivalent to 20% of the share capital, thus coming to hold 100% of the company based in Ospedaletto d’Istrana, near Treviso, a European leader in plastic regeneration. This transaction concludes the process of integrating the company founded by Roberto Alibardi into the Hera Group, which began in January 2017 with the purchase of an initial 40% tranche followed by a second 40% in December of the same year. Today, therefore, the purchase of the remaining 20% was finalised, according to the economic conditions set out in the initial agreement. Since its entry into the Hera Group eight years ago, Aliplast has achieved significant growth, especially in the higher end of the recycled plastic market (for example, in the food and health & beauty sectors), bringing it to a turnover of 150 million euro in 2024, with a total production of recycled products coming to 100 thousand tonnes, including PET and LDPE flakes and granules, PET sheets, LDPE films, PP flakes and HDPE. For further information Press release sedebo_870.png sedebo_110.jpg
25/06/2025

Hera Group approves Code of Conduct for suppliers

The Code reinforces Hera’s commitment to promote a more responsible supply chain, aligning it with the company’s sustainability principles and ethics The Board of Directors of the Hera Group approved its new Code of Conduct for suppliers. This is an innovative “supplier sustainability agreement” that reinforces the Group’s commitment to promoting a supply chain that is increasingly responsible and in line with ESG (Environmental, Social, Governance) principles. This Code was conceived through a participatory process, which actively involved a representative group of suppliers with whom principles and rules on sustainability and business ethics were shared and a true sustainability deal was co-designed, to stimulate the sustainable growth of the entire value chain. With the Code of Conduct, the Hera Group renews its commitment to recognising and valuing companies that adopt high ethical, social and environmental standards, including through the introduction of bonuses in tenders or in the supplier qualification process. Collaboration with suppliers: a strategic element for creating value The Hera Group has always focused on communication and collaboration with its stakeholders, first and foremost suppliers, as key elements for generating value. Hera, indeed, plays a strategic role in promoting sustainable development, enhancing its supply chain as an essential lever for sustaining the economy. The Hera Group adopts a rigorous approach in selecting its suppliers, which goes far beyond mere economic considerations: it deeply assesses their sustainability profile, actively favouring those who comply with the most stringent environmental and social standards. Code of Conduct for suppliers: a further element of empowerment for creating shared value in line with the Hera Group’s purpose The Code of Conduct for suppliers is part of the Group’s broader path towards creating shared value and implementing a business model guided by its Code of Ethics, which was updated in 2023 on the basis of the company’s purpose. Hera also stands out for its collaborative and non-imposing approach to its suppliers, focusing on empowerment and joint growth. For further information Press release   sede_hera_870_rounded.png sede_bo_110_news primo piano.jpg
18/06/2025

Hera Group ranks 2nd in the ESG Identity Corporate Index 2025 (ex IGI)

On the tenth anniversary of the ESG Identity Corporate Index, Hera also received recognition for performance and continuity as Strongest Performer, Best Finance Identity and Best Transition Identity among Large Cap companies. At the ESG Business Conference 2025, the Hera Group ranked second among Italian companies for its integration of sustainability policies into its business strategies and corporate governance. This year as well, and for the fifth consecutive time, Hera is among the leaders of the ESG Identity Corporate Index (formerly the Integrated Governance Index) managed by ETicaNews. Hera thus celebrates ten years in the Top 10 of the Index, launched in 2016. And precisely one decade after the ESG Identity Corporate Index project was created, the Group was also awarded three multi-year performance and continuity awards, aimed at companies that participated in all of the last six editions (2020-2025) of ESG.ICI. More specifically, in the Large Cap category, Hera won the awards: Strongest Performer, Best Finance Identity and Best Transition Identity. Sustainable growth and communication with local areas at the centre of strategies The integration of ESG targets into business strategies and strong local roots are distinctive features of the Hera Group. Today, more than 7.5 million citizens have at least one service provided by the Group in the waste management, energy and water sectors, contributing to the Group doubling its operational size over the last decade. Its business model bases growth and value creation on sustainability, promoting innovation and an inclusive dialogue with all stakeholders. This ongoing dialogue enables Hera to face the challenges raised by the ecological transition, energy security and climate change. The ESG Identity Corporate Index The ESG.ICI is Italy’s only quantitative index that measures the integration of ESG principles into corporate strategies, assessing companies’ commitment to sustainability, social responsibility, the environment and governance. It is unique for its scientific and quantitative approach and aims at measuring the degree of integration of ESG factors in corporate processes, outlining trends, identifying best cases and stimulating debate. The 2025 survey involved 98 companies, 72 of which were listed. For further information Press release   ESG_ICI_2025_870_rounded.jpg ESG_ICI_2025_110.jpg
14/05/2025

Hera Group BoD approves results for 1Q 2025

Improvement in the main operating and financial indicators. Growth in investments and the reduction of financial debt also continued Revenues at 4,321.3 million euro (+28.3%) Ebitda at 418.0 million euro (+0.2%) Net profit for shareholders at 153.7 million euro (+7.4%) Gross operating investments at 191.6 million euro (+22.2%) Net financial debt improves to 3,896.9 million euro, with net debt/Ebitda at 2.45x Today, the Hera Group’s Board of Directors, chaired by Executive Chairman Cristian Fabbri, unanimously approved the consolidated results at 31 March 2025. The first quarter of 2025 closed with growth in operating results and investments, and a degree of financial solidity showing further improvement compared to the end of 2024. This good performance was driven by the Group’s multi-business strategy, balanced between regulated and free-market activities, and its usual focus on sustainability. Cristian Fabbri, Executive Chairman of Hera Group: “In the first quarter we achieved solid growth in our financial results, further strengthening of our capital position. Ebitda rose to 418 million euro, with a structural increase in margins in all business areas, which offset the end of the non-recurring items. Gross operating investments were fully self-funded, thanks to the increase in cash flows, and exceeded 190 million euro, up by more than 22%: capital expenditures to further improve the resilience of assets in the integrated water cycle grew by 57%, while those going to upgrade plant equipment in waste treatment increased by 40%. The value creation at the basis of our industrial strategy was also confirmed by the increase in return on invested capital, which rose to 10.3%.” Orazio Iacono, CEO of the Hera Group: “The results achieved by the Hera Group in the first quarter of 2025 confirm our ability to pursue our path of growth, even in a complex macroeconomic scenario, keeping our focus on resilience, sustainability and innovation and confirming the solidity of our business model. The good operating and financial performances led to an increase of 7.4% in net profit attributable to shareholders, which rose to 153.7 million euro at 31 March 2025. Our positive cash generation, was able to fully cover the increase in both working capital and capital expenditures and also contributed to further improving financial flexibility, bringing the net debt/Ebitda ratio to 2.45x, lower than the leverage at the end of 2024, representing a strength for pursuing future external growth opportunities." Revenues at over 4.3 billion In the first quarter of 2025, revenues amounted to 4,321.3 million euro, up 28.3% compared to 3,368.6 million euro in the same period of 2024, mainly due to higher energy commodity prices and an increased energy customer base (adding almost 1 million customers equal to +20%). Ebitda rises slightly to 418.0 million Ebitda at 31 March 2025 came up at 418.0 million euro, up slightly (+0.2%) from 417.1 million euro in the first quarter of 2024, confirming strong resilience against macro scenario turbulence. Ebit and pre-tax result increase Ebit at 31 March 2025 rose to 247.2 million euro, up slightly (+0.5%) from 245.9 million euro in the first quarter of 2024. Lower provisions in last resort markets offset higher depreciation related to development capital expenditures, which increased the value of the Group’s assets particularly in regulated sectors and waste treatment, and the new customer acquisition activities in the energy sector. Net profit for shareholders rises to 153.7 million The solid operating and financial performances allowed net profit to rise to 163.8 million euro (+6.8%), compared to 153.3 million euro at 31 March 2024. Net profit attributable to the Group’s shareholders also rose to 153.7 million euro (+7.4%), compared to 143.1 million euro at 31 March 2024. Gross operating capital expenditures increase, and Group financial solidity maintained The Group’s operating capital expenditures, including capital grants, reached 191.6 million euro (+22.2%), compared to 156.8 million euro at 31 March 2024. This increase was mainly due to the water cycle and waste management areas. For further information Press release Visit Investors web area Img_Primo_Piano_1Q_2025_eNG.png img_110x150_PrimoPiano_1Q2025.jpg
30/04/2025

Hera Shareholders Meeting: 2024 financial statements approved and dividend increases to 15 eurocents

The Group’s process of industrial growth continues, closing 2024 with key operating-financial indicators and investments rising, continuing to successfully seize market opportunities and generate value for the local areas served and all stakeholders The Hera Extraordinary and Ordinary Shareholders Meeting, chaired by Executive Chairman Cristian Fabbri, approved the 2024 financial statements and payment of a dividend increasing to 15 eurocents per share, in line with what had been previously announced when the 2028 Business Plan was presented, due to the significant results achieved. Also presented to Shareholders Meeting was the Sustainability reporting which, as of this year, is an integral part of the consolidated and separate financial statements at 31 December 2024, as required by the Corporate Sustainability Reporting Directive (CSRD) 2022/2464/EU. Among the various resolutions passed, the Shareholders Meeting also approved an amendment to the Articles of Association, in compliance with Legislative Decree 125/2024 implementing the CSRD. Amendment of Article 29 of the Articles of Association: new position of Manager responsible for Sustainability reporting As part of the European Green Deal, in order to strengthen companies’ reporting obligations, Legislative Decree 125/2024 introduced the possibility of establishing the position of the Sustainability reporting manager. The Shareholders Meeting therefore approved the amendments of the Articles of Association aimed at regulating the procedures for appointment and the requirements concerning experience and professionalism for this new figure, in compliance with current legislation. 2024 financial statements approved with further growth in key indicators The Shareholders Meeting approved the 2024 financial statements, which indicate increases in the main operating and financial indicators and investments. The creation of value for all stakeholders and the Group’s solid equity once again prove the validity of its multi-business model and its ability to combine corporate growth and sustainable development. Among the main results: adjusted Ebitda rose to 1,587.6 million euro (+6.2%), mainly showing internal and structural growth, and the adjusted net profit attributable to shareholders increased sharply, reaching 494.5 million euro (+31.8%). Total operating investments grew to 860.3 million euro (+5.5%), an increase that demonstrates the ongoing focus on developing, enhancing and strengthening the resilience of assets under management, whose resistance was confirmed even during the extreme weather and climate phenomena that hit Emilia-Romagna last autumn. Payment of a dividend increasing to 15 euro cents per share approved The Ordinary Shareholders Meeting approved the Board of Directors’ proposal to pay a dividend coming to 15 eurocents per share, up 7.1% compared to the last dividend paid. The ex-dividend date was set at 23 June 2025, with payment as of 25 June 2025. Sustainability reporting: growth in shared value Ebitda and investments During the presentation of the 2024 financial statements, the Hera Group’s Sustainability reporting was also put to the attention of the Shareholders Meeting. In accordance with the CSRD and the European Sustainability Reporting Standards (ESRS), as of this year it is an integral part of the Directors’ report and contains all information needed to understand the company’s impact on sustainability issues and how they affect its performance and results. For further information Press release Visit Shareholders’ Meeting web area 2024 Financial Statements Creating Shared Value 2024   Assemblea-azionisti-2025_870_ROUNDED.png assemblea-azionisti-2025_110.jpg
News
02/04/2025

Aeroporti di Roma and Hera Group still together for a circular approach to operational process management

Thanks to an agreement recently renewed for an additional two years, we are supporting the company managing the Fiumicino and Ciampino airports to develop circular initiatives aimed at reducing non-recoverable waste, improving recycling rates and making water consumption more efficient Iacono-Troncone_110.jpg With Aeroporti di Roma (ADR) we have joined forces to make Rome's Fiumicino and Ciampino airports increasingly sustainable, further developing the circular approach to resource management that has led Rome's airports to send all waste produced by passengers for recovery and to save over 1.4 million cubic metres of drinking water by 2024, using treated water for reuse for all uses where potable water is not strictly necessary. A protocol for the circular management of Rome’s airports The agreement with ADR renewed for another two years after an initial protocol launched in 2022, aims to continue along the path of continuous improvement in waste and water cycle management at the Leonardo da Vinci (Fiumicino) and Giovan Battista Pastine (Ciampino) airports. This project is part of ADR’s sustainability plan, that sets sustainable process management at the heart of the company’s strategy. Waste: more recycled, less discarded In 2024, Fiumicino and Ciampino airports produced over 13,000 tonnes of waste. All the waste produced by passengers was sent for recovery, a result achieved thanks to the effective door-to-door separate waste collection system. Moreover, based on this methodology, it is expected, already by 2025, to further improve the recovery of different types of waste, with a focus on packaging and other significant sectors, to promote prevention, reuse and recycling. Concrete actions will thus be put in place for each type of waste, to reduce waste production and maximise the most virtuous forms of recovery. Water: more efficient management and recovery of the resource Sustainable use of the water resource is a priority strategy for ADR. At Fiumicino Airport, potable water is used for less than 30% of the airport's uses. Thanks to the presence of a dual network, ADR only uses potable water for those uses for which it is actually essential; in other cases it uses “treated” water from recycling or capture. Through advanced monitoring systems based on IoT technologies, we and ADR are working to minimise the risk of any leaks or anomalies in the water network of the two Rome airports, thus further reducing the risk of waste. Wastewater management, an increasingly circular approach Fiumicino Airport, like a medium-sized city, is equipped with two wastewater treatment plants that are directly managed by ADR. Wastewater treatment is an important element of the airport management process and is another key aspect of the collaboration with ADR. For several years now, ADR has been using a dual water network, separating the use of drinking water from that of treated water for reuse, and the water resulting from the purification process is reused for airport uses (toilets, heating systems, watering and fire-fighting systems). Thanks to the support of Herambiente Servizi Industriali (HASI), it has been possible to further develop a sustainable approach to wastewater management by implementing and upgrading water purification systems; the sludge resulting from this process is sent to composting plants for reuse in agriculture. For further information Press release   Iacono-Troncone_870_rounded corners.png Iacono-Troncone_110.jpg

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