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

Hera’s Ordinary and Extraordinary Shareholders Meeting, chaired by Executive Chairman Cristian Fabbri, was held this morning in Bologna to approve the 2023 financial statements and the payment of a dividend increasing to 14 cents per share, in line with what was previously announced during the presentation of the 2027 Business Plan and based on the significant results achieved.
The 2023 Sustainability Report (consolidated non-financial statement prepared pursuant to Legislative Decree 254/2016) was also presented during the Meeting.
2023 financial statements approved with record results
The Shareholders Meeting approved the 2023 financial statements, which showed strong growth in the main operating and financial indicators compared to both the previous year and to pre-crisis levels (FY2021).
Among the main results: adjusted Ebitda rose to 1,494.7 million euro (+15.4%) and adjusted net profit attributable to shareholders amounted to 375.2 million euro (+16.5%). Gross operating investments reached 815.8 million euro (+15.0%) and were mainly allocated to innovation and resilience of the assets managed, the circular economy and the energy transition, with concrete projects consistent with the foremost national and international policies. Net debt fell to 3,827.7 million euro, as against 4,249.8 million euro at 31 December 2022. The financial structure thus improved significantly, with the net debt to adjusted Ebitda ratio dropping to 2.56x, compared to 3.28x for the previous year, well below the Group’s prudential parameters.
These results confirm, once again, the sound management strategy implemented by the Group, whose financial strength and flexibility have enabled it to continue along its path of industrial growth, increasing investments, successfully seizing market opportunities and continuing to generate value benefitting all stakeholders.
Dividend payment confirmed, rising to 14 cents per share
The Shareholders Meeting approved the Board of Directors’ proposal to distribute a dividend coming to 14 cents per share, up 1.5 cents over the last dividend paid (+12%). The ex-dividend date was set at 24 June 2024, with payment as of 26 June 2024. The dividend will be paid to the shares recorded on 25 June 2024.
The dividend paid, based on the Hera share price at 31/12/2023, corresponds to an annual return of 4.7%.
A strong focus on generating value for shareholders was thus confirmed. This increase is indeed consistent with the remuneration policy set out in the Business Plan, which foresees an increase in dividends coming to 16 cents per share by 2027, with net earnings per share growing by an average of 7% per year.
Sustainability Report: shared-value Ebitda and investments rise
The 2023 Sustainability Report was also presented during the Shareholders Meeting, showing that improvement in operating and financial indicators goes hand in hand with the Group’s focus on sustainability and creating value in the served areas. In 2023, shared-value Ebitda, which refers to business activities that also respond to the targets on the Global Agenda, rose to 776.0 million euro, up 16% compared to the 670.3 million euro seen in 2022 and corresponding to 52% of overall Ebitda. This result is in line with the path set out in the Business Plan and the goal of reaching over 1 billion euro in 2027 (equivalent to 64% of total Ebitda), along a path that generates concrete benefits for the communities served, alongside the company’s own development. This is also confirmed by the economic value distributed to stakeholders in the areas in which the Group operates, which in 2023 amounted to 2.3 billion euro, up 36%. Shared-value investments also increased, amounting to 558.4 million euro in 2023, equivalent to roughly 69% of total gross operating investments. Moreover, approximately 92% of the investments eligible for the Taxonomy are already aligned with the criteria set out by the European Regulation and thus contributing to environmental objectives including climate change mitigation, circular economy, water resource protection and pollution prevention.
Other resolutions approved
The Shareholders Meeting also approved a renewed authorisation for the Board of Directors to purchase treasury shares (and the procedures for their management) having a value of up to 240 million euro for 18 months, at the same time revoking the previous year’s resolution for the non-executed portion. The renewal of the authorisation to use treasury shares was requested in order to pursue the purposes permitted by law and accepted market practices, in order to increase value creation in transactions carried out by Group companies as well, for whom investment opportunities may arise, and for transactions involving the issue of financial instruments.
Lastly, the Shareholders Meeting approved the Report on remuneration policy and compensation paid, in line with international best practices.
Two new directors appointed
The Shareholders Meeting also resolved to reappoint Director Enrico Di Stasi for the remainder of the term of office of the Board of Directors. Di Stasi had in fact been appointed by co-optation by the Board of Directors on 27 September 2023, following the resignation of Director Lorenzo Minganti. Director Di Stasi confirmed that he did not meet the independence requirements of current regulations. The Shareholders Meeting also appointed Director Tommaso Rotella to replace Gabriele Giacobazzi, who passed away on March 3, 2024. Director Rotella has declared that he meets the independence requirements of current regulations and the next Board of Directors will appoint him as Vice Chairman.
Both Di Stasi and Rotella, appointed to replace Directors representing the majority list, will remain in office until the Shareholders' Meeting held to approve the 2025 financial statements.
Their CVs can be consulted at
https://eng.gruppohera.it/group_eng/corporate-governance/board-of-directors
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A collaboration agreement has been signed to support companies and local areas on their path towards the energy transition and circular economy, through innovative solutions that combine sustainability with competitiveness
Saipem, a global leader in the engineering and construction of major projects in the energy and infrastructure sectors, and Hera Group, one of Italy’s leading multi-utilities, have signed a strategic collaboration agreement, initially lasting three years, with the aim of supporting Italian companies in their energy efficiency, decarbonisation and circular economy journeys.
The partnership draws on Saipem’s engineering and technological expertise and Hera Group’s long-standing experience in waste, water and energy services. Both companies share a firm commitment to sustainability and emissions reduction.
The agreement between the two organisations aims to support companies and local areas in the energy transition, offering concrete, integrated solutions to reduce emissions, improve consumption efficiency and enhance resource recovery. Particular attention will be paid to the needs of the most energy-intensive industrial sectors, such as ceramics, glass, paper, chemicals, cement, steel and other industries characterised by processes that are difficult to electrify, all of which face an increasingly complex and challenging path towards Net Zero.
Through this partnership, Saipem and Hera Group will make their multidisciplinary expertise available, offering a comprehensive portfolio of technologies and integrated solutions for energy efficiency, renewable energy, hydrogen and carbon capture systems. The objective is to identify, on a case-by-case basis, the most effective energy transition pathway from a technical, energy and economic perspective.
Interested companies will be able to benefit from a free preliminary audit designed to assess the best possible decarbonisation pathway from an energy and economic standpoint, as well as support in evaluating incentive schemes available at national and European level to help make projects feasible. This represents a concrete contribution across the entire energy transition value chain, a rapidly evolving sector that is increasingly strategic for the competitiveness of the production system.
For Saipem, the agreement with Hera Group forms part of its strategy to support the energy transition of the most complex industrial sectors. The partnership enhances the Group’s engineering and technological expertise and its ability to integrate innovative solutions, strengthening Saipem’s role as a technology partner for Italian industry. It also broadens access to solutions for energy efficiency, renewables, hydrogen and CO₂ capture, in line with Saipem’s evolution towards increasingly sustainable business models.
This agreement is fully aligned with the path outlined by Hera Group in its Business Plan to 2029, which envisages €3 billion in investments dedicated to the energy transition and circular economy of local areas and businesses. Also moving in this direction is the cutting-edge project for the capture of CO₂ emissions at the Ferrara waste-to-energy plant, proposed by Hera Group as lead partner in collaboration with Saipem. The project was selected in October 2024 to receive funding under the fourth call for mid-scale projects of the EU Innovation Fund, confirming the multi-utility’s commitment to promoting advanced technologies and strategic partnerships to make a concrete contribution to national and European climate targets.
Hera Group
Hera Group is one of Italy’s largest multi-utilities and operates in the environment, energy and water sectors, with over 10,500 employees. More than 7.5 million citizens receive at least one service provided by the Group. Listed since 2003, it is among the top 40 Italian companies by market capitalisation, is included in the FTSE MIB index and has been part of the Dow Jones Sustainability Index since 2020, recently renamed the Dow Jones Best-in-Class Index.
https://eng.gruppohera.it/group_eng/
Saipem
Saipem is a global leader in the engineering and construction of major projects in the energy and infrastructure sectors, both offshore and onshore. Saipem is a “One Company” organised into business lines: Asset Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind and Sustainable Infrastructures. The company has five fabrication yards and an offshore fleet of 17 owned construction vessels and 12 drilling rigs, nine of which are owned. Always focused on technological innovation, the company’s vision is “Engineering for a sustainable future”. For this reason, Saipem is committed every day to supporting its clients on their energy transition journey towards Net Zero, using increasingly digital means, technologies and processes geared towards environmental sustainability. Listed on the Milan Stock Exchange, Saipem operates in more than 50 countries worldwide and employs around 30,000 people of over 130 nationalities.
Website: www.saipem.com