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Hera's Board of Directors presents the results for the first half of 2016

Tomaso Tommasi di Vignano

Statement of Executive Chairman Tomaso Tommasi di Vignano

"Despite a rather challenging macroeconomic context, the financial report at 30 June 2016 once again shows increasingly positive results. During the year under review, thanks to the good level of cash generation it was possible to implement the envisaged investment plan and, last June, to distribute a dividend of 9 cents to shareholders, in line with what was specified in the industrial plan for 2019. Additionally, the performance of Hera stock was particularly positive as, since the beginning of the year, it has outperformed the Italian stock market. This was possible thanks to the good fundamentals that have historically characterized our multi-utility Group and the credible growth strategies we have envisaged for the future.
To allow our stakeholders to easily grasp the financial results for the first half of the year, we have decided to create an HTML version of the financial report as of 30 June 2016, so that these date can be consulted quickly and in a way that is simple, fast, transparent and, especially, sustainable, in line with the Group's policies."

Stefano Venier

Statement of the CEO Venier

"In the first half of 2016 Hera enjoyed good performance in terms of free-market activities: its customer base grew along with its positioning in the Marche-Abruzzo area and overall results along the whole value chain.
The Group’s effective operational management, which achieved a significant increase of 12.8% in the last line of the income statement (listed after third party results) was joined by equally effective management in the financial sector. As a matter of fact, the NFP showed further improvement: after 136 million euros were paid to shareholders and investments were made in the amount of 152.2 million, the Group was able to pay down its debt by 27.3 million euros, thus achieving the financial flexibility needed to support its future growth in the best possible way."

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