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26/03/2024
Hera Group approves results as at 31/12/2023

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

Financial highlights

  • Revenues at 14,897.3 million euro
  • Ebitda* at 1,494.7 million euro (+15.4%)
  • Net profit* for shareholders at 375.2 million euro (+16.5%)
  • Gross operating investments at 815.8 million euro (+15.0%)
  • Net financial debt improves to 3,827.7 million euro (-10%), with Net debt / Ebitda* at 2.56x
  • Proposed dividend rises to 14 eurocents per share (+12%)


Operating highlights

  • Strong performance from internal growth with contributions coming from acquisitions
  • Significant contributions from the energy area, growth in the waste management sector, and network resilience pending the adjustment of the tariff return effective from 2024
  • Consolidation of ranking as Italy’s first operator in the waste management sector, second in water and third in energy
  • Shared-value Ebitda rises sharply to 776.0 million euro (+16%) and shared-value investments amount to 558.4 million euro (69% of total investments)

The Board of Directors of the Hera Group, chaired by Executive Chairman Cristian Fabbri, unanimously approved the consolidated financial results as at 31 December 2023 and the Report on remuneration policy and compensation paid, as well as the Sustainability report.

Record year for the Group, that continues to create value for stakeholders and increase its scope of operations
Thanks to effective choices made by management and the numerous development actions implemented, which also made it possible to seize market opportunities, the Hera Group closed the 2023 financial year with main operating results showing strong growth compared to the previous year. In particular, the Group leveraged its financial flexibility to successfully participate in recent last resort market tenders, and to acquire strategic assets in the waste management area.
In a year characterised by an international geopolitical situation that remained unstable, with high energy market volatility in the first half of the year and prices that have not yet returned to the levels seen prior to the crisis, as well as a series of extreme weather and climate phenomena that affected the areas served, the Hera Group has continued to ensure service continuity and quality and the creation of value for all stakeholders. This concrete and transparent value was quantified through shared-value Ebitda and investments, with the data in question subjected for the fifth consecutive year to an external auditing company in order to validate these distinctive aspects of the Group’s reporting to all stakeholders. Hera pursued corporate growth and, at the same time, sustainable development, as shown by the increased investments in innovation and resilience of the assets managed, the circular economy and the energy transition, with concrete projects consistent with major national and international policies.
In addition to internal growth, in 2023 Hera continued to expand its scope of operations through external development, with the aim of providing its customers with increasingly innovative and competitive solutions.

 

Cristian Fabbri, Executive Chairman of Hera Group:


“We closed 2023 with record performance in our main operating and financial indicators, achieved within a macroeconomic environment that was volatile and uncertain. Ebitda reached almost 1.5 billion, net profit attributable to shareholders grew by 16.5% and investments were up by 15%, exceeding 800 million euro. As a result, the economic value distributed to stakeholders in the areas in which we operate reached 2.3 billion euro, up 36%. We achieved these results mainly thanks to the contribution coming from the waste management and energy areas. In the energy area in particular, we achieved significant growth supported by commercial development, last resort markets and energy efficiency services. At the same time, debt fell by 10%, bringing us to a Net debt / Ebitda ratio of 2.56x, allowing the Board of Directors to propose a 12% increase in dividends, equal to 14 eurocents per share. The 2023 results thus confirm the validity of our Group’s strategic vision and constitute the solid building block of our new business plan, approved in January.”

 

 

Orazio Iacono, CEO of the Hera Group:


“In 2023, Ebitda exceed the targets set in the previous Plan to 2026 three years ahead of schedule. The normalisation of energy prices made it possible to reduce net working capital achieving a significant financial structure and a Net debt / Ebitda ratio of 2.56x. The Group thus regained its usual financial flexibility and can continue to seize further growth opportunities in its reference markets, still highly fragmented. Evidence of this lies in the transactions carried out in 2023, which also confirm our focus on generating sustainable growth in the local areas served. This commitment was confirmed by the increase in both shared-value Ebitda, up by 16% to 776.0 million euro, 52% of overall Ebitda, and in CSV investments, which amounted to 558.4 million euro in 2023, approximately 69% of total investments. Finally, we proved our ongoing commitment to sustainable finance, a driving force for our investment plan and confirmation of our desire to create value in the areas served, with particular attention going to objectives including decarbonisation, circular economy, innovation and resilience, consistent with our corporate purpose and the path set out by the Business Plan.”.


For further information
Press release 
Investor Relations web area
2023 Sustainability Report Highlights 

Asset Publisher

26/03/2024

Hera Group approves results as at 31/12/2023

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

04/03/2024

The passing of Hera S.p.A.'s Vice Chairman, Mr. Gabriele Giacobazzi

We hereby inform you that on March 3, 2024, the Vice Chaiman of the Board of Directors, Mr. Gabriele Giacobazzi, passed away.

04/03/2024

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

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

06/02/2024

Over 1 million new electricity customers as of 1 July

With the 7 lots awarded in the tender for the Gradual Protection Service for non-vulnerable household customers, the Hera Group consolidates its position as the sector’s third largest operator in Italy

25/01/2024

Hera Group expands in the industrial waste sector with TRS Ecology

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

24/01/2024

Hera Group presents Business Plan to 2027

Development, resilience and creating shared value for stakeholders are at the heart of the Group’s new strategic document, which foresees investments totalling 4.4 billion to speed up the ecological transition and enhance asset resilience to climate change

18/01/2024

Top Employer for the 15th Consecutive Year

Once again in 2024, we confirm our position among the best performers in human resources management, thanks to substantial investments in welfare, training, and skill development

09/12/2023

In the Dow Jones Sustainability Index for the fourth year straight

Once again recognizing decades-long strategy for long-term value creation for shareholders and for all stakeholders

10/11/2023

Ascopiave transfers 15% of EstEnergy shareholding to Hera Group

Following Ascopiave’s partial exercise of the put option, the Hera Group, through its subsidiary Hera Comm, now holds 75% of EstEnergy, the largest energy operator in North-Eastern Italy

08/11/2023

Hera Group BoD approves 3Q 2023 results

The first nine months of the year ended with strong growth in all economic and financial indicators, confirming the Group’s solidity and the effectiveness of its multi-business strategy

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