Menu Display

Alert Web

HeraAssetPublisherFilterComuneSelector

Choose the municipality

Ci dispiace, il servizio non è attivo nel tuo comune.
Esplora i servizi attivi nel tuo comune:
Inserisci un comune con il servizio di "Ambiente" oppure vai all'Homepage

Hera Group BoD approves results for 1Q 2024

Testata News

News

Hera Custom Facet Publish Date

Custom Facet

ddmStructureKey
Custom Facet

Category Facet

Category
Category Facet

Hera Custom Facet Publish Date

Search Bar

Search Bar

Asset Publisher

14/05/2024
Hera Group BoD approves results for 1Q 2024

The consolidated quarterly report at 31 March shows improvement in the main operating and financial indicators

Financial highlights

  • Revenues at 3,285.8 million euro
  • Ebitda* at 417.1 million euro (+1.7%)
  • Net profit for shareholders* at 143.1 million euro (+11.6%)
  • Gross operating investments at 156.8 million euro
  • Net financial debt at 3,986.6 million euro, with Net debt / Ebitda* at 2.66x

Business highlights

  • Significant contribution to growth from the water, electricity and waste management sectors
  • Growth of energy customer base continues, now at 3.9 million
  • New avant-garde projects for the ecological transition and investments to optimise the assets managed

The Board of Directors of the Hera Group, chaired by Executive Chairman Cristian Fabbri, unanimously approved the consolidated financial results for the first quarter of 2024 and appointed the Group’s new Vice Chairman.
The first quarter of 2024 ended with increased operating results and investments compared to the same period in 2023 (year in which Hera recorded the highest growth in its history), in a market environment that was more stable than the previous year due to lower volatility in commodity prices, while still not returning to the levels seen prior to the crisis. This good performance is the result of the Group’s consolidated multi-business strategy, balanced between regulated and free-market activities.

 

Cristian Fabbri, Executive Chairman of Hera Group:

“The first quarter of 2024 closed with the main operating and financial indicators showing growth, thanks to our consolidated multi-business strategy, balanced between regulated and liberalised activities: these results confirm the targets for creating value included in our Business Plan. In fact, the good operating performance led Ebitda to reach 417.1 million euro, up from last year’s exceptional results. The gradual normalisation of the energy scenario also allowed us to achieve a double-digit growth in net profit and return on our invested capital, which stands at 9.5%. In the electricity sector, the 19% increase in the customer base confirms our Group’s commercial strength and expertise, capable as we are of growing and boosting customer loyalty with value-added services for decarbonisation and energy efficiency, and conquering new market shares, reaching a total of 3.9 million energy customers.”

 

Orazio Iacono, CEO of the Hera Group:

“The 1Q 2024 solid results highlight further growth along with the Hera Group’s confirmed focus on resilience, sustainability and innovation. Operating investments, amounting to around 160 million euro, went to upgrading and making the managed infrastructures even more efficient, to ensure service quality and continuity and improve the resilience of our assets. The activities carried out in 2023 to optimise the financial structure led to a decrease in the cost of medium- and long-term debt, generating a significant saving in financial expenses compared to the same period one year earlier. This results in an increase of about 12% in net profit attributable to shareholders, which rose to over 143 million euro. The Group’s financial solidity was also fully confirmed, with the Net debt / Ebitda* ratio standing at 2.66x, improving from previous year and essentially aligned with the figure recorded on 31 December 2023.”

 

Revenues at approximately 3.3 billion
In the first quarter of 2024, revenues amounted to 3,285.8 million euro, down significantly from 5,628.9 million euro in the same period of 2023, mainly due to lower energy commodity prices and lesser trading activities, as well as reduced opportunities related to energy efficiency incentives in residential buildings. This drop was partially offset by the higher volumes of electricity sold, as a result of significant commercial development. 

 

Ebitda* rises to 417.1 million euro
At 31 March 2024, Ebitda* rose to 417.1 million euro (+1.7%), as against 410.2 million euro for the first three months of 2023, demonstrating the resilience of the Group’s results within the normalisation of commodity prices. This growth is mainly due to the contribution coming from the water area, amounting to 9.8 million euro, the good performance of the electricity and waste areas, up 3.5 million euro and 2 million euro respectively, as well as the other services area, up 1.4 million euro, all of which offset the 9.8 million euro drop in the gas area due to the loss of the contribution coming from the super-ecobonus.

 

Ebit* and pre-tax result* increase
Ebit* at 31 March 2024 increased to 245.9 million euro, up 4.2% from 236.1 million euro in the first quarter of 2023. This performance was also supported by lower provisions for bad debts, due to the normalisation of commodity prices and lower gas volumes.

 

Net profit attributable to shareholders* up to 143.1 million euro
After taxes, which came to 28%, mainly due to lower tax benefits in the first quarter of 2024 compared to the same period in 2023, net profit* rose to 153.3 million euro (+9.3%), compared to 140.3 million euro at 31 March 2023. Net profit attributable to Group Shareholders* also rose, coming to 143.1 million euro, up (+11.6%) from the 128.2 million euro seen at 31 March 2023. These results supported the creation of value for all stakeholders, in line with the content of the Business Plan.

 

Gross operating investments rise, maintaining the Group’s solidity 
The Group’s operating investments, including capital grants, confirmed its strategic plans and were in line with the previous year, amounting to 156.8 million euro, as against 155.7 million euro at 31 March 2023, and mainly went to works on plants, networks and infrastructures. Regulatory upgrading was also carried out, mainly concerning gas distribution, with a large-scale meter replacement, and the purification and sewerage area.

 

Tommaso Rotella becomes Vice Chairman of Hera
The Board of Directors assigned the position of (non-executive) Vice Chairman to Mr. Tommaso Rotella, who was appointed as a board director during the Shareholders Meeting held on April 30. 
Mr Rotella was also appointed Vice Chairman of Hera S.p.A.’s Executive Committee and Chairman of both the Remuneration Committee and the Risk and Control Committee (also acting as the Committee for Transactions with Related Parties).
Rotella will remain in office as Vice President until the Shareholders’ Meeting held to approve the 2025 financial statements.

* In order to ensure that the results presented reflect the actual performance of the gas business more closely, and are thus more easily comparable, the figures with an asterisk include a managerial adjustment for 2023 based on a valuation of stocked gas at prices pertaining to the period of injection. See the paragraph entitled “Special items and managerial adjustments / IFRS balance sheet reconciliation”, which contains a comparison between the managerial statement and the IFRS balance sheets.
​​​​​​​

For further information
Press release 
Visit Investors web area

 

Go to news

Asset Publisher

19/06/2024

We rank first in the 2024 ESG Identity Corporate Index

For the fourth consecutive year, we are on the podium of the overall index ranking, which rewards Italian companies that stand out for integrating ESG factors into their governance
14/05/2024

Hera Group BoD approves results for 1Q 2024

The consolidated quarterly report at 31 March shows improvement in the main operating and financial indicators
30/04/2024

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
26/03/2024

Hera Group approves results as at 31/12/2023

The year closed with main financial indicators rising and the targets included in the strategic Plan to 2026 exceeded three years ahead of schedule
04/03/2024

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.

04/03/2024

Hera Group and Panasonic Industry together for the diffusion of NexMeter on the national market

The Japanese electronics leader collaborates with the multi-utility to distribute the NexMeter 4.0 gas meter, with advanced features in the field of measurement
06/02/2024

Over 1 million new electricity customers as of 1 July

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
25/01/2024

Hera Group expands in the industrial waste sector with TRS Ecology

With the acquisition of 70% of the Piacenza-based company, the Group reinforces its leadership in the waste management sector
24/01/2024

Hera Group presents Business Plan to 2027

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
18/01/2024

Top Employer for the 15th Consecutive Year

Once again in 2024, we confirm our position among the best performers in human resources management, thanks to substantial investments in welfare, training, and skill development
Page 1 of 24
— 10 Items per Page
Showing 1 - 10 of 231 results.

Search Results

28/06/2017

Energy efficiency - Stefano Venier, "Resources are available for interventions in the Public Administration Sector, but a division of roles is crucial"

Energy efficiency "Regarding energy efficiency, operators must be given the time required to obtain investments, and the public must have the opportunity to make the most of it", said Stefano Venier, CEO of the Hera Group, discussing one of the crucial topics of Italian energy policies. Achieving the increasingly ambitious goal of reducing consumptions presents municipalities with new and highly challenging management solutions. In this regard, "finance is not a problem", said Venier, in the introductory notes to the conference 'Financing Energy Efficiency in the Public Administration Sector', held this morning by CESEF (Energy Efficiency Study Centre) in Hera's Bologna offices. Conversely, efficiency enhancing interventions have several tools to obtain the necessary resources". But the system functions effectively only if the division of roles is clearly defined. "The operative setting is crucial for a positive outcome. The Administration establishes goals and targets", said the CEO Venier, "and the operator is required to implement the functional interventions required to achieve them". "Our Group," said Stefano Venier, "has always played a leading role in terms of energy efficiency. With 117 interventions implemented in 2016, we have already cut down consumptions by 2.6%, compared to the 3% goal established for this year, which will be easily overcome as a result of scheduled activities. This is the reason why we reviewed it with an increment, aiming at 5% within 2020". CESEF's Director, Stefano Clerici, said, "The Public Administration Sector must understand the opportunities generated by energy efficiency in economic, environmental and also political terms. Hence, CESEF is building a tool box for energy efficiency in the Public Administration Sector to provide the most appropriate tools to solve the problems that block investments in this framework. Considering funds, it is essential to use the latest public-private partnership agreements that fairly divide the risks of the project between the Public Administration Sector and private operators and attract the abundant resources that are available especially in the banking world". Some success cases in the Public Administration Sector were presented at the conference organised in partnership with Confservizi Emilia Romagna. Participating institutions included the Emilia Romagna Regional Administration, Bologna and Budrio Municipalities, Modena Agency for Energy and Sustainable Development and ANCI Emilia Romagna. Many companies joined the discussion with Hera Luce, a Group member company that ranks second in Italy for public lighting. Best cases presented by Hera Luce included energy upgrading plans that are currently being implemented in some Emilia Romagna municipalities. Energy efficiency 2017-07-27 Read more efficienza_energetica.1501232935.png During the workshop "Financing Energy Efficiency in the Public Administration Sector", organised by CESEF in Hera's Bologna offices, the company's CEO was favourable to the solution adopted for energy management in the Public Administration Sector. Energy efficiency
19/06/2017

Hera and ISS: applying Water Safety Plans together

wsp 110 Water Safety Plans are European protocols for step-by-step monitoring of potable water production and distribution processes. EU Directive 1787/2015 requests, in fact, that member states implement such protocols as soon as possible, and Hera - true to its own history - has no intention of waiting. With a long-standing record of thorough mains water monitoring and outstanding service performance that guarantees - across all served areas - low-priced, high-quality potable water, the multi-utility has now signed an agreement with the Istituto Superiore di Sanità (ISS) to apply, over the two-year period 2017-2018, complete Water Safety Plans on two of its mains water systems. This will allow us to acquire the methodology and develop the skills laid out in the directive guidelines, letting us extend Water Safety Plans to all our mains water systems. This subject will soon be the focus of a conference for industry experts, to be held at the multi-utility's Bologna headquarters on Wednesday 21 June. Key Group managers will be in attendance, as will other institutions/bodies involved in the project. Safety, then, first and foremost. The introduction of a precise, sound standard for all EU states lends further weight to the dedication shown by Hera in recent years. Thanks to extremely early commitment, in fact, the Group has had the infrastructure, analysis facilities and monitoring systems in place - all used on a daily basis - for some time now, allowing our over 3.6 million customers to drink domestic tap water in complete confidence. Guaranteed by no less than 2,000 checks a day, tap water plays a pivotal role in Hera's plans: indeed, the eighth edition of the annual In buone acque ('In good waters') report has now been published, giving a detailed account of every aspect of this essential service. For some years, in fact, the Group has been working alongside Regione Emilia-Romagna and Arpae to develop an application methodology, based on risk analysis, to define water safety plans. That work has resulted in contributions to the Water Safety Plan Guidelines published by the Istituto Superiore di Sanità in 2014 (ISTISAN report 14/21). "As we see it", states Franco Fogacci, Hera Group's Water Manager, "guaranteeing high quality drinking water has always been a top priority, so we can't help but find ourselves in agreement with the framework laid out in the EU Directive. Water Safety Plans", continues Fogacci, "constitute a major challenge for everyone in the industry: we all need to do a great job of providing a response that ensures their effective, accurate implementation. Indeed, I think that Hera's vast experience", concludes the multiutility's Water Manager, "lets us field the skills and resources that help drive such processes, their outcome going beyond the provision of practical services for served areas to provide great examples for other local areas". wsp 2014-03-19 870.1500390469.jpg With years of excellent results behind it, Hera renews its commitment to outstanding potable water quality and, together with the Istituto Superiore di Sanità (Higher Health Institute), aims to apply EU Water Safety Plans to its own mains water systems. A debate on the subject will be held on Wednesday 21st June. wsp 110
08/06/2017

#All4thegreen - Stefano Venier discusses the goals of the UN's Agenda for 2030

Stefano Venier discusses the goals of the UN's Agenda for 2030 The CEO Stefano Venier intervenes at All4thegreen, in view of G7 Environment that will be held in Bologna, to explain the Hera Group's contribution to 10 of the 17 Sustainable Development Goals defined by the UN's Agenda for 2030. The interview touched on several topics, with special focus on the challenges of energy efficiency and circular economy, which was discussed during the conference that was recently held in the Bologna offices of the multi-utility company on 6 June. An important occasion to underscore the virtual link between sustainability, economic growth and social benefits, and also to explain how the commitment to promote separate waste collection and recycling has enabled Hera to achieve, before others, important goals established by the European Union for 2025 and 2030, thus providing a practical answer to the demands of local bodies and of clients who are increasingly keen on themes of green economy. [block]div:row-fluid::db:hr_press_comunicazione::box:69[/block] Stefano Venier discusses the goals of the UN's Agenda for 2030 https://www.youtube.com/watch?v=NKl1XzGwDF0#prettyPhoto 2017-07-27 venier_big_opt.1497006706.png The CEO Stefano Venier intervenes at All4thegreen, in view of G7 Environment that will be held in Bologna, to explain the Hera Group's contribution to 10 of the 17 Sustainable Development Goals defined by the UN's Agenda for 2030. The interview touched on several topics, with special focus on the challenges of energy efficiency and circular economy, which was discussed during the conference that was recently held in the Bologna offices of the multi-utility company on 6 June. Stefano Venier discusses the goals of the UN's Agenda for 2030
06/06/2017

Creativity and innovation - the Italian path to circular economy

Creativity and innovation [block]div:row-fluid::db:hr_press_comunicazione::box:68[/block] Events related with G7 Environment touch core topics with the conference organised by Hera on circular economy in its Bologna offices. The initiative offers the opportunity to present the sustainability report of the multi-utility company, and witnessed the presence, among others, of the Minister for the Environment, Gian Luca Galletti. He pointed out the central role played by circular economy in the framework of the 4th industrial revolution we are experiencing, underscoring the important progress made by regional administrations, such as Emilia-Romagna. Many leading figures from the business world, institutions and research bodies attended the event organised by Hera today to discuss the transition towards increasingly sustainable development models. Key participants included Enrico Giovannini, Professor of Economic Statistics at the University of Rome; Oscar Farinetti, creator and founder of Eataly; Catia Bastioli, CEO of Novamont S.p.A., and Carlo Ratti, Director at the MIT of Senseable City Lab, just to mention a few. They were preceded by Ellen MacArthur's presentation, who is also known for the namesake foundation, which is the most active and important organisation in the world on the scene of circular economy. "Carbon resources will be depleted over a period of 100 years", said Ms MacArthur, "but saving resources will not suffice. We can adopt it to gain time for the transition from linear economy to circular economy that severs the link between scarce resources and our growth prospects by focusing on innovation, education, training and new generations." [block]div:row-fluid::db:hr_press_comunicazione::box:69[/block] Moreover, "Innovation" and "creativity" are the key words of the conference organised by Hera that, through its senior management, spoke about its commitment for sustainability, showing that the Group is strongly committed to 10 of the 17 goals on the UN's Agenda for 2030. The new version of the sustainability report particularly accounts for the "shared value", namely wealth generated by Hera in pursuing the goals of the Global Agenda. Equal to 1/3 of the overall gross operating margin, the shared value of the multi-utility company amounts to 300 million euro for 2016. Said amount was obtained by focusing on three strategic sectors, namely the intelligent use of energy (with 48 million euro generated by promoting energy efficiency, and 29 million euro by making greater use of renewable energy); the efficient use of resources (with 110 million euro obtained by pursuing the transition to a circular economy, and 83 million euro obtained through sustainable management of water resources); innovation and development in the local area (with 18 million euro resulting from innovative projects and digitalisation, 11 million euro for the protection of air and soil, and 35 million euro for the economic development of local communities and social inclusion projects). "These moments of discussion are very important", says Tomaso Tommasi di Vignano, Hera Group's Executive Chairman, because they confirm the international framework of the excellent results achieved by Hera in terms of development of circular economy. Tommasi goes on to say, "What is at stake is the acceleration of a transition that requires everybody's contribution, with special reference to the need for a stable and more homogeneous regulatory framework that can encourage planning, investments and consolidation processes, which are essential, in the long term, for sustainable and lasting growth". 2017-07-27 Creativity and innovation
4 Entries Per Page

Showing 193 to 196 of 231 entries.

Pre-Footer Standard

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