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Hera Group: your Multiservices

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Business Plan
2025-2029

Good performances push forward our strategic plan,
keeping up with the pace on sustainability

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Financial results
9M 2025

The results of a multi-business strategy and long-term value creation,
rising to tomorrow’s challenges today

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Financial results
1Q 2025

The results of a multi-business strategy and long-term value creation,
rising to tomorrow’s challenges today

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Innovators by nature

FIB3R is the first plant in Europe
to recycle carbon fibre on an industrial scale

Innovation accelerating the ecological transition

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Together Newsletter
Sharing stories and ideas

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Innovation for
Sustainability

We invest in research and development to find new solutions that aim for a
sustainable future, creating value for our Group and the local area we serve.

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Hera: yesterday, today, tomorrow

The Hera Group is the first Italian coalescence of municipally owned companies that (adopting a multi-business approach oriented to the creation of shared value for all stakeholders) manages the supply of energy, water and environmental services, as well as public lighting and telecommunications to citizens and businesses. Founded in 2002 and listed on the Italian stock exchange in 2003, Hera has made its direct relationship with the territory a real asset that has improved its resilience and ability to drive change: ecological transition, circular economy and innovation. Within the national context, the prime position of our Group can be detected from its statistics: more than 9,400 employees work to offer tailor-made services for customers and businesses, and to meet the needs of 4.2 million citizens in 311 municipalities located in Emilia-Romagna, Veneto, Friuli-Venezia Giulia, Marche and Tuscany.

Citizens and customers have always been aware of the vital need for the services we provide to the local area, and they recognise our reliability, competence, and responsibility in managing the business. This confirms and strengthens the "purpose" that directs us and encourages us to strengthen our strong ties with the communities we serve.

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Together to Build the Future

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Hera Group:
Y2024 financial results and next targets

An overview of our services to citizens and local enterprises, our business model and track record of the Group over the last 20 years of Hera's activity.

A sustainable strategy

Our business plan is based both on regulated markets and on free market activities, always incorporating the principles of sustainability and working to create shared value.

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Business Plan to 2029

Business Plan 2025 – 2029
To create value by strengthening resilience while keeping up with the pace on sustainability

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Financial Statements 2024

Financial results as at 31 December 2024
The consolidated financial results as at 31 December 2024 were approved by the Board of Directors of the Hera Group on 26 March 2025

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Creating shared value 2024

What we said we would do, What we did, What we will do: we report on goals and results for the sustainability of today and tomorrow

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A Circular Vision

Through our activities we contribute to achieving the sustainability goals set out in the UN's 2030 Agenda.
Of the 17 goals set by the United Nations, we pursue 11 that are in line with our services, along three lines: smart use of energy, efficient use of resources, and innovation and contribution to development.

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Smart Use of Energy

We are working towards this goal by reducing our energy consumption, promoting renewable energy sources, and pursuing decarbonisation.

Efficient Use of Resources

We are committed to increasing the quality of separate waste collection and the recovery of materials and energy, and are working on major initiatives to improve the circularity of our services.

Innovation and contribution to development

We create economic development and employment for our local area by investing in innovation and digitalization. We also focus on initiatives to protect the air and soil.

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Our purpose

Shared Value Investments

Throughout our ongoing growth process, we are committed to offering our investors clear and transparent
information, while working to ensure our shareholders receive an adequate return on their investment
both in economic terms and in terms of creating shared value.

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Dividend

In its mission statement, Hera has declared its intention to ensure continuous creation of value for its shareholders, offering a suitable return on the capital they have invested.

Source: Financial Results 2024 and Creation of Shared Value 2024

Investimenti Sostenibili/Perchè Investire

Strategy and Business plan

The Hera Group has revised all five-year targets upwards, starting with EBITDA, which is expected to reach €1.76 billion by 2029. The Plan to 2029 provides for total investments of over €5.5 billion, of which €2.6 billion is allocated to organic growth. The defined growth targets translate into a return on invested capital (ROI) of 9.3% by 2029. Structural earnings per share are expected to grow at an average annual rate of around 6%, supporting dividend growth to reach €0.19 per share by 2029. Total shareholder return, which considers both the expected earnings trajectory and dividend yield, is therefore expected to average approximately 10% per year.

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Scenario & Megatrend

The Plan to 2029 is built around the Group’s structural growth and has been developed according to a balanced development model across its various businesses, designed to address the needs of all stakeholders. It is based on concrete initiatives aligned with the main national and international policies on energy transition, the circular economy and innovation. The guiding principles of the new Industrial Plan, which take into account the particularly challenging external environment in which we operate, will enable the Group to turn challenges into opportunities and to further strengthen all business activities. The planning framework is built on three strategic levers: value creation, sustainable growth, and the strengthening of risk management and operational resilience. Innovation acts as a cross-cutting enabler underpinning the entire plan.

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Our Governance System

The mission of our governance system is to create shared value for all our stakeholders. To do so, corporate governance is committed to assessing the constantly evolving environment in which we do business to ensure that growth continues and to strengthen our relationship with the local community.

Cards Custom Governance

Governance System

An effective system to assess the complex stimuli coming from the surrounding environment.

By-law

Governance report

Internal Dealing

BoD

The company's executive body

Composition of the BoD

Activity carried out

Governing CSR

Shareholders' meetings

The company's deliberative body

Shareholders' meetings

Vote in general meeting

Shareholders' meetings regulations

Innovators by nature

To continue to innovate, we are setting ourselves increasingly ambitious targets

Environment

Digitalization

Circular
Economy

Research

Motivo di orgoglio

For us, the biggest reward is customer satisfaction,
but it is a source of pride when others acknowledge our commitment.

Top Employer

For the 17th time, also in 2026 in we are at the top of the ranking, among the first three Italian companies for excellence in human resource management.

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Blomberg Gender Equality Index

Bloomberg Gender - Equality Index

This year, for the fourth year in a row, we have been included in the international index assessing gender equality, diversity and inclusion

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Together we can make a difference

Together
we can make
a difference

Sustainability starts with small daily gestures. Read the stories, get inspired and discover how you can contribute to the creation of a more sustainable present and future.

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Our Results

We are committed to balancing economic and financial objectives with environmental and social sustainability, to create value for ourselves and for the local area we work in.

1,587.6

€ million
EBITDA

(+6.2% compared to 2023)

856.6

€ million Shared value EBITDA

54% of total (+10.4% compared to 2023)

12,889.7

€ million Revenues

494.5

€ million

Net profit attributable to shareholders

171.3

€ million

Investments in innovation and digitalisation

79/100

Customer satisfaction index

Source: Financial Results 2024 and Creation of Shared Value 2024

Continuous Growth

Development, resilience and creating shared value for stakeholders are at the heart of the Group’s new strategic document to 2029, which foresees investments totalling 5.5 billion to speed up the ecological transition and enhance asset resilience to climate change.

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News hp eng

NEWS

Asset Publisher

09/03/2026

Hera Group acquires control of SEA

Through Herambiente Servizi Industriali, national leader in industrial waste treatment, the multi-utility increases its stake in the Ancona-based operator to 83%. A significant opportunity for the local area, with employment expected to double