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Herambiente acquires Vallortigara Group

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24/01/2025
Hera Spa
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Shareholders’ meeting
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CALENDAR OF CORPORATE EVENTS (*)

Online since 24-01-2025 at 14:48
Press releases
23/01/2025
Financial Results
Hera Spa
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Hera Group presents Business Plan to 2028

<p><em>Development, resilience and creating value shared with all stakeholders confirmed as the strategic pillars of the new business plan, which allocates more than 5 billion euro in investments to accelerate the achievement of ecological transition targets and further increase the resilience of networks and plants. The preliminary results for 2024, rising once again while maintaining financial leverage stable, indicate solid organic growth</em></p>
Online since 23-01-2025 at 08:00
Press releases
21/01/2025
Hera Spa
M&A

Industrial partnership between AIMAG and Hera strengthened

<p><em>The framework agreement, signed today by the parties, will reinforce AIMAG industrially and financially, with the aim of creating value through both synergies with the Hera Group and an investment plan with positive repercussions on the areas served. The agreement calls for a capital increase in kind in the coming months through the conferral to AIMAG by Hera of an approximately 45% stake in a Newco managing the integrated water service in the province of Modena, currently managed by Hera. Following the capital increase in kind, Hera’s stake in AIMAG will rise from the current 25% to roughly 41% and will acquire the industrial governance guaranteeing the achievement of the expected synergies, while the Public Shareholders will retain 51% of the AIMAG share capital..</em></p>
Press releases
16/01/2025
Hera Spa
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Hera: Top Employer for 16 years without interruption

<p><em>The Group has been confirmed as one of the best companies in Italy and worldwide in human resource management, thanks to its commitment to combining corporate growth, collective wellbeing and sustainable development</em></p>
Press releases
16/01/2025
Hera Spa
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Documentation relating to the issue of a bond published

Press releases
08/01/2025
Hera Spa
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Hera Group: new 500 million euro green bond

<p><em>Strong interest shown by international investors for the fourth “green” bond, maturing in 6.5 years, that will fund the Group’s strategic capex plan focused on sustainable and resilient management of the integrated water cycle, in the circular economy for regenerating resources and in the energy transition for developing renewables and energy efficiency. Subscriptions amounting to 5.5 times the amount offered were received.</em></p>
Press releases
16/12/2024
Hera Spa
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Update and increase of the EMTN Programme of Hera S.p.A.

Online since 16-12-2024 at 20:52
Press releases
16/12/2024
Hera Spa
M&A
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Hera Group acquires Estenergy shares from Ascopiave and increases its holding to 100% of share capital

Following Ascopiave’s decision to exercise its option to sell its 25% stake in EstEnergy, Hera Comm becomes the sole shareholder of the largest energy operator in the Northeastern Italy

Online since 16-12-2024 at 17:41
Press releases
14/12/2024
Hera Spa
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Hera Group awarded with the Oscar for Financial Reporting

In the “Listed and unlisted utilities and multi-utilities” category, the Hera Group was recognized for its high level of maturity and its awareness of the intrinsic value of the ESG reporting process

Online since 14-12-2024 at 09:40
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14/12/2024
Hera Spa
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Hera is the ESG world leader in its sector in the Dow Jones Sustainability Index ranking

The Group included in both the Dow Jones Sustainability Europe Index and the Dow Jones Sustainability World Index is the world’s most sustainable multi and water utility. This comes as further recognition of the company’s approach to creating shared value for all stakeholders

Online since 14-12-2024 at 09:16
Press releases
09/12/2024
Hera Spa
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Hera Group receives almost 10 million euro from the NRRP for agrivoltaics

This funding will make it possible to accelerate the Group’s strategic investments for developing innovative initiatives aimed at producing renewable energy without further land consumption, thus promoting the energy transition and decarbonisation in Emilia-Romagna. These projects, which are expected to produce almost 30 GWh per year, are part of the Hera Group’s Climate Transition Plan with a Net Zero target to 2050.

Online since 09-12-2024 at 10:38
Press releases
13/11/2024
Financial Results
Hera Spa
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Hera Group BoD approves 3Q 2024 results

The first nine months of the year closed with growth in the main financial indicators and in capital expenditures, in line with the first two quarters and the Business Plan targets. In particular, the increase in net profit attributable to Shareholders, coming to over 20%, confirms not only the Group’s solidity and the effectiveness of its multi-business industrial strategy, but above all its ability to combine internal growth with a positive return on invested capital and the creation of value for all stakeholders.

Online since 13-11-2024 at 12:31
Press releases
07/11/2024
Hera Spa
Shareholders’ meeting

COMMUNICATION OF THE OVERALL AMOUNT OF VOTING RIGHTS

(drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999)

Press releases
23/10/2024
Hera Spa
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Panasonic Industry and Hera Group strengthen their partnership for the international distribution of NexMeter

<p><em>The Japanese electronics leader consolidates its collaboration with the multi-utility to distribute the 4.0 gas meter NexMeter in the European market. Thanks to its advanced features in measurement and safety in case of dangerous leaks, proven performances in emission reduction and energy efficiency, the device plays an essential role in the decarbonization of consumption centers.</em></p>
Press releases
23/10/2024
Hera Spa
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Hera Group and Saipem's CO₂ capture project selected to receive nearly €24 million in funding from the EU Innovation Fund

<p><em>Saipem's Bluenzyme technology is expected to be applied to capture CO₂ emissions at the waste-to-energy plant of the subsidiary Herambiente in Ferrara. It will be the first industrial-scale example of CCS applied to a plant of this type in Italy. The project is one of the main decarbonization levers in the multi-utility's Climate Transition Plan to reduce internal emissions</em></p>
Online since 23-10-2024 at 07:38
Press releases
03/10/2024
Hera Spa
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Shareholders’ meeting

COMMUNICATION OF THE OVERALL AMOUNT OF VOTING RIGHTS

(drafted pursuant to article 85-bis, paragraph 4-bis, of Consob Regulation 11971 / 14 May 1999)

Press releases
02/10/2024
Hera Spa
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Hera Group: Investor Relations Director Jens Klint Hansen wins Rising IR Professional 2024 award

Press releases
24/09/2024
Hera Spa
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Hera Group ranks as world’s top multi-utility in the FTSE Diversity & Inclusion Index

<p><em>Included once again in the TOP 100 of the FTSE Russell (formerly Refinitiv) international index, the Group ranked 3rd in Italy and 19th globally among the 100 most inclusive and diversity-conscious companies. This comes as further recognition of the Group’s commitment to creating an inclusive and people-friendly corporate culture.</em></p>
Press releases
31/07/2024
Financial Results
Hera Spa
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Hera Group: 1H 2024 results approved

The consolidated half-year report at 30 June indicates growth in the Group’s main operating-financial indicators and shows its considerable financial solidity, fully in line with the targets set out in the Business Plan. With the approval of its Climate Transition Plan, with a Net Zero target by 2050, Hera has once again confirmed its commitment to the sustainable development of the areas it serves, creating value for all stakeholders.

Online since 31-07-2024 at 12:57
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31/07/2024
Hera Spa
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Hera Group Italy’s first multi-utility with a Net Zero target

The Hera Group’s climate change mitigation strategy is now enriched with the definition of the Climate Transition Plan and the goal of reaching Net Zero by 2050 as regards direct and indirect emissions.

Online since 31-07-2024 at 11:37

Asset Publisher

13/09/2021
Herambiente acquires Vallortigara Group

By acquiring this Veneto-based company, the Hera Group has further consolidated its leadership in the waste management sector. From this and two similar transactions completed in the first half of 2021 in the industrial waste treatment sector, a consolidated contribution to Hera’s Ebitda coming to 20 million euro is expected

The Hera Group has further strengthened its national leadership in the waste management sector, more specifically in industrial waste treatment. The Group, through its subsidiary Herambiente, has in fact acquired 80% of the Vallortigara Group, which provides services to industries, public administrations and citizens and manages a multifunctional platform for special waste treatment in Torrebelvicino (Province of Vicenza in the North-Eastern part of Italy).

The Torrebelvicino platform consists of three sections: a storage and selection plant for solid and liquid, hazardous and non-hazardous industrial waste, a stabilisation and solidification plant for industrial sludge and a chemical-physical plant for liquid waste. Currently, this facility treats approximately 75,000 tonnes of waste per year and, thanks to the investments planned by Herambiente, it will be able to increase and streamline its activities, in line with the principles of the circular economy.

The acquisition of the Vallortigara Group, which employs over 100 workers and has 4,000 customers,both in public and private sector, will enable the Hera Group to strengthen its presence in the Triveneto region. It will also expand its service to neighbouring territories, creating significant synergies with the Hera Group’s industrial centres in the provinces of Pisa and Ravenna, which have been operational for some time. The current owners (the Vallortigara family) will remain within the new corporate structure.
Overall, through the company Hasi (Herambiente Servizi Industriali), Herambiente now has 18 multi-purpose sites dedicated to treating waste produced by businesses, with 1.3 million tonnes of industrial waste treated each year.

Following the two transactions in the same field, industrial waste treatment, carried out in the first half of 2021 – the acquisition of 70% of the company Recycla in Friuli and 31% of the company SEA in the Marche region – Herambiente’s development plan thus continues, confirming its position as the country’s leading operator in the sector, able to provide across-the-board solutions in industrial waste treatment to an increasing number of new customers. In fact, all the acquisitions made by Herambiente also contribute to the objective of strengthening the geographical presence by increasing the penetration at local level, thus improving the efficiency and quality of services to local businesses and generating positive returns in the areas served, along with economic benefits for customers.

“This new transaction is in line with the significant path of strategic development we are implementing in the industrial waste sector”, comments Tomaso Tommasi di Vignano, Executive Chairman of Hera Group. “When fully operational, thanks to the three acquisitions made in 2021, we will treat more than 300,000 additional tonnes of industrial waste produced by 3,300 new industrial customers every year, with a contribution to the Hera Group’s Ebitda coming to roughly 20 million euro, in addition to the value of the synergies expected from the integrations.”

Online from 13 September 2021 at 11:02:00

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24/01/2025
Hera Spa
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CALENDAR OF CORPORATE EVENTS (*)

2025-01-24 centrata In accordance with art. 2.6.2 (Required Reporting) of the “Rules of the markets organised and managed by Borsa Italiana S.p.A.", please find below our annual calendar of corporate events: 1. 26 March 2025 – Meeting of the Board of Directors to approve the previous year’s preliminary financial statements. 2. 30 April 2025 – Shareholders’ Meeting to approve the previous year’s financial statements. 3. 14 May 2025 – Meeting of the Board of Directors to approve additional financial information for the period ending on 31 March 2025. 4. 30 July 2025 – Meeting of the Board of Directors to approve the half-year financial report as at 30 June 2025. 5. 12 November 2025 – Meeting of the Board of Directors to approve additional financial information for the period ending on 30 September 2025. The Board of Directors, as communicated for the previous financial year and in line with the past, in order to guarantee regularity in the information provided to the financial market and investors, has decided to continue preparing and publishing this information quarterly, on a voluntary basis and in line with current regulations. (*) barring changes 14:48:00 sede Hera 110x150.jpg
Online dal 24/01/2025 alle ore 14:48
23/01/2025
Financial Results
Hera Spa
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Hera Group presents Business Plan to 2028

2025-01-23 Development, resilience and creating value shared with all stakeholders confirmed as the strategic pillars of the new business plan, which allocates more than 5 billion euro in investments to accelerate the achievement of ecological transition targets and further increase the resilience of networks and plants. The preliminary results for 2024, rising once again while maintaining financial leverage stable, indicate solid organic growth centrata BUSINESS PLAN TO 2028, OPERATING AND FINANCIAL HIGHLIGHTS Five-year gross investments at 5.1 billion euro Return on net invested capital at 9.5% Structural growth in Ebitda reaching 1.7 billion euro EPS to rise by approximately 6% CAGR Dividends up 21% (rising to 17 cents per share) and average annual yield at roughly 5% Average annual total shareholder return (TSR) at 11%. Net debt/Ebitda stably below 3x over the period covered by the plan and projected at 2.8x in 2028 BUSINESS AND SUSTAINABILITY HIGHLIGHTS A portfolio balanced between regulated and free-market activities maintained, generating resilient results and capable of grasping emerging opportunities 2.6 billion euro in investments aligned with the European Taxonomy for Sustainable Investments (96% of eligible investments) Shared-value investments amounting to 77% over the entire five-year Plan 45% increase in shared-value (CSV) Ebitda over the period covered by the Plan, reaching 66% of total Ebitda in 2028 Commitment to reduce total CO2 emissions by 37% within 2030 and Net Zero by 2050 confirmed 25% of total investments will contribute to digitisation and innovation, 47% to increasing the resilience of infrastructures to climate change and 60% to the ecological transition 10.8 billion euro in economic value distributed over the 2024-2028 five-year period to stakeholders in the areas in which the Group operates 2024 PRELIMINARY RESULTS, HIGHLIGHTS Ebitda exceeds 1.55 billion euro (+4% vs 2023) Net debt/Ebitda ratio below 2.6x (stable compared to 2023) Dividends forecast at 15 eurocents (+7.1% vs 2023), higher than expected in the previous Plan The Hera Group’s Board of Directors, chaired by Executive Chairman Cristian Fabbri, reviewed the preliminary results for 2024 results and approved the Business Plan to 2028. Cristian Fabbri, Executive Chairman of Hera Group: "A 5.1-billion-euro investment plan, rising by 46% compared to the previous five-year period and supporting sustainable industrial development that increases the resilience of our infrastructures, will allow us to target a 2028 Ebitda coming to 1.7 billion euro, supported by visible growth, both internal and external. This growth fully meets the objective of creating shared value for all stakeholders: profits will indeed increase by 30% (from 2023 to 2028), as will the contribution coming from sustainable activities to Group Ebitda, reaching 66%. The improvement in the objectives of the new Business Plan, along with the positive forecasted for 2024, allow us to revise our dividend policy upwards, proposing a 7% increase, compared to 2024, as early as 2025, reaching 21% by 2028. The economic value distributed over the 5 years covered by the Plan to stakeholders in the areas in which we operate also grows, to almost 11 billion euro." Orazio Iacono, CEO of the Hera Group: “For 2024, we expect to close with Ebitda over 1.55 billion euro, a result supported by all businesses in our portfolio, especially structural activities. This is even more significant when compared to the already outstanding 2023, which was affected by several non-recurring revenue opportunities, above all in the energy sector. This performance allowed us to fund an increase in investments and to further improve our financial solidity, with a net debt/Ebitda ratio below 2.6x, stable compared to the previous year. These good results are perfectly consistent with the new Business Plan, which forecasts 5.1 billion euro in gross investments, of which roughly 3 billion euro will be dedicated to the green transition in the areas served. The significant financial commitment required to support the investment plan, benefitting industrial development, will in any case be financed by a strong cash generation, which will also make it possible to keep financial leverage below the prudential level of 3x through to 2028, confirming our financial solidity and creating further flexibility to seize future opportunities.” 2024 PRELIMINARY RESULTS The year that just ended saw a positive performance of the industrial margins of all businesses in the portfolio, with Ebitda expected to exceed 1,550 million euro, as against 1,495 million euro in 2023. The “structural” growth observed in the preliminary results, mainly supported by factors involved in organic growth, is even more significant when compared to 2023 Ebitda adjusted for non-recurring contributions, totalling roughly 100 million euro, at 1,395 million euro. A robust cash generation, also supported by efficient working capital management, allowed the net debt/Ebitda ratio to remain below 2.6x, in line with the 2023 result. Considering these figures, the dividend policy was revised upwards: the Board of Directors is expected to propose a dividend payment of 15 eurocents per share, up 7.1% with respect to the 2023 coupon paid in 2024, to be compared with the 3.5% growth forecast in the previous Business Plan (14.5 eurocents). BUSINESS PLAN TO 2028 The new Plan’s strategic framework confirms creating sustainable value benefiting all stakeholders thanks to a balanced business portfolio as the Hera Group’s goal, developing resilient industrial assets even in a scenario marked by continuous volatility and an increasing frequency of extreme weather events linked to climate change. Creating value: a target of 1.7 billion euro for 2028 Ebitda, with a 30% rise in profits The Group’s strategy focuses on creating value through four main growth levers: an efficient allocation of capital to investment projects with the best sustainability-risk-return profiles, expansion of market shares, an enlarged scope of operations thanks to M&A transactions and efficiency gains in both operating and financial costs. The plan aims to generate value benefiting all stakeholders, through financial, environmental and social sustainability objectives. The plan envisages a structural growth of Ebitda by 475 million Euro to 2028 with a CAGR of +7% exactly reflecting the targets set out in the previous Business Plan. This structural growth will more than compensates the eventual shortfall during the period covered by the Plan of some temporary business opportunities of the amount of 170 million euro and drive in any case Group Ebitda to 1,700 million euro in 2028, up from the previous target of the Plan to 2027. Organic growth, accounting for 375 million euro of the Ebitda generated over the period covered by the Plan, is the main lever and will be fuelled by the investment plan for development, expansion in volumes and customers in liberalised markets, and the efficiencies and tariff adjustments set by the Authority on all regulated activities. The Plan also foresees a contribution from M&A transactions for about 100 million euro of Ebitda, in line with the Group’s track record in the consolidation activity on the Italian highly fragmented markets, that has underpinned the Group expansion in core business exploiting significant synergies creating value. The framework agreement signed with Modena-based AIMAG, in which Hera has been a shareholder since 2009, with a 25% stake, strengthens the industrial partnership between the two parties and provides, as early as today, high visibility on M&A targets of the business plan to 2028. Indeed, the Business Plan drawn up by AIMAG expects to improve Ebitda to 77 million euro by 2028, without considering the synergies with Hera (for more details, see the recently published dedicated press release). The business plan highlights the strategy to further strengthen all three of the Group’s core businesses, maintaining their balance, applying the management policies that have guaranteed so far a strong resilience in results and uninterrupted growth within all scenarios experienced over the past two decades. This structure will see regulated activities remaining at over 60% of the invested capital in 2028 and liberalised activities accounting for the remaining 40% of the portfolio. The growth targets defined lead to a return on invested capital (ROI) of 9.5% to 2028, in line with the previous Business Plan. Earnings per share are expected to rise by an average of about 6% per year, thus supporting the increase in dividends, set to reach 17 eurocents by 2028 (+21% compared to the last dividend paid). At current Hera share prices, the dividend policy guarantees an average yield of approximately 5% and offers full visibility on the prospective dividends in each year of the Plan. The total shareholders return, which takes into account both the trend in expected profits and the dividend yield, is therefore confirmed at an average annual rate of about 11%. Focus on the sustainable development of the entire regional ecosystem, with steady growth in shared-value Ebitda, at over 1.1 billion euro in 2028 (66% of total Ebitda) The Hera Group has included initiatives in its Plan that have adequate profitability and are consistent with operating-financial balance, which at the same time guarantee that sustainable value creation is enhanced. By maintaining a focus on decarbonisation, circular economy, resilience and innovation, “shared-value Ebitda” is expected to increase significantly, exceeding 1,100 million euro in 2028, as against 776 million euro in 2023, reaching 66% of the Group’s total Ebitda and respecting the target of 70% in 2030. In the 2024-2028 five-year period, shared-value Ebitda will increase by 45%, reflecting the growing weight of initiatives that not only generate margins for the company, but are also in line with the goals on the UN Agenda. On the path towards a “just transition”, with a large number of initiatives aimed at the prosperity of its reference communities and a strong focus on social equity, Hera will continue to generate positive effects for all stakeholders, with an estimated economic value distributed over the five years covered by the Plan coming to 10.8 billion euro and investments dedicated to the green transition amounting to roughly 3 billion euro. Ongoing interventions are aimed, on the one hand, at making the Group’s assets and processes more resilient to increasingly frequent and intense exogenous phenomena and, on the other, at contributing to carbon neutrality and the energy transition. With regard to the Hera Group’s commitment to work towards decarbonisation, in line with the 37% emission reduction targets by 2030 (compared to 2019) validated by the prestigious international network Science Based Targets initiative (SBTi), in its Climate Transition Plan the Group has set itself the goal of achieving Net Zero emissions by 2050. As regards the regeneration of resources, the Hera Group confirms its adoption of circular business models, with the goals of increasing recoverable wastewater (up to 14.4% of total wastewater in 2028), reducing internal water consumption (-24% in 2028) and increasing recycled plastics by 165% in 2028 (compared to 2017, thus exceeding the previous target 2030 of +150%). Sorted waste collection is expected to increase in both quality and quantity, going from 72.2% in 2023 to 77.7% in 2028. Lastly, the application of technologies and innovations to the Group’s industrial activities also plays an essential role in the new strategic document: creating new business models and introducing pioneering solutions will, in fact, enable the Group to gain a competitive advantage and promote continuous improvement in efficiency and quality in its target sectors. Gross investments at over 5 billion euro, with financial leverage remaining below 3x Over the 2024-2028 period, the Business Plan calls for total investments amounting to 5.1 billion euro. This financial commitment is 6% higher than the one included in the previous strategic document and 46% higher than the investments made over the last five years. Indeed, in addition to the 4.6 billion euro of investments directly financed by the Hera Group, almost 500 million in resources will come from the PNRR and other institutions. Of these investments, 61% will be earmarked for regulated businesses, while the remaining 39% will go towards fuelling the growth of free-market businesses. More than half of the investments (2.5 billion euro, or 54%) will be dedicated to networks. Furthermore, approximately 8% of the resources will be used to seize external growth opportunities. In line with the content of the European framework, the Group estimates that operating investments coming to 2.6 billion euro (or 96% of eligible investments) will be aligned with the European Taxonomy for sustainable projects, thus fully accessing subsidised sustainable finance instruments, with benefits also in terms of financial costs. 77% of the investment plan (or 4 billion euro) will go towards initiatives capable of creating “shared-value Ebitda”. These investments will be allocated as follows: 2 billion euro, or 39% of the planned investments, will help reduce the consumption of natural resources through the development and adoption of circular economy solutions and models; 1.1 billion, or 22% of the resources allocated in the Plan, will reduce or contain climate-changing emissions mainly through the development of renewable plants, energy efficiency initiatives and projects supporting the transition of our stakeholders; 2.4 billion euro, or 47% of total investments, will be dedicated to increasing the resilience of the assets under management and activities intended to face increasingly frequent and intense exogenous phenomena; 1.3 billion, or 25% of the investments, will go towards applying and developing pioneering technologies and introducing innovative solutions to achieve a competitive advantage in all industrial sectors covered, helping to seize market opportunities and ensure financial sustainability, efficiency and quality. The major financial commitment required to support the investment plan, benefiting industrial development and expanding the scope of operations with external growth transactions, will in any case be fully financed by a significant cashflow, which will also allow financial leverage to be kept below the prudential level of 3x, with a target of 2.8x by 2028, confirming the Group’s financial solidity and creating further flexibility that can be used to seize additional growth opportunities on the Italian attractive reference markets. Energy: a partner for the energy transition of our customers; target of 4.5 million customers by 2028 Ebitda for the energy area is expected to increase from 549 million euro in 2023 (calculated net of a non-recurring contribution amounting to 100 million euro, mainly due to the “super-ecobonus”) to 576 million euro in 2028. This target is based on structural growth coming to 177 million euro, which is able to more than offset the hypothesis of decreased margins for “last resort markets” clients, envisage a further growth in Ebitda results even compared to the extraordinary values of 2023. This result will be achieved thanks to the normalization of the “shaping costs” incurred in 2023, the expansion of the customer base, and an increase in renewable energy production, which confirms the Hera Group’s role as a partner in the energy transition of the communities served. To support the strategy in the energy sector, 1 billion euro in overall investments has been earmarked for the 2024-2028 five-year period, equivalent to 21% of the total investments included in the Plan. The Group, which is now Italy’s third largest operator by number of customers, intends to continue developing its customer base, starting from 3.8 million in 2023 and reaching 4.5 million by 2028, with a substantial growth in electricity customers, which will reach 2.4 million, surpassing the number of gas customers, partially thanks to the significant contribution coming from the 7 lots awarded in the Gradual protection service tender in 2024. In a market scenario that sees customers increasingly attentive to environmental sustainability and containing their energy costs, a more consistent demand for decarbonisation solutions has emerged for both retail customers and companies and public administrations, increasing development opportunities for the Group’s ESCOs through integration and differentiation of the offer by segment, from energy requalification and efficiency interventions to services for sustainable mobility, public lighting and smart cities for public administrations, as well as integrated services for industrial customers and condominiums. In order to achieve its ambitious decarbonisation targets, in the area of photovoltaic power generation, the Hera Group has confirmed its goal of installing over 300 MW by 2028, with preference going to plant solutions at consumption centres that do not involve further land consumption, such as agrivoltaic plants and the numerous projects being implemented on landfills or plants in the Group’s water cycle, as well as installations at customers’ premises, including Renewable Energy Communities. The construction of the two Hydrogen Valleys in Modena and Trieste continues, aimed at producing about 800 tonnes per year of green hydrogen, contributing to the decarbonisation of companies and, more generally, the local areas in question, and at the same time redeveloping disused areas. Waste management: leadership strengthened by expanding market share through commercial development, infrastructure development and M&As Ebitda for the waste management area is expected to rise from 353 million euro in 2023 to 470 million euro in 2028, thanks to development fuelled by both organic and external growth. The increase in profits will be driven by an expanded market share, supported by the development and diversification of the asset platform, partially thanks to an investment plan allocating approximately 1.1 billion euro to the waste management area. Thanks to more than 100 state-of-the-art plants (with 5 new facilities in the pipeline to 2028) and new partnerships, the multi-utility expects to reach a total of approximately 9.6 million tonnes disposed of and marketed by 2028, compared to 7.7 million tonnes in 2023 (+24% of waste treated). In the urban waste sector, also as a result of the recently renewed long-term concessions, the Group’s aim is to make this service to local areas more complete and efficient through innovation, new devices and infrastructures, and the involvement of citizens and stakeholders. The validity of the Group’s strategy in this area is confirmed by the fact that, at present, it has already achieved targets for the recycling rate and the portion of waste sent to landfills, well ahead of the EU deadlines, and will continue to pursue these excellent results in the period covered by the Plan. More specifically, by 2028 municipal waste conferred to landfills will be less than 3%, as against the European target set at 10%, the recycling rate will come to 64%, compared to the EU target of 60% by 2030, and the packaging recycling rate will reach 68%, compared to the EU target of 70% by 2030. In the area of waste treatment, in a country severely impacted by a shortage of plants, the Hera Group has managed over time to consolidate the largest and most modern set of plants in Italy, establishing itself as the main operator in this sector, with a market share of around 10% and ample room for further growth given the fragmented nature of the competition, which mainly consists of small, non-integrated operators. In this context, precisely by leveraging the competitive advantages it has built up over time, the Group’s new Business Plan points towards a strengthened leadership and an expanded market share, accompanying the needs of an increasingly diversified and qualified customer base (first and foremost, large companies). To this end, the Plan foresees an expansion of the Group’s set of plants, further development in its commercial offers and an expanded customer base, partially achieved by leveraging its activities abroad. The set of plants, which already treats municipal waste and special waste from the Italian production network, will be expanded, for example, with the construction of the new line of the waste-to-energy plant in Padua, full operations of the F3 plant in Ravenna, and the expansion of liquid waste treatment capacity. As regards commercial development, note the opportunities for important partnerships with leading operators in the national and international production sector, such as the recent newco CircularYard established with Fincantieri. Opportunities for collaboration will also drive development in the remediation field, in this case with entities in the petrochemical industry, in which the Hera Group has significantly strengthened its market leadership with the integration of the Modena-based ACR: this business segment shows a lively demand, supported by the PNRR and the country’s need to remediate over 13 thousand sites. Resource recovery and regeneration activities complement those involving treatment, and firstly concern plastics, in which the Group stands out for the high quality of its secondary raw material products. The increasing European legislation (SUP and PPWR) will determine a progressive growth in demand, for which the Plan calls for a doubling of the plants in Novara for the regeneration of PE and PET as well as innovative projects, such as the plant for carbon fibre recovery in Imola, which will be inaugurated soon, and the one for the regeneration of high-quality rigid plastics under construction in Modena. Networks: primary role as infrastructure operator confirmed by a robust investment plan and excellent performances Ebitda for the network sector is expected to grow by 155 million euro, going from 466 million euro in 2023 to 621 million euro in 2028. The regulated networks business, which represents the Hera Group’s main asset in terms of invested capital, will benefit from a substantial investment plan amounting to approximately 2.5 billion euro (54% of total investments) by 2028, in order to further enhance the resilience and digitalisation of infrastructures, consolidate efficiency in operations and maintain leadership in terms of the quality of service provided. Of these resources, about 1.4 billion euro will be allocated to the integrated water cycle, while almost 1 billion euro will be invested in gas and electricity distribution. The strategic initiatives of the Group, Italy’s second-largest operator in the water cycle, include works to guarantee stability and security of supply, technological solutions to reduce losses and ensure more efficient distribution, the upgrading of sewage systems, and the promotion of reuse and regeneration of this resource to support the sector’s ecological transition. This includes collection, storage and interconnection works, the project for the Trieste aqueduct, water management initiatives with the completion of the installation of smart meters to encourage more efficient and aware consumption, the districtisation and reclamation of the aqueduct network and the use of predictive maintenance to reduce losses, ongoing work on the Rimini Seawater Protection Plan (the largest sewage reclamation project ever carried out in Italy, with 270 million investments in total from 2013 to 2028), and the new biodryers in the Cà Nordio plant in Padua for greater energy savings in sewage sludge treatment. To enable the electrification of local areas, instead, the Group plans to upgrade the grid, thus ensuring reliability and flexibility of assets as well as service quality and continuity, including the support of digital technologies and innovative initiatives such as the deployment of 2G smart metering and new management technology models with a predictive capacity. The goal for 2028 is to increase the grid’s hosting capacity by 30% compared to 2023, to reach over 400 MW in 2028, partially thanks to initiatives such as the development of primary and secondary substations. Projects for smart grids, such as the one serving the port and metropolitan area of Trieste, also move in this direction. To promote the decarbonisation of the gas sector, Hera will focus on enabling networks to transport green molecules as well, as in the experimentation currently underway in the municipal distribution network of Castelfranco Emilia, near Modena. At the same time, the Group’s attention will also go to innovative solutions. Among these, the Bologna power-to-gas plant, connected to one of the main water cycle purifiers, will make it possible to use purified water to produce first renewable hydrogen and then biomethane, using waste oxygen for purification processes. The drive towards innovation will also come from the installation by 2028 of around 523 thousand NexMeter gas smart meters, patented by Hera in 2019, with advanced safety functions in the event of leaks or earthquakes and which can also be used for blends with green gas. These will be accompanied by around 465 thousand second-generation (2G) electricity meters, which will enable more precise measurement of consumption, and over 640 thousand smart meters for the water cycle. Lastly, among the assets enabling the energy transition of the areas served, the Group has included in its strategy additional development of district heating. The overall cumulative net investments in district heating amount to 124 million euro, accompanied by 49.5 million euro in PNRR/MASE contributions, for a total of approximately 174 million euro, to develop and adapt the distribution network and optimise management, making the systems more efficient and reducing the carbon footprint of the heat produced. These projects for developing district heating systems in Bologna, Ferrara and Forlì are a concrete example of the Group’s commitment to decarbonising the areas served and will contribute to a reduction in annual emissions coming to 19,000 tonnes of carbon dioxide compared to 2023. Hera Group presents Business Plan to 2028.pdf 08:00:00 sede Hera 110x150.jpg
Online dal 23/01/2025 alle ore 08:00
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21/01/2025
Hera Spa
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Industrial partnership between AIMAG and Hera strengthened

2025-01-22 The framework agreement, signed today by the parties, will reinforce AIMAG industrially and financially, with the aim of creating value through both synergies with the Hera Group and an investment plan with positive repercussions on the areas served. The agreement calls for a capital increase in kind in the coming months through the conferral to AIMAG by Hera of an approximately 45% stake in a Newco managing the integrated water service in the province of Modena, currently managed by Hera. Following the capital increase in kind, Hera’s stake in AIMAG will rise from the current 25% to roughly 41% and will acquire the industrial governance guaranteeing the achievement of the expected synergies, while the Public Shareholders will retain 51% of the AIMAG share capital.. centrata Today, the Boards of Directors of AIMAG S.p.A. and Hera S.p.A. agreed to sign a framework agreement that will introduce a new phase in the project for an industrial partnership between the two parties. The AIMAG Group, owned by 21 municipalities located in the provinces of Modena and Mantua, operates in the waste management, water cycle and energy sectors; in 2023, its consolidated turnover amounted to 400 million, with Ebitda at over 60 million and a net financial position at 210 million euro. AIMAG can rely on a customer base in the energy supply business coming to over 230,000, along with 121,000 POD in gas distribution, 72,000 citizens served and 2,000 km of networks in the integrated water cycle, and a waste collection and treatment business serving over 176,000 citizens in 12 municipalities. Their geographical proximity and a perfect match of the portfolio mix strengthens the synergic prospects of the industrial partnership between AIMAG and the Hera Group. The transaction will be subject to the usual conditions foreseen for this type of operation and to all communications and approvals by the competent authorities and bodies. The parties expect to complete the transaction within June 2025. The path includes, among other things, a capital increase in kind consisting of a conferral by Hera to AIMAG of an approximately 45% stake in a Newco to which the activities pertaining to the integrated water service in the province of Modena, currently owned by Hera S.p.A., will be transferred, concerning the management of 7,300 km of networks serving approximately 470,000 thousand citizens. As of now, a single hub for Modena’s water cycle will thus be formed, making possible synergies and integrated developments of the current systems and enabling greater investments and significant improvements in the resilience of the water network. The capital increase was defined by valuing AIMAG at roughly 7x its 2024 Ebitda and the newco at approximately 1.2x the RAB, and as a result Hera’s stake in AIMAG is expected to rise from 25% to approximately 41%, while the Public Shareholders will retain a majority with 51%. This reinforcement of AIMAG’s capital structure, along with the industrial and financial synergies obtained through Hera’s industrial governance, implying its consolidation line by line in the accounts, will enable an investment plan in the 2025-2028 period amounting to a total of over 250 million euro, for AIMAG and the Newco, to enhance the infrastructures of all portfolio activities, with consequent positive effects for all stakeholders. For the transaction, Hera was assisted by the Lazard team for the financial part and by the Grimaldi law firm for the legal part, while AIMAG made use of PwC as strategic and financial advisor for the operation, of Professor Marco Maria Mattei as advisor for the valuation and, for the legal part, of Professor Lawyer Tommaso Bonetti of the Bonetti law firm and of the BLF firm.   PR - AIMAG and Hera partnership strengthened.pdf 19:00:00 sede_hera_110 (2).jpg Download Press Release sede_hera_110 (2).jpg
Online dal 21/01/2025 alle ore 19:00
16/01/2025
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Hera: Top Employer for 16 years without interruption

2025-01-16 The Group has been confirmed as one of the best companies in Italy and worldwide in human resource management, thanks to its commitment to combining corporate growth, collective wellbeing and sustainable development centrata For the sixteenth consecutive year, the Hera Group has been certified as a Top Employer for its labour policies. This is a remarkable achievement, since this certification is among the most significant recognitions internationally given to companies that meet high standards in human resource management by the Top Employers Institute, a global certifier of corporate excellence in HR (Human Resource), based in the Netherlands. Top Employers Certification is awarded to companies that meet the high standards required by the HR Best Practices Survey. The analysis, which is highly attentive and increasingly selective from year to year, covers 6 macro-areas related to human resource management and examines in depth 20 different topics and the respective best practices, including: recognition of people and their professionalism, work environment, career opportunities, training and development, valuing diversity, fairness and inclusion, and well-being. This year the Top Employers programme recognised and certified 2,429 Top Employers in 125 countries worldwide, including the Hera Group. The main strengths that enabled the Hera Group to achieve this important result are: safety, procurement, sustainability, inclusion, wellbeing and people development. In these areas, investments coming to 60 million euro have been planned for the 2024-2027 four-year period in staff training, a third of which will be dedicated to safety. 2,600 new hires are also foreseen along with many initiatives for the development of new skills, to support parents, frail people, caregivers and to valorise different abilities. The Group’s investment in and commitment to the growth and wellbeing of its people includes combating gender-based violence and promoting inclusion. The new elements of 2024 included the Good Work Deal, signed in July with the trade unions, a forward-looking and virtuous document that provides a new reference point nationwide, capable of combining corporate growth, sustainable development and collective wellbeing, and that encompasses the good practices of valuing people accumulated over the years, making them a resource that is shared with the trade unions. This document was drafted using an inclusive language, ensuring it could be accessed in digital format as well to make it usable for blind or visually impaired persons using screen readers. The foremost novelty in the Good Work Deal lies in the calculation of the performance bonus, which is partially based on the Hera Group’s ability to increase shared value (in addition to the progressive annual increase in the same bonus, amounting to 225 euro per year over the 2025-2027 three-year period). This is accompanied by a series of people development actions in terms of evolving working methods, accelerating process digitalisation and increasing the value of sustainability and circularity. The good quality of life of the Group’s over 10,000 employees is also supported by its extensive welfare plan, offering them a wide range of services, in which the company invests 18 million euro every year. The most significant initiatives include free psychological support sessions, personalised diet plans and sessions with physiotherapists and posturologists, health promotion and prevention programmes with free check-ups and screenings, initiatives to support parenting and childhood education, and sustainable mobility. David Plink, CEO of the Top Employers Institute “Through advances in technology, economic change and the evolving social landscape, it is inspiring to see people and organisations challenge themselves. This year, the Top Employers Certification Programme highlights the dedication of our Top Employers, who continue to set high standards through world-class HR strategies and practices, promoting growth and well-being while improving the working world. It is with great pride that we celebrate these leaders and teams, capable of putting people at the centre: the Top Employers 2025!” Cristian Fabbri, Hera Group Executive Chairman “This recognition confirms our constant commitment to enhancing our main resource: people, with their skills, professionalism and uniqueness. Our way of being a company is based on respect for their needs and satisfaction, projected towards a path of constant improvement in offering every day services that are indispensable to the lives of citizens and companies.” Hera Top Employer for 16 years without interruption.pdf sede Hera 110x150.jpg
Online dal 16/01/2025
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16/01/2025
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Documentation relating to the issue of a bond published

2025-01-16 centrata Please note that the deed of execution dated 8 January 2025 relating to the issue by Hera S.p.A. of a 500 million euro Green Bond is available to the public at its registered office, on the website www.gruppohera.it, and on the authorised storage mechanism 1INFO (www.1Info.it). 20250116 Documentation relating to the issue of a bond published.pdf 14:26:00 sede_hera_110 (2).jpg Download Press Release sede_hera_110 (2).jpg
Online dal 16/01/2025 alle ore 14:26
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08/01/2025
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Hera Group: new 500 million euro green bond

2025-01-08 Strong interest shown by international investors for the fourth “green” bond, maturing in 6.5 years, that will fund the Group’s strategic capex plan focused on sustainable and resilient management of the integrated water cycle, in the circular economy for regenerating resources and in the energy transition for developing renewables and energy efficiency. Subscriptions amounting to 5.5 times the amount offered were received. centrata The Hera Group has started the year with a new milestone in sustainable finance. The first Italian company to issue a green bond in 2014, today Hera successfully launched its fourth green bond, covered by its “Euro Medium Term Note Programme” (EMTN) bond issue plan, recently updated and increased in its maximum amount. This bond respects the Group’s Green Financing Framework (GFF), prepared on the basis of ICMA principles, aligned with the criteria of the European Taxonomy and certified by an independent firm. The issue attracted significant interest from international investors, receiving orders for approximately 2.75 billion euro, almost 5.5 times the amount offered. With this issue, Hera has once again given the market an opportunity to finance the Group’s strategic projects aimed at the green transition and aligned with the Taxonomy, once again confirming itself internationally as a reference company for sustainable finance. “We are more than satisfied with the result of the placement, far exceeding expectations, of this fourth green bond: it makes our financial structure even greener and further strengthens the capital structure, making it even more resilient, as well as the credit profile of the multi-utility, in line with our Business Plan, which also calls for 2.5 billion euro in investments aligned with the European taxonomy, 98% of those eligible,” states Orazio Iacono, CEO of the Hera Group. “More specifically, this new issue provides additional stimulus for activities that create shared value, reducing the carbon footprint and regenerating resources, guaranteeing resilience in the services managed and thus making our businesses ever more sustainable. These commitments are already defined by the Group’s Green Financing Framework and the Climate Transition Plan with a Net Zero by 2050 target. This new green bond therefore confirms our goal of creating long-term value for our shareholders and our role as a multi-utility supporting the green transition for citizens, institutions and businesses.” The characteristics of the Group’s fourth green bond and the areas financed The fourth green bond of Hera Group (rated Baa2 with a stable outlook by Moody’s and BBB+/A-2 with a stable outlook by Standard & Poor’s), amounts to a total of 500 million euro, repayable in 6.5 years with a 3.250 % coupon and a 3.396% yield. The settlement date of the new issue has been scheduled for 15 January 2025. This green bond consists of senior, non-convertible, unsecured notes, intended for circulation among qualified investors. The new green bond is also expected to be assigned a rating in line with Hera’s. The transaction saw significant participation coming from international investors (in particular, Great Britain, France and Germany), mainly green and sustainable, confirming the interest towards the Group coming from abroad. The bond is expected to be listed, as of the issue date, on the regulated market of Euronext Dublin and, at the same time or at a later date, on the regulated market of the Luxembourg Stock Exchange and on the ExtraMOT PRO multilateral trading system managed by Borsa Italiana. The funds raised will be used to finance or refinance numerous projects, already ongoing or included in the Group’s Business Plan, selected on the basis of the Green Financing Framework (GFF), which work towards one or more of the goals on the UN’s 2030 Agenda for Sustainable Development (SDGs), subdivided into 3 areas: integrated water cycle (aligned to SDGs 6, 13 and 14): construction and extension of infrastructures for water collection, treatment and supply, with projects for wastewater collection and treatment; circular economy, pollution prevention and control (meeting SDGs 11, 12 and 13): advanced projects in plastics regeneration, anaerobic digestion of organic waste for the production of compost and biomethane, and waste collection and transport systems; energy efficiency and infrastructures (consistent with SDGs 7, 11 and 13): production of renewable electricity through photovoltaics and geothermal energy, development of district heating networks, installation, maintenance and repair of energy efficiency equipment and renewable energy technologies, including electricity transmission and distribution grids. To ensure that the funds are correctly and transparently allocated, Hera has set up a monitoring and reporting process, which also ensures that the amount actually dedicated to each intervention, along with evidence of the environmental performance achieved, will be published in the Group’s 2024 Sustainability Report. The partners in the transaction Hera’s green bond issue was coordinated by BNP Paribas, Credit Agricole CIB, Mediobanca, UniCredit, BBVA, Intesa Sanpaolo, Banco Santander, Banca AKROS, Deutsche Bank, BPER Banca, Montepaschi di Siena, Barclays and Caixabank as Joint Bookrunners. The law firm Legance assisted Hera, while the firm Linklaters provided support to the Joint Bookrunners. Hera Group new 500 million euro green bond.pdf 18:15:00 sede_hera_110-2.jpg sede_hera_110-2.jpg
Online dal 08/01/2025 alle ore 18:15
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16/12/2024
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Update and increase of the EMTN Programme of Hera S.p.A.

2024-12-16 centrata Hera S.p.A. (the “Company”) announces that on the date hereof the update of its Euro Medium Term Notes programme has been completed, with the increase from euro 4.5 billion to euro 5 billion of the maximum plafond in principal amount of notes that may be simultaneously outstanding thereunder (the “EMTN Programme”). The base Prospectus of the EMTN Programme has been approved by the Central Bank of Ireland pursuant to the Prospectus Regulation and is available on the Company’s website and on the website of Euronext Dublin. The update and the increase of the maximum plafond of the EMTN Programme will allow the Company to take advantage of any new market opportunities in line with its financial strategy.   Press release Update and increase of the EMTN Programme of Hera S.p.A..pdf 20:52:12 sede_hera_110-2.jpg Download Press Release sede_hera_110-2.jpg
Online dal 16/12/2024 alle ore 20:52
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16/12/2024
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Hera Group acquires Estenergy shares from Ascopiave and increases its holding to 100% of share capital

Following Ascopiave’s decision to exercise its option to sell its 25% stake in EstEnergy, Hera Comm becomes the sole shareholder of the largest energy operator in the Northeastern Italy
Online dal 16/12/2024 alle ore 17:41
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14/12/2024
Hera Spa
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Hera Group awarded with the Oscar for Financial Reporting

In the “Listed and unlisted utilities and multi-utilities” category, the Hera Group was recognized for its high level of maturity and its awareness of the intrinsic value of the ESG reporting process
Online dal 14/12/2024 alle ore 09:40
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14/12/2024
Hera Spa
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Hera is the ESG world leader in its sector in the Dow Jones Sustainability Index ranking

The Group included in both the Dow Jones Sustainability Europe Index and the Dow Jones Sustainability World Index is the world’s most sustainable multi and water utility. This comes as further recognition of the company’s approach to creating shared value for all stakeholders
Online dal 14/12/2024 alle ore 09:16

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Telephone: +39 051 287111

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Telephone: +39 051 287111

HERA SPA

Viale Carlo Berti Pichat nr. 2/4 - 40127

 

Bologna

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

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