Hera Shareholders Meeting: 2024 financial statements approved and dividend increases to 15 eurocents
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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, met this morning in Bologna to approve 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.
Net debt stood at 3,963.7 million euro, as against 3,827.7 million euro at 31 December 2023, mainly as a result of growth in investments and M&A transactions, including the acquisition of 70% of TRS Ecology. The Group’s financial strength was fully confirmed, with the net debt / Ebitda ratio* at 2.50x, an improvement on both the third quarter of 2024 and the figure seen at 31 December 2023. These results prove, once again, the validity of the management policies implemented by the Group, whose solid equity and financial flexibility have enabled it to continue on its path of industrial growth, by increasing investments, successfully seizing market opportunities and continuing to generate value for the benefit of all stakeholders.
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. The dividend will be paid to shares recorded on 24 June 2025.
The entire dividend policy for the next few years will benefit from this increase, which once again confirms the Group’s strong focus on generating value for shareholders. This rise is also consistent with the remuneration policy set out in the 2024-2028 Business plan, which foresees growth in dividends coming to 17 eurocents per share by 2028, with net profit per share increasing by an average of 6% each year.
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.
As confirmation of Hera’s commitment to sustainability and creating value in the areas served, in 2024 shared-value Ebitda (CSV Ebitda), referring to business activities that also meet the sustainability objectives of the Global Agenda, rose to 856.6 million euro, up 10% from 776.0 million euro in 2023, and equivalent to 54% of the Group’s total Ebitda. This result is in line with the significant increase CSV Ebitda expected in the Business plan, projected to reach over 1,100 million euro in 2028, equivalent to 66% of the Group’s 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 local areas in which Hera operates, which reached 2.1 billion euro in 2024.
Shared-value investments also rose, up from 558.4 million euro in 2023 to 655.1 million euro in 2024, and accounting for about 76% of total gross operating investments. Moreover, 90% of the investments eligible for the Taxonomy of environmentally sustainable activities are already aligned with the criteria of this European regulation, and are thus able to make a substantial contribution to environmental goals including climate change mitigation, circular economy, water resource protection and pollution prevention.
Other resolutions approved
The Shareholders Meeting, in its ordinary session, approved the report on the remuneration policy and compensation paid, in line with international best practices.
A supplement to the remuneration of KPMG, the external auditing firm, was also approved due to changes in the scope of business, regulatory changes and revised auditing standards compared to those in force in 2022, when KPMG was appointed for the period 2024-2032.
Lastly, the Shareholders Meeting approved the renewal of the Board of Directors’ authorisation to purchase treasury shares (and procedures for their management), for an amount of up to 240 million for 18 months, with the revocation of last year’s resolution for the portion not executed. The renewal of the authorisation to use treasury shares was requested in order to pursue the purposes permitted by regulations and accepted market practices, in order to increase the creation of value, within the scope of transactions carried out by Group companies as well, for which investment opportunities may arise, and for transactions involving the issue of financial instruments.
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The €100 million project, launched in 2019, has been completed to support local regeneration and the circular economy.
Ravenna, June 16, 2026 – The Ravenna environmental hub, a center dedicated to the circular economy and industrial waste management, is now a reality. The project by Eni and Hera, and in particular their subsidiaries Eni Rewind and Herambiente, represents a model based on industrial regeneration and ecological transition: thanks to the environmental remediation activities carried out by Eni Rewind, which owns the area, and to a total investment of €100 million, a 26-hectare decommissioned site located within the Ravenna district has been restored and repurposed for a new industrial development initiative
The Ravenna Environmental Hub’s facilities will help reduce the structural shortage of plants for managing special waste in Italy, maximizing material recovery and reducing reliance on landfills. In particular, the HEA platform - a joint venture between HASI (Herambiente Servizi Industriali) and Eni Rewind - is one of the most significant integrated industrial waste management projects in Italy. The HEA platform is a multifunctional facility for the pretreatment of special waste, both solid and liquid, from industrial and remediation activities. It will replace the historic HASI storage platform in Ravenna, introducing more advanced technologies, greater capacity, and increased operational flexibility to meet the needs of Eni Group operations and the wider industrial market.
With a treatment capacity of up to 60,000 tons per year and a multi-line plant configuration, the platform enables a wide range of operations, from storage and repackaging to shredding and mixing. Its main objective is to maximise material recovery and reduce disposals, increasing the efficiency of operations and supporting economies of scale. The HEA platform is strategically important for Ravenna, a major industrial district and one of Italy’s largest producers of special waste. It contributes strengthening local treatment capacity, reducing transfers to facilities outside the region or abroad, and providing companies with more efficient local services. It supports competitiveness, operational continuity and the development of new circular supply chains as well.
The Hub also hosts Eni Rewind’s biorecovery plant, which can treat up to 80,000 tons per year of hydrocarbon-contaminated soils from remediation activities. The plant uses a biological aerobic biodegradation process to treat soils which can then be reused as backfill in remediation sites, minimizing the use of virgin materials. A dedicated chemical laboratory managed by Labanalysis Environmental Services, an Italian sector leader in which Eni Rewind holds a stake, will monitor processes and ensure compliance.
In addition, Plenitude, an Eni subsidiary, has also built a renewable energy production facility as part of the Hub. Operational since 2024, the photovoltaic plant has a capacity of 6 MWp and covers 11 hectares, with more than 10,000 installed panels. The plant optimizes energy production by using solar panels which can capture light on both sides and are mounted on mobile structures that follow the path of the sun throughout the day. These structures are installed on special supports placed directly on the impermeable cover built as part of the site’s permanent safety measures.
In April 2026, the project added an experimental energy storage system based on a new generation of vanadium flow batteries. The system has been completed and connected to the existing photovoltaic installation.
Eni Rewind began the overall redevelopment of the Ca’ Ponticelle area in 2019 implementing environmental remediation activities. In 2021, the works had been completed to permanently secure the area, which was once part of a petrochemical complex. In 2023, following the update of the Municipality of Ravenna’s Urban Plan, construction began on the new environmental infrastructure that is expected to become operational in July 2026.
“The Ravenna Environmental Hub is being developed on a site deeply rooted in Enihistory. We have transformed the decommissioned Ca’ Ponticelle site into an environmental platform capable of combining remediation, industrial redevelopment, and industrial competitiveness. The site is strategically positioned to meet market needs and will host Eni Rewind’s first two waste treatment plants, alongside the more than 40 plants we operate in Italy for water treatment” said Paolo Grossi, Chief Executive Officer of Eni Rewind. “Our environmental services offering is further enhanced by bioremediation plants for soil recovery and by the industrial waste pre-treatment platform, developed in partnership with Herambiente. The Ravenna Environmental Hub is a concrete example of sustainable development, and we hope it can serve as a replicable model in other regions to reduce infrastructure gaps and the environmental impact of waste management.”
“With the new multifunctional HEA platform within the Ponticelle Environmental Hub, the Herambiente Group is taking another step in strengthening its position in industrial waste management. The project is part of a development path aimed at creating a unique plant system in Italy that helps bridge the country’s infrastructure gap and reduce waste exports abroad,” said Andrea Ramonda, Chief Executive Officer of Herambiente. “The HEA facility, developed through the joint venture with Eni Rewind, is equipped with the best available technologies and is designed to maximize the recovery of materials and energy. It will efficiently manage flows related to Eni Group activities and those of the wider market, with tangible benefits for the competitiveness and operational continuity of the local production system. The project also strengthens Ravenna’s strategic role. Herambiente first launched its operations here, and the industrial zone is now part of a circular economy hub serving the industries across Central and Northern Italy.”
“The Ravenna Environmental Hub is the result of a vision that began to take shape in 2019, when we started working with Eni, Hera and all the stakeholders involved in the redevelopment of a strategic area such as Ca’ Ponticelle. Today this project shows how environmental regeneration can become a driver of industrial development, innovation, and skilled employment. Ravenna is reaffirming its role as a major national energy and industrial hub, with an increasingly strong focus on the circular economy and sustainability,” said Michele de Pascale, President of Emilia-Romagna Region. “The ability to reclaim disused areas, develop technologically advanced facilities, and create new supply chains linked to material recovery represents a key lever for the future competitiveness of the territory. This investment strengthens Ravenna’s role as one of Italy’s leading laboratories for ecological and industrial transition and offers new opportunities for economic and employment growth for the city, the regional production system, and future generations.”
“Today, from Ravenna, a strong message is being sent to the country through a project that combines industrial reconversion and environmental protection, representing a strategic infrastructure not only for our city but also for Italy. This is the model we would like to set the course for the future: fewer landfills, more recovery, more skilled jobs, and investments in photovoltaics, with a view to advancing the circular economy” said Alessandro Barattoni, Mayor of Ravenna. “Thanks to an investment of €100 million, a 26-hectare former industrial site, fully reclaimed from an environmental standpoint, will host new initiatives supporting industry, waste cycle management, and the ecological transition, under a model of competitiveness that combines productivity with environmental sustainability.”
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For more information about the HEA platform, visit the website: https://ha.gruppohera.it/herambiente-group/hea