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The Hera Group presents NexMeter, the meter with the future in the mind: innovation and safety

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Press releases
19/06/2024
Hera Spa
Price sensitive

Hera Group ranks first in the 2024 ESG Identity Corporate Index (formerly IGI)

<p><em>For the fourth consecutive year, the Group is on the podium of the overall index ranking, which rewards Italian companies that stand out for integrating ESG factors into their governance. This comes as further recognition of the Group’s commitment to creating long-term value for its shareholders and all its stakeholders</em></p>
Online since 19-06-2024 at 11:08
Press releases
11/06/2024
Hera Spa
M&A
Price sensitive

Inrete Distribuzione Energia acquires Soelia’s gas network

<p><em>The Hera Group, through its subsidiary operating in the natural gas distribution sector, strengthens its presence in the area served</em></p>
Online since 11-06-2024 at 11:57
Press releases
15/05/2024
Shareholders’ meeting
Price sensitive
Hera Spa

Publication of documents pertaining to the Shareholders Meeting

Online since 15-05-2024 at 10:35
Press releases
15/05/2024
Price sensitive
M&A
Hera Spa

Hera Group acquires Soelia’s gas network

Through its subsidiary Inrete Distribuzione Energia, the Group was awarded the tender for the gas distribution plants and network serving the municipality of Argenta in Ferrara area

Online since 15-05-2024 at 10:38
Press releases
14/05/2024
Price sensitive
Financial Results
Hera Spa

Hera Group BoD approves results for 1Q 2024

<p>The consolidated quarterly report at 31 March shows improvement in the main operating and financial indicators. The Group’s financial solidity and commitment to sustainability and the ecological transition were confirmed, along with the creation of value for all stakeholders and significant investments in the areas served to improve our assets resilience and to guarantee service quality and continuity</p>
Online since 14-05-2024 at 12:41
Press releases
30/04/2024
Shareholders’ meeting
Hera Spa
Price sensitive

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.

Online since 29-04-2024 at 12:53
Press releases
23/04/2024
Hera Spa
Other press releases

Hera Group at the top of ARERA’s water service quality ranking

The multiutility confirms itself among Italy’s most outstanding operators, securing the first and third positions, with reference to all macro-indicators, as proof of the very high standards adopted by the Group in this field. A commitment that the Hera fulfils with significant investments to ensure the highest quality and continuity of service to around 3.6 million citizens and an increasingly efficient and circular use of resources. Important results have been achieved, particularly in Emilia-Romagna.

08/04/2024
Other press releases
Hera Spa

Publication of the Draft Separate and Consolidated Financial Statements as of 31.12.2023, the Sustainability Report - Consolidated Non-Financial Statement, the Corporate Governance Report, and the Report on Remuneration and Compensation Paid

29/03/2024
Hera Spa
Other press releases

Rigid plastics recycling: one of Europe’s most innovative plants to be built in Modena

<p><em>Thanks to investments totalling approximately 50 million euro, the Hera Group will build a state-of-the-art facility within its own plant complex. Starting from plastic waste that has so far been difficult to recycle, it will produce high quality polymers with characteristics similar to those shown by virgin materials, thus making sectors such as consumer electronics and the automotive industry increasingly sustainable</em></p>
Press releases
27/03/2024
Shareholders’ meeting
Hera Spa

Publication of documents pertaining to the Shareholders Meeting to be held on 30 April 2024

Press releases
26/03/2024
Other press releases
Hera Spa
Price sensitive
Financial Results

Hera Group approves results as at 31/12/2023

<p><em>The year closed with main financial indicators rising and the targets included in the strategic Plan to 2026 exceeded three years ahead of schedule. The Group’s financial solidity and flexibility allowed it to continue along its path of industrial growth, increasing its investments and successfully grasping market opportunities, both internal and external, while continuing to generate value benefitting all stakeholders. The proposed dividend was raised, reaching 14 eurocents per share</em></p>
Online since 26-03-2024 at 12:47
Press releases
11/03/2024
Hera Spa
Other press releases

Green energy and a new urban forest: the Hera Group’s Energy Park arrives in Bologna

<p><em>Sustainability, decarbonisation, liveability and biodiversity protection are the keywords of this project, which will be developed in the northern part of the city and will contain a new urban park with facilities, complemented by areas dedicated to protecting animal and plant species, and an agrivoltaic field that will allow an annual saving of 6,000 tons of CO2.</em></p>
Press releases
04/03/2024
Shareholders’ meeting
Hera Spa
Other press releases

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.

Press releases
13/02/2024
Hera Spa
Other press releases

Hera Group among Europe’s leaders in sustainability and the fight against climate change

<p><em>The Group achieved the leadership band in the CDP questionnaire and was included among “TOP 1%” Multi and Water Utilities of the S&amp;P Global’s Sustainability Yearbook 2024. These recognitions prove Hera’s commitment to sustainable development and creating shared value for local areas.</em></p>
Press releases
06/02/2024
Hera Spa
Other press releases

Hera Group: over 1 million new electricity customers as of 1 July

<p><em>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.</em></p>
Press releases
25/01/2024
M&A
Hera Spa
Other press releases

Hera Group expands in the industrial waste sector with TRS Ecology

<p><i><span lang="EN-GB" style="font-size:11.0pt"><span style="line-height:106%"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"></span></span></span></i>With the acquisition of 70% of the Piacenza-based company, the Group reinforces its leadership in the waste management sector. This transaction, at full capacity, is expected to contribute to growth in the Hera Group’s Ebitda with approximately 6 million euro.<i><span lang="EN-GB" style="font-size:11.0pt"><span style="line-height:106%"><span style="font-family:&quot;Arial&quot;,&quot;sans-serif&quot;"> </span></span></span></i></p>
Press releases
24/01/2024
Price sensitive
Financial Results
Hera Spa
Other press releases

Hera Group presents Business Plan to 2027

<p><em>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. The preliminary results for 2023 outperform the previous Plan’s goals that have been achieved three years ahead of schedule, thanks to the numerous development actions implemented and the Group’s ability to grasp market opportunities.</em></p>
Online since 24-01-2024 at 12:02
Press releases
22/01/2024
Shareholders’ meeting
Hera Spa
Other press releases
Price sensitive

Calendar of corporate events

Online since 22-01-2024 at 13:24
18/01/2024
Hera Spa
Other press releases

Hera Top Employer for the 15th Consecutive Year

<p><em>The company reaffirms, once again in 2024, its position among the best performers in human resources management, thanks to substantial investments in welfare, training, and skill development.</em></p>
Press releases
02/01/2024
Hera Spa
Other press releases

Hera Group has obtained the “Gender equality certification”

<p><em>A further confirmation of the importance of Hera’s achievements in terms of gender equality and inclusion</em></p>

Asset Publisher

13/11/2019
The Hera Group presents NexMeter, the meter with the future in the mind: innovation and safety

The 2019 European Utility Week includes a preview of the new smart gas meter 4.0, provided with advanced technology and functions, and features that are unique on the international scene. Thanks to investments coming to 45 million euro, the first 300,000 units will be installed in some areas served by Hera.

NexMeter

NexMeter, the new gas meter 4.0 conceived by the Hera Group, looks towards the future, today: provided with avant-garde technology and functions, above all concerning safety, and "environment friendly", its features cannot be found elsewhere on the international scene.
This "smart" device was born out of the experience gained by Hera, one of Italy's largest multi-utilities. The fruit of the know-how accumulated over time in gas distribution service management, it also owes much to the continuous investments made in innovation and research and development. The Hera Group has already allocated roughly 45 million euro in investments to install the first 300,000 meters over the upcoming three years.

The companies chosen as partners are among the most qualified, nationally and internationally: the Japanese multinational Panasonic, a global leader in electronic product and component manufacturing, and Pietro Fiorentini, one of Italy's foremost enterprises involved in providing products and services for the entire natural gas sector.

Precisely because of its advanced functions and the international team involved in its development, a preview of NexMeter was given yesterday afternoon in Paris, in the prestigious setting of the 2019 European Utility Week, the sector's most important showcase.

A "mini-computer", leading the way in innovation and safety

NexMeter is much more than a gas meter: it's a "mini-computer" whose features outperform the other devices now seen on the market. Provided with advanced technology - now, for the first time, contained within the device itself and based on algorithms, sensors and ultrasounds - and characteristics giving it an unrivalled precision, it offers advanced safety functions, supporting a fundamental aspect of gas services.
The specific monitoring and warning tools with which it is provided allow it to prevent accidents in a range of situations, offering greater protection to buildings and citizens, along the lines of electric circuit breakers.
For example, the system's regular functioning is constantly checked by verifying supply and network pressure, immediately reporting any excess or drop. The meter is able to signal any kind of gas leak: not only large, short-term losses due to breakage or voluntary damage, but also the smaller, continuous leaks that customers might not notice right away. It can thus interrupt supply in case of irregularities, making the system safe. Furthermore, it is able to detect tremors caused by earthquakes in real time, and in this case as well it interrupts gas supply and thus acts towards providing better safety.

Real time communication between metres, control systems and users

In addition to periodically sending ordinary information as to actual consumption, like other smart gas meters, in case of emergency NexMeter is activated and contacts the Group's central remote control facility in Forlì. This avant-garde technological centre is one of Europe's largest, and monitors Hera's networks and plants across the entire area served in real time. In turn, the remote control facility, if it has a certain way to contact the user, attempts to send them an warning signal. In any event, the device's status can be checked by customers themselves on the meter's display, thanks to a simple and immediately comprehensible interface.

NexMeter is environment friendly

Not only is NexMeter "smart" and precise, it's also a green assistant who will help cut spending for consumption. Thanks to its ability to detect even slight gas leaks and signal them to users, NexMeter contributes to reducing the cost of bills.
Furthermore, it benefits the environment by promoting a smart use of energy and favouring a rational use of resources. By eliminating leaks, indeed, it also reduces methane dispersion, which is highly pollutant, while the entire process of optimising gas network management has a positive effect on the performance and emissions of many devices, first and foremost hot water heaters. NexMeter - in addition to being entirely compatible with all kinds of networks and plants - is already suitable for future "clean gas" systems, such as biomethane.
One can only add that it is the first meter built out of materials that contain recycled plastic, reflecting Hera's long-standing attention towards the environment and a circular economy. Moving in this same direction, Hera was the first company in Italy to introduce recycled plastic materials into the tubes of its own networks.

An opportunity for local areas: the first installations and the next steps

Following up on the opportunities offered by the large-scale gas meter substitution foreseen by Italian regulations (resolution ARG/gas 155/08), Hera's new 4.0 meter meets possible developments in legislation in advance, introducing features that go beyond current requirements and putting innovative technology at the service of the needs shared by household and non-household users.
As early as the next few months, installation of the device will be launched in some areas served by the Group: overall, during the next three years, 300,000 devices will be installed in localities served by Hera, mainly in Friuli-Venezia Giulia and Emilia-Romagna, in the provinces of Modena and Ferrara, areas classified as being at risk of earthquakes or in which similar events have recently occurred.

A valuable project

NexMeter's features respect the interventions outlined in the 2019-2021 strategic framework drafted by Italy's Energy, Network and Environment Authority (ARERA). These objectives are challenging in terms of innovation, safety and attention towards the environment, with respect to which the Italian authority orients sector companies. The presentation of NexMeter confirms that the Hera Group is fully able and ready to act on these indications, making the most of its employees' professional skills and potential for innovation.

"With NexMeter", states Stefano Venier, CEO of the Hera Group, "we are bringing a new wave of innovation into a business, gas distribution, that is still quite traditional. To develop it in the best way possible, we have brought together our considerable experience in the gas distribution sector together with the skills of the most qualified national and international partners. In a broader sense, innovation is one of our strategic priorities, sustained by a significant economic investment, coming to over 380 million euro in the five years covered by our latest Business plan. It is with initiatives such as this, indeed, that the Hera Group carries out its own mission, already today, with technology coming from the future, meeting the needs of the citizens who live in the areas we serve. All of this is accompanied by constant attention towards the environment: our meter in fact promotes a smart use of energy and an efficient use of resources, which are two of the drivers according to which the Hera Group has established its commitment towards sustainability".

"This project could not be accomplished without Gruppo Hera's solid desire and intention to develop and deploy new gas smart meter which equipped with safety functions. It is honourable for Panasonic to contribute as a key devices supplier of which technology had been proven more than 35 years with 120 million sets delivered in Japan and will enormously enhance the safety level in the gas distribution network in Italy" said Anton Terasaki, Managing Director of Smart Energy System Business Division Appliances Company, Panasonic Corporation.

"We are very enthusiastic about our work on this innovative project for smart meters with advanced features in safety and reliability. It will provide Hera's customers and the entire supply chain with a significant amount of data, fundamental for a safe, efficient and enlightened use of gas", states Cristiano Nardi, Executive Chairman of the Pietro Fiorentini Group. "Our collaboration with Panasonic fully respects our policy of open innovation that leads us to collaborate with many international partners, universities and research centres".

The Hera Group is among Italy's largest multi-utilities, working mainly in the environment (waste collection and treatment), energy (electricity and gas distribution and sales, energy services) and water (aqueduct, sewerage and purification) sectors. Other services offered include public lighting and telecommunications. The Group employs almost 9,000 employees who meet the needs of 4.4 million citizens in over 350 municipalities mainly located in Emilia-Romagna, Veneto, Friuli-Venezia Giulia, Marche, Tuscany and Abruzzo. A listed company since 2003, as of 18 March 2019 Hera has been included in the FTSE MIB.

Panasonicis worldwide leader in the development and manufacture of electronic products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated net sales of 8.0 Trillion Yen for the year ended in March 31 2019. The Company's shares are listed on the Tokyo, Osaka, Nagoya, and New York (NYSE: PC) stock exchanges.

Pietro Fiorentini is an international group comprising twenty-six branches and subsidiaries. Based in Arcugnano (Vicenza), it provides a wide range of products, systems and services to the Oil & Gas sector, with eleven manufacturing facilities worldwide. It was recently included by the Centro Studi ItalyPost in a list of the one hundred Italian companies having an annual turnover coming to between 120 and 500 million euro who have performed the best operationally and financially from 2011 to the present. Pietro Fiorentini's mission is strongly oriented towards customer centricity and environmental protection, applying the most modern technologies to meet the needs of the market and to promote the development of clean and safe energy, thanks to new solutions including renewable gas and hydrogen.

Online from 13 November 2019 at 10:50:24

Search Results

26/06/2019
Price sensitive
M&A

Hera: new 500 m€ green bond

2019-06-26 Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management. Subscriptions have reached seven times the amount offered. Hera: new 500 m€ green bond Strong interest shown by international investors for the multi-utility's second "green" bond, which will finance environmental sustainability projects in 3 areas: energy efficiency, circular economy and sustainable water resource management. Subscriptions have reached seven times the amount offered. The Hera Group aims to continue in its role as a reference point for sustainable finance in Italy and, five years after issuing the country's first "green" bond, it is now launching its second. The bond is being announced at the end of a road show in Europe's main financial centres, aimed at illustrating the structure of the transaction to investors and analysts, in addition to the way in which the resources will be allocated, i.e. by investing in environmental sustainability projects in the waste, water and energy sectors. Considering that it also launched Italy's first ESG-linked revolving line of credit last year, Hera is carrying on with its activity in identifying and implementing innovative instruments. The latter are indeed able to valorise the company's commitment and the results it has reached hereto in this area, along with its future investment policies, thus meeting the market's growing attention towards this sort of endeavour. The characteristics of the new green bond and the projects financed The second green bond issued by the Hera Group (Moody's rating Baa2 with stable outlook and Standard & Poor's rating BBB with positive outlook) amounts to 500 million euro overall, repayable over 8 years with a 0.875% coupon and a 1.084% return. The date of payment for the newly issued bond has been set at 5 July 2019. Furthermore, the new green bond is expected to have the same rating as the Hera Group. A strong demand, coming to seven times the amount offered, and the quality of the orders received have allowed the price to be fixed at an excellent level. The transaction has seen significant participation from international investors (France, Germany, United Kingdom and Holland), most of whom follow green and sustainable criteria. The bond is expected to be listed on the Irish Stock Exchange and the Luxembourg Stock Exchange's regulated markets, and on Borsa Italiana's ExtraMOT PRO. The funds will be used to finance or refinance numerous projects, already implemented or included in the Business plan to 2022, that pursue one or more of the goals in the UN's 2030 Agenda. These projects have been subdivided into 3 areas: energy efficiency (in line with SDGs 7 and 13): from installing smart metres to developing district heating networks and projects in the area of public lighting; circular economy and sustainable waste management (responding to SDG 12): innovative projects in the waste collection systems, further use of unit pricing, creating plants and structures for recycling, recovering and reusing materials, plants for biological/chemical waste treatment and plants for transforming waste into energy, similar to the Sant'Agata Bolognese (BO) biomethane production plant; water infrastructures (meeting SDGs 6 and 14): waste water management projects, sewerage and water infrastructures furthering resilience and adaptation to climate change. In order to guarantee that the funds are correctly and transparently allocated, Hera has introduced a monitoring and reporting process. The amount actually dedicated to each intervention will be published in the Group's Sustainability Report, along with data concerning the environmental performances reached. "Green Financing Framework": Hera transparent in sustainability as well The Hera Group, furthermore, is among the first companies in Europe to have provided itself with a "Green Financing Framework" (GFF). The GFF is a particularly innovative programming document, in line with "Green Bond Principles", that covers not only aspects linked to issuing the green bond, but also sustainable loans and other ESG instruments on the market. The GFF is accompanied by a "Second Party Opinion", drafted by ISS-oekom, which ranked Hera "Prime" in terms of ESG performance (sixth in a panel of 43 worldwide companies), in particular giving an excellent opinion of Hera's contribution to the water sector. Hera's partners in the transaction The Hera green bond issue was coordinated by BNP Paribas, Credit Agricole CIB, Mediobanca and UniCredit, acting as Joint Bookrunners, and BBVA, acting as Bookrunner. The law firm Legance provided Hera with assistance, while the law firm Linklaters assisted the Bookrunners. ISS-oekom is the world's leading rating firm in the field of responsible investment. Based in Rockville (US), it has branches in 30 countries, with over 2,000 institutional clients and 1,800 consultants. Statement by CEO Stefano Venier "Green, or ESG financial instruments are a fundamental lever used to sustain the Hera Group's commitment towards acting on a business model that is increasingly regenerative and resilient. Able to meet the goals contained in the UN's 2030 Agenda, this model will also respond to the many challenges currently facing us, first and foremost climate change, that require innovative solutions and long-term investments. The green bond we are issuing today fully respects these standards and aims". 20190626_CS_Nuovo_green_bond_Hera_final_eng.1561565392.pdf 2019-06-26 17:43:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance
19/06/2019
Price sensitive
M&A

The BoD of Hera S.p.A. authorises the issue of new notes and the refinancing of certain notes

2019-06-19 The BoD of Hera S.p.A. authorises the issue of new notes and the refinancing of certain notes 1 For information purposes only, the purchase price for the 2021 Notes will, when determined in the manner described herein on the basis of a Settlement Date of 1 July 2019, be 107.704 per cent. Should the Settlement Date in respect of the 2021 Notes accepted for purchase pursuant to the Offer differ from 1 July 2019, the relevant purchase price will be recalculated, all as further described herein. If the aggregate principal amount of the Existing Notes validly tendered for purchase pursuant to the Tender Offer is greater than the amount of the Existing Notes that the Offeror intends to purchase, the Offeror will accept the relevant tenders on a pro rata basis. The Tender Offer, which starts today, will expire on 26 June 2019, subject to the right of the Offeror to extend, re-open, amend and/or terminate it. The settlement date for the Tender Offer is expected to fall on 1 July 2019. Further information on the terms and conditions of the Tender Offer are set out in the Tender Offer Memorandum. Simultaneously with, by separately from, the Tender Offer, the Company may also consider, at its sole discretion, to purchase, through the Offeror, in whole or in part, one or more series of the following series of notes issued by the Company and privately placed to a limited number of investors: (i) €32,000,000 3.5 per cent. Fixed Rate Notes due 22 May 2025 (ISIN Code: XS0935947977); (ii) €30,000,000 5.25 per cent. Fixed Rate Notes due 14 May 2027 (Namesschuldverschreibung); and (iii) €30,000,000 5.25 per cent. Fixed Rate Notes due 14 May 2027 (ISIN Code: XS0782473556). This notice does not constitute an invitation to participate in the Tender Offer in any jurisdiction in which, or to any person to whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws and regulations. The distribution of this notice or the Tender Offer Memorandum in certain jurisdictions may be restricted by law and regulations. Persons into whose possession this notice comes are required to inform themselves about, and to observe, any such restrictions. Specific restrictions are included in the Tender Offer Memorandum. 20190619_comunicato_Lancio_nuova_emissione_ENG.1560927472.pdf 2019-06-19 08:09:00 Hera acquires 2.5% of Ascopiave's share capital from Amber
17/06/2019
Price sensitive
M&A

The Hera Group and Ascopiave: a large energy partnership in North-East Italy

2019-06-17 The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers. Ascopiave grows in gas distribution by 188,000 delivery points, becoming North-East Italy's leading operator with 775,000 delivery points managed and an added Ebitda amounting to 15.9 million euro. The Hera Group and Ascopiave: a large energy partnership in North-East Italy The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers. Ascopiave grows in gas distribution by 188,000 delivery points, becoming North-East Italy's leading operator with 775,000 delivery points managed and an added Ebitda amounting to 15.9 million euro. Today, the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a. approved the signing of a binding Term Sheet intended to develop a major entity in areas of North-East Italy, which will be able to rely on over one million energy customers, while at the same time redefining their respective activities in gas distribution. The Term Sheet, which will be finalised by a framework agreement within 31 July 2019, defines the geographical areas involved, the economic terms of the agreement and related elements of governance. The agreement reached represents an important strategic transition in the evolution of the two Groups' activity portfolios and fully respects the strategic lines of development approved by the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a., as communicated to investors. More specifically, as regards the gas and electricity marketing area, the agreement calls for a single operator to be created, bringing together the respective sales operations in the Veneto, Friuli Venezia Giulia and Lombardy regions, acting through EstEnergy S.p.a., a company currently jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., the Hera Group's sales company. EstEnergy S.p.a.'s activities in the geographical areas indicated will be considerably increased, coming to include the Ascopiave Group's sales activities carried out by the subsidiaries Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. (49%) and Etra Energia S.r.l. (51%), in addition to the liquidating Sinergie Italiane S.r.l. (30.94%) and the company Energia Base Trieste S.r.l. (92,000 contracts managed) and Hera Comm's Veneto and Friuli customers (96,000 gas contracts and 68,000 electricity contracts). A major operator rooted in the North-East will thus emerge with a portfolio totalling over 795,000 gas contracts and 265,000 electricity contracts, based on 31 December 2018 data, which considering the joint venture pro rata component amounts to over 1 million contracts. This new entity, which will take shape through EstEnergy, when fully operational, will have a consolidated Ebitda coming to roughly 69 m€, based on 2018 data, not including the contribution coming from owned companies with minority shareholdings. 52% of EstEnergy's share capital will be held by the Hera Group, and 48% by Ascopiave. The parties involved have disclosed that the overall equity value of the new EstEnergy amounts to 864.5 m€ (with a corresponding enterprise value of 797 m€), based on 31 December 2018 data, and may be subject to standard adjustments following the closing date; of this amount, 601 m€ (543 m€ enterprise value)pertains to sales activities originating from Ascopiave and 263 m€ to activities originating from HeraComm. In order to regulate the new EstEnergy's governance, a Shareholders Agreement will be signed that calls for a Board of Directors made up of 5 members - 3 appointed by Hera, who will also appoint the CEO, and 2 by Ascopiave, who will also appoint the Chairman and the Chairman of the Board of Auditors - and that furthermore includes standard clauses protecting a minority shareholder, a 7-year right of transfer that may be exercised annually, granted to Ascopiave and reaching its entire shareholding in Est Energy S.p.a. and a right of acquisition, granted to Hera Comm in the event that Ascopiave S.p.a. reaches a residual holding in Est Energy S.p.a. coming to less than or equal to 5% of the company's capital. In particular, the transfer option concerning the minority shareholding of EstEnergy may be exercised, wholly or in part, up to the seventh year from the closing date, at a price set at the higher amount between (i) the fair market value of the shareholding, calculated at the exercise date, and (ii) the value of the shareholding, revised by applying a 4% annual interest rate, net of the amount of dividends received and in any case not lower than the value of the shareholding itself. Furthermore, Amgas Blu, a sales company operating in the province of Foggia with roughly 50,000 customers, entirely owned by Ascopiave, will also be involved in the overall reorganisation of the gas and electricity customer marketing area. This company will be directly acquired by Hera Comm at a price coming to roughly 44 m€, including its financial position, once again with reference to 31 December 2018 data. At the closing date, Ascopiave will acquire a shareholding coming to roughly 3.6% of Hera Comm for the price of 65 m€, gaining the right to appoint one member of the company's Board of Directors. For this shareholding as well, a mechanism is expected to grant Ascopiave the right to transfer its shareholding in Hera Comm, extending over the same period of 7 years. As regards the reorganisation of gas distribution activities, instead, Ascopiave is expected to acquire, from the Hera Group, an area of concessions including 188,000 delivery points in the Veneto and Friuli Venezia Giulia regions, with an investment value amounting to 171 m€ and a proforma Ebitda coming to 15.9 m€, both defined by 31 December 2018 data. Through this transaction, the Ascopiave Group will serve roughly 775,000 users and manage over 12,000 km of network, thus becoming the largest operator in the Triveneto Region and consolidating its position in the national ranking. With this transaction, Ascopiave will proceed with its strategic repositioning plan, establishing a marketing agreement with a major player and reinforcing its presence in the core business of gas distribution. As regards the Hera Group, through these agreements with Ascopiave it will reach its target of 3 million energy customers (3.2, according to 31 December 2018 data) set in its business plan to 2022. This represents a further step along the path of growth in this area, that has seen the Group double its energy customer base over the last 10 years, by way of internal growth and M&As. The transaction, in addition to setting a deadline for the final agreement at 31 July 2019, will be subject to the standard conditions foreseen for this type of transaction and all communications and approvals given by authorities and responsible institutions, as well as, solely concerning the shareholdings in question, the consent of other shareholders in the case of Ascopiave S.p.a.'s shareholdings in the joint ventures ASM Set S.r.l., Etra Energia S.r.l. and the liquidating Sinergie Italiane S.r.l.. The parties involved expect the transaction to be concluded within 31 December 2019. Ascopiave is assisted in the transaction by the teams of Rothschild&Co., for the financial part, and by the Bonelli Erede studio, for the legal part, while Hera has called on Lazard and the Grimaldi studio. The Ascopiave Group operates in the natural gas sector, mainly in the segments of distribution and sale to end users. Thanks to its broad customer base and the quantity of gas sold, Ascopiave is currently one of the main operators in the industry at a national level. The Group owns concessions and direct assignments for the management of distribution activities in over 228 Towns, supplying the service to a market segment of 1.5 million inhabitants, through a distribution network which spreads over 10,000 kilometres. The sale of natural gas is performed through different companies, some under joint control. Overall, in 2018, the companies of the Group sold over 1 billion cubic metres of gas to end users. Ascopiave has been listed under the Star segment of Borsa Italiana since 12th December 2006. Hera Group is one of Italy's largest multi-utility providers working in environment (waste collection and treatment), energy (electricity and gas distribution and sale) and water (aqueduct, sewerage and purification) sectors. The Group employs over 9,000 people and works every day to meet the many and varied needs of over 4.4 million citizens. It serves over 350 local municipalities mainly in the Emilia-Romagna, Marche, Tuscany, Abruzzo, Veneto and Friuli-Venezia Giulia regions. Listed since 2003, on 18 March 2019 Hera shares have been included in the FTSE MIB of Borsa Italiana. 20190617_press_release_GruppoHera_Ascopiave_ENG_final.1560793161.pdf 2019-06-17 19:19:00 2020 Integrated Governance Index: Hera once again ranked at the top of sustainable finance
Press releases
17/06/2019
Hera Spa
Research and Development

The Hera Group and Ascopiave: a large energy partnership in North-East Italy

2019-06-17 GH_ASCOPIAVE_870.1565011002.jpg The business partnership, through the joint venture EstEnergy, involves over 1 million customers, with the new entity's overall value coming to 864.5 million euro and its Ebitda amounting to 69 million euro. With this transaction, the Hera Group reaches over 3 million energy customers. Ascopiave grows in gas distribution by 188,000 delivery points, becoming North-East Italy's leading operator with 775,000 delivery points managed and an added Ebitda amounting to 15.9 million euro Today, the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a. approved the signing of a binding Term Sheet intended to develop a major entity in areas of North-East Italy, which will be able to rely on over one million energy customers, while at the same time redefining their respective activities in gas distribution. The Term Sheet, which will be finalised by a framework agreement within 31 July 2019, defines the geographical areas involved, the economic terms of the agreement and related elements of governance. The agreement reached represents an important strategic transition in the evolution of the two Groups' activity portfolios and fully respects the strategic lines of development approved by the Boards of Directors of Hera S.p.a. and Ascopiave S.p.a., as communicated to investors. More specifically, as regards the gas and electricity marketing area, the agreement calls for a single operator to be created, bringing together the respective sales operations in the Veneto, Friuli Venezia Giulia and Lombardy regions, acting through EstEnergy S.p.a., a company currently jointly controlled by Ascopiave S.p.a. and Hera Comm S.r.l., the Hera Group's sales company. EstEnergy S.p.a.'s activities in the geographical areas indicated will be considerably increased, coming to include the Ascopiave Group's sales activities carried out by the subsidiaries Ascotrade S.p.a., Ascopiave Energie S.p.a. and Blue Meta S.p.a. as well as the joint ventures Asm Set S.r.l. (49%) and Etra Energia S.r.l. (51%), in addition to the liquidating Sinergie Italiane S.r.l. (30.94%) and the company Energia Base Trieste S.r.l. (92,000 contracts managed) and Hera Comm's Veneto and Friuli customers (96,000 gas contracts and 68,000 electricity contracts). A major operator rooted in the North-East will thus emerge with a portfolio totalling over 795,000 gas contracts and 265,000 electricity contracts, based on 31 December 2018 data, which considering the joint venture pro rata component amounts to over 1 million contracts. This new entity, which will take shape through EstEnergy, when fully operational, will have a consolidated Ebitda coming to roughly 69 m€, based on 2018 data, not including the contribution coming from owned companies with minority shareholdings. 52% of EstEnergy's share capital will be held by the Hera Group, and 48% by Ascopiave. The parties involved have disclosed that the overall equity value of the new EstEnergy amounts to 864.5 m€ (with a corresponding enterprise value of 797 m€), based on 31 December 2018 data, and may be subject to standard adjustments following the closing date; of this amount, 601 m€ (543 m€ enterprise value) pertains to sales activities originating from Ascopiave and 263 m€ to activities originating from HeraComm. In order to regulate the new EstEnergy's governance, a Shareholders Agreement will be signed that calls for a Board of Directors made up of 5 members - 3 appointed by Hera, who will also appoint the CEO, and 2 by Ascopiave, who will also appoint the Chairman and the Chairman of the Board of Auditors - and that furthermore includes standard clauses protecting a minority shareholder, a 7-year right of transfer that may be exercised annually, granted to Ascopiave and reaching its entire shareholding in Est Energy S.p.a. and a right of acquisition, granted to Hera Comm in the event that Ascopiave S.p.a. reaches a residual holding in Est Energy S.p.a. coming to less than or equal to 5% of the company's capital. In particular, the transfer option concerning the minority shareholding of EstEnergy may be exercised, wholly or in part, up to the seventh year from the closing date, at a price set at the higher amount between (i) the fair market value of the shareholding, calculated at the exercise date, and (ii) the value of the shareholding, revised by applying a 4% annual interest rate, net of the amount of dividends received and in any case not lower than the value of the shareholding itself. Furthermore, Amgas Blu, a sales company operating in the province of Foggia with roughly 50,000 customers, entirely owned by Ascopiave, will also be involved in the overall reorganisation of the gas and electricity customer marketing area. This company will be directly acquired by Hera Comm at a price coming to roughly 44 m€, including its financial position, once again with reference to 31 December 2018 data. At the closing date, Ascopiave will acquire a shareholding coming to roughly 3.6% of Hera Comm for the price of 65 m€, gaining the right to appoint one member of the company's Board of Directors. For this shareholding as well, a mechanism is expected to grant Ascopiave the right to transfer its shareholding in Hera Comm, extending over the same period of 7 years. As regards the reorganisation of gas distribution activities, instead, Ascopiave is expected to acquire, from the Hera Group, an area of concessions including 188,000 delivery points in the Veneto and Friuli Venezia Giulia regions, with an investment value amounting to 171 m€ and a proforma Ebitda coming to 15.9 m€, both defined by 31 December 2018 data. Through this transaction, the Ascopiave Group will serve roughly 775,000 users and manage over 12,000 km of network, thus becoming the largest operator in the Triveneto Region and consolidating its position in the national ranking. With this transaction, Ascopiave will proceed with its strategic repositioning plan, establishing a marketing agreement with a major player and reinforcing its presence in the core business of gas distribution. As regards the Hera Group, through these agreements with Ascopiave it will reach its target of 3 million energy customers (3.2, according to 31 December 2018 data) set in its business plan to 2022. This represents a further step along the path of growth in this area, that has seen the Group double its energy customer base over the last 10 years, by way of internal growth and M&As. The transaction, in addition to setting a deadline for the final agreement at 31 July 2019, will be subject to the standard conditions foreseen for this type of transaction and all communications and approvals given by authorities and responsible institutions, as well as, solely concerning the shareholdings in question, the consent of other shareholders in the case of Ascopiave S.p.a.'s shareholdings in the joint ventures ASM Set S.r.l., Etra Energia S.r.l. and the liquidating Sinergie Italiane S.r.l.. The parties involved expect the transaction to be concluded within 31 December 2019. Ascopiave is assisted in the transaction by the teams of Rothschild&Co., for the financial part, and by the Bonelli Erede studio, for the legal part, while Hera has called on Lazard and the Grimaldi studio. 20190617_press_release_GruppoHera_Ascopiave.1560793213.pdf 2019-06-17 19:19:02 GH_ASCOPIAVE_110.1560792938.jpg
Online dal 17/06/2019 alle ore 19:19

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