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Thanks to the donations of workers, company and customers, Butterfly Onlus has inaugurated three wells in Ethiopia that allow over 3 thousand people to drink clean water In Ethiopia, access to drinking water sources is extremely problematic. It is estimated that, on average, only 27% of the population has access to clean water. From all this derive diseases related to intestinal infections that tend to affect the weakest categories such as children, the elderly and women. This project is part of ongoing programs aimed at improving access to water supply for rural populations in the eastern area of the Tigray and Afar, regions in the extreme north of Ethiopia that live in a serious state of economic and social crisis. Here agriculture plays a predominant role employing 90% of the population. During 2018, for the Hera Solidarity project, thanks to the involvement and collaboration of workers, company and customers, we raised 145 thousand euros, of which 15 thousand for Butterfly Onlus. With this important amount, 3 wells were rehabilitated and then inaugurated. But let's not stop there: the goal for the year 2019 is to collect a useful amount to inaugurate another 4 wells, of which another 4,300 people will benefit. butterfly_foto1_800.1562838805.jpg Pozzi_110 Pozzi_110 2019-07-29

The Hera Group company celebrates its birthday by donating a van equipped for transporting children and their families to the Sant'Orsola Malpighi hospital at the AGEOP of Bologna It was July 1st 2009, when Herambiente was born, which takes the expertise and the rich endowment of Hera Group plants into a new reality that is better able to capture the prospects for development in the sector, characterized by a high fragmentation of operators and by a plant infrastructure insufficient to meet the needs of the country. The roots of the company therefore lie in almost 100 years of history, or in the DNA of those municipalities in Emilia Romagna to which the Municipalities entrusted, in the first half of the 1900s, the management of waste and then, over the years, the construction of the plants of urban waste disposal. Exact ten years of constant growth starting from Emilia-Romagna 2013: four years after its birth, Herambiente starts its expansion in the territories of Padua and Trieste with the acquisition of AcegasAps by the Hera Group, thus acquiring the Padua and Trieste waste-to-energy plants and the Padua storage plant. 2014: territorial expansion continues in northern Italy with the acquisition of the Ecoenergy Srl plant in Castiglione delle Stiviere (MN). Here non-hazardous special waste is transformed into CSS, a secondary solid fuel that feeds thermoelectric, cement and waste-to-energy plants, avoiding the use of fossil fuels. This confirms the company's position as a leader in the recovery of materials and energy from waste, completing the value chain downstream of the usual treatment process. 2016: Herambiente completes the acquisition of some environmental business branches of Geo Nova, which has twenty years of experience in the treatment, recovery, disposal of urban and industrial waste, in particular by detecting the storage plant for hazardous and non-hazardous waste at San Vito al Tagliamento (PN) and the active landfills for non-hazardous waste of Loria (TV) and Sommacampagna (VR). Thanks to this operation, the Group further expands its corporate perimeter in the North East following the logic of developing and strengthening sales in areas where it was already active and thus extending its plant park with a more complete offer for Veneto customers and of Friuli Venezia Giulia. 2017: the acquisition process of Aliplast begins, a leading national company in the collection and recycling of industrial plastic waste and in the recycling and production of regenerated polymers, a decision that testifies to Herambiente's desire to combine its business with the values of the circular economy, with a view to environmental sustainability. With this operation, the corporate scope also extends abroad because Aliplast has offices in Italy, Spain, France and Poland; Waste Recycling acquires Teseco, a leading company in the treatment and recovery of industrial waste, with more than 30 years of experience in the sector of special waste and innovative plants. 1 July 2019: in conjunction with the tenth anniversary, Waste Recycling is incorporated by merger and Herambiente becomes the international leader in the industrial waste sector, with 1 million tons managed per year, able to offer an increasingly complete and personalized service based on the needs of individual customers, be they small or medium and large companies. Circular economy and sustainability at the center of the choices As a company specializing in the treatment of urban waste, Herambiente in these 10 years has therefore gradually integrated industrial waste into its business, creating, in 2014, a dedicated company, Herambiente Servizi Industriali. With the subsequent acquisition of Aliplast it then moved towards the production of regenerated plastic. Along this path, by providing innovative services and technologies, the Group was able to make waste a resource, creating a circular economy for the benefit of the communities but also of national and foreign companies of which it is a partner. Together with customers, in fact, high-value services are developed to improve and streamline business processes and impacts, always combining attention to economic resources and sustainability. The increase in the customer portfolio from 370 in 2009 to 3,000 in 2019 is the acknowledgment to Herambiente of being a serious and reliable partner. A result achieved also thanks to the strong investment in the professional development of its resources, which went from 738 to 1,415 in 10 years, through a constant search for innovation and enriching the technical skills of employees. A gift to Ageop for Herambiente's birthday For ten years at the service of companies and territory, Herambiente has decided to celebrate this birthday by donating to the Associazione Genitori Ematologia Oncologia Pediatrica - AGEOP of Bologna a van equipped for the transport of children and their families from the AGEOP Houses to the hospital Sant ' Orsola Malpighi of Bologna. The association has been welcoming and assisting cancer children and their families for thirty-five years to improve their living conditions. The AGEOP facilities, where small patients and parents are welcomed for free all the time of the therapies, make it possible to realize the synergy with the Pediatric Oncology Department of the Policlinico Sant’Orsola Malpighi allowing to resort to the so-called "protected resignations". This means that children can be discharged as soon as possible, continuing therapies "at home" and therefore with a significant improvement in their quality of life. When the children are not from Bologna, the AGEOP structures become "their home" and the high standards of hygiene and health with which they are conceived make them a safe and welcoming haven in which to face the therapeutic period without ever being left alone in front of the illness . sinistra consegna_chiavi_veicolo Read more 20190702_Herambiente_sets_solidarity_in_motion.1564143740.pdf 10anni_HA_110 10anni_HA_110 2019-07-26

As of 1 July 2019, the Tuscan company Waste Recycling, with its three multifunctional areas in the province of Pisa, joins Herambiente Servizi Industriali (Hasi). Hence, the range of solutions for industrial waste treatment will be expanded. A million tonnes of waste that will be treated annually As of 1 July, Waste Recycling, a subsidiary of Herambiente, is founded through a merger with Herambiente Servizi Industriali (Hasi), which then becomes the largest Italian company dedicated to the management of industrial waste, with registered office in Bologna and three commercial locations in Ravenna, Padua and Pisa. Hasi targets one million tonnes treated per year The objective of the merger is to simplify and further rationalise the overall structure of the company and make corporate coordination activities easier in order to achieve economies of scale with a general improvement in operating efficiency. The entry to Hasi of the three Tuscan multifunctional sites of Waste Recycling (two in Castelfranco di Sotto and one in Pisa, the former Teseco) will also enable an increase in the range of customers, allowing Hasi to transfer more types of waste to the same platform. In Italy, waste from production activities accounts for 80% of all waste produced. With respect to urban waste, industrial waste requires highly professional management systems and cutting edge treatment plants. Thanks to this merger, the volumes treated by Hasi have doubled, up from 550,000 to one million tonnes per year, mainly coming from the chemical-pharmaceutical, petrochemical, iron and steel sectors, and also the manufacturing and food sectors. The same goes for customers, which rose from 1,500 to 3,000, small and medium enterprises and also 250 large customers. The number of employees in the new company Hasi rose from around 40 initially to 200, while turnover reached Euro 140 million per year, compared to Euro 50 million previously. Serving companies Hasi was created in 2014 from an offshoot of Herambiente, the Hera Group company which is a national leader in waste management, with more than 6 million tonnes per year (including urban and special, hazardous and non-hazardous, originating from urban collection and industrial and productive activities). Thanks to the availability of roughly 90 certified Herambiente plants and a network of qualified suppliers throughout the country, Hasi is the Group company that offers services to companies that range from micro collection for small commercial activities to treatment and disposal of all types of waste for SMEs and large industrial groups. With a view to reducing costs and enhancing the circular economy performance of business customers, Hasi's offer has evolved over time, augmenting waste treatment and transport with a comprehensive series of related higher value services: the so-called Global Waste Management, customised solutions to support customers at each phase of management of their waste,always with a focus on recycling and recovery, as also indicated in the EU directives. The companies supported by Hasi with Global Waste Management services actually reach recovery shares of roughly 80%, thanks to efficiency plans proposed to reduce waste produced and an improvement in plant performances. In addition, the synergy with other Hera Group companies allows business customers to access additional services based on the circular economy, such as energy and water efficiency plans, that sit alongside those implemented by Hera regarding waste treatment. hasi_wr_870.1561725495.1563435724.jpg Hasi-WR_870 Read more 20190628_Nasce_la_pi_grande_realt_italiana_dedicata_alla_gestione_di_rifiuti_industriali_DEF.1563435725.pdf Hasi-WR_110 Hasi-WR_110 2019-07-18

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 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. bologna_berti_pichat_870_320.1561565805.jpg sede_berti_870 Read more /group_eng/investor-relations/strategy/strategy-and-business-plan Hera Group Business Plan /group_eng/investors Investor Relations /group_eng/investor-relations/debit-and-rates/green-financing-framework-e-opinion Green Financing Framework e Second Party Opinion 20190626_Cs_Nuovo_green_bond_Hera_final_ENG.1561565634.pdf sede_berti_110 sede_berti_110 2019-06-26

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 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. 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. GH_ASCOPIAVE_870.1560783726.jpg Hera-Ascopiave_870 Read more 20190617_press_release_GruppoHera_Ascopiave.1560792483.pdf Hera-Ascopiave_110 Hera-Ascopiave_110 2019-06-17

The multiutility is an excellent example of the ".future" research of Lundquist, which evaluates sustainability and transparency strategy For a company, attention to sustainability does not incorporate only the implementation of current and future practical actions, but also the way in which these initiatives are described, for example with stories, initiatives and poignant videos. Being sustainable has always been in the Hera Group's DNA. For this reason, the multiutility is in the top eight companies in Italy in terms of on-line communication of the theme of sustainability in the ".future" research of Lundquist, the study that takes into consideration the 100 biggest Italian companies. In the Italian panorama, around twenty companies stand out for the practical and clear way in which they address the significant themes of sustainability and the attention reserved to users of digital channels. The Hera Group is among the six "Silver class" companies, alongside major names like Generali, Tim and Terna, which combine story-telling and involvement in their on-line communication. In particular, the first section of the research conducted by Lundquist, called "Substance", evaluates the sustainability strategy and the transparency of communication. Indeed in this ".future" chapter, the Hera Group distinguished itself as an "excellent example", because it presents clear and detailed information relating to the sustainability strategy and the priority company issues, relating them to the priorities of the global agenda and business opportunities". The most recent products, in terms of communication effectiveness, include the latest Sustainability Report of the Group, in which the contents focus on the creation of shared value, i.e. the multiutility's ability to meet the needs of the local area and tackle the challenges in terms of change geared towards sustainability. Furthermore, it is worth pointing out the new report of the Hera Group "Building the future together", dedicated to the initiatives in which the local community plays an active role, by creating a long-term relationship and a significant environmental impact. lundquist_future_870.1560148207.1563434959.jpg lundquist_future_870 Read more https://lundquist.it/our-thinking/future/ Visit Lundquist.future website /group_eng/who-we-are/hera-group-strategy/shared-value Find out Hera's commitment to create shared value lundquist_future_110 lundquist_future_110 2019-07-18

On the occasion of the presentation of its sustainability report, an event to discuss together with so many authoritative voices of how cities will have to change to face climate change and guarantee wellbeing to future generations. Among the guests, the Nobel Prize for Economics Paul Romer Overview Exploring the transition that the cities of the near future will have to implement to counter the effects of climate change: a transformation that involves institutions, companies, associations and, more generally, citizens. It is the main theme addressed at the conference "Re-inventing the city: smartness and resilience to face new challenges", organized by the Hera Group in Bologna, in the multi-utility headquarters. The young actress Ludovica Nasti stepped in first, performing in a reading of the touching text "I have a dream" by the writer Stefano Massini. Regeneration of resources and sustainability as a business leverage were the focus of the opening speech by the Executive Chairman of the Hera Group, Tomaso Tommasi di Vignano, who then gave the floor to the moderator of the entire afternoon, the director of Rai News 24 Antonio Di Bella. The first intermezzo was dedicated to the video with the results in terms of sustainability achieved by the Group in 2018, and collected in the Sustainability Report. "The most important contribution to urbanization, to tackle climate change, is to improve social cohesion", said during his speech the guest of honor Paul Romer, Nobel Prize 2018 for Economics and professor at NYU Stern School of Business. Then, the other speakers of the conference took turns on the stage, from the architect Stefano Boeri to the Global Ambassador of the B Corp Marcello Palazzi, from the full professor to the Ecole Polytechnique Fédérale de Lausanne and to the IUAV University of Venice, Paola Viganò, to the former mayor of Bogotà, Antanas Mockus, and the current first citizen of Bologna, Virginio Merola. The concluding remarks were made by the Chief Executive Officer of the Hera Group, Stefano Venier, who in his speech also emphasized: "In addition to the technological upgrade, the city of tomorrow will have to be based on the circular and resilient economy, able to adapt to change climate to ensure continuity of essential services for everyone's life”. Finally, the attention of those present was all for the children’s choir "Mariele Ventre" of the Antoniano of Bologna, which performed a moving cover of "Sing For The Climate", the famous song about the environment born in Belgium, in 2012, at the initiative of environmental director and activist Nic Balthazar. Reinventing the city - Regenerating resources to move to a society based on the circular economy During the event the 2018 Sustainability Report has been presented Watch the video with the results achieved in 2018 for the benefit of the served areas lundquist_future_870 Read more https://paulromer.net/about/ Paul Romer https://www.stefanoboeriarchitetti.net/stefano-boeri-biografia/ Stefano Boeri https://nl.linkedin.com/in/marcellopalazzi Marcello Palazzi http://www.studiopaolavigano.eu/at06/at06.html Paola Viganò https://it.wikipedia.org/wiki/Antonio_Di_Bella Antonio Di Bella https://en.wikipedia.org/wiki/Virginio_Merola Virginio Merola https://en.wikipedia.org/wiki/Antanas_Mockus Antanas Mockus https://www.antoniano.it/91-piccolo_coro/ Piccolo coro dell'Antoniano di Bologna lundquist_future_110 lundquist_future_110 2019-07-18

Consolidated 1Q report shows growing results and a positive contribution coming from all main business areas, in particular the water cycle and gas. Focus on sustainability and circular economy confirmed Financial Highlights Revenues at 1,940,4 million euro (+11,4%) Ebitda at 330,8 million euro (+2,5%) Net profit at 129,7 million euro (+3,0%) Net financial position at 2,622 million euro Operating Highlights Good contribution to growth coming from all main business, above all water cycle and gas Solid customer base in energy sectors, rising to approximately 2.6 million customers Today, the Hera Group’s Board of Directors, chaired by Tomaso Tommasi di Vignano, unanimously approved the Group’s consolidated economic results for the first quarter of 2019, which improved over the same period of the previous year, showing constant growth in all main indicators. The company’s winning multi-business strategy was thus confirmed, balanced as it is between regulated and free market activities, with high attention given to sustainability and a circular economy. The Hera Group, indeed, pursues this model through both internal and external growth, always prepared to grasp the opportunities offered by the market also thanks to the financial solidity. The Group’s path of 16 years of uninterrupted growth took a step further on 18 March 2019, when it was included in Borsa Italiana’s FTSE MIB index, which brings together the 40 companies with the highest capitalisation on the Italian stock exchange. In general, the results for the first quarter of 2019 benefited from the higher tariffs on regulated services introduced by the Authority’s updates, in addition to commercial expansion and the creation of efficiencies. Among the changes in the Group’s scope of operations compared to the first quarter of 2018, mention must go to Blu Ranton and Sangroservizi in Abruzzo, Megas Net in the Marche region and, as of March 1st 2019, the integration, in the Ferrara area, of the energy sales activities carried out by CMV Energia e Impianti and the natural gas distribution activities carried out by CMV Servizi, including the subsidiary company ATR. Furthermore, 9 May saw the formal acquisition of 100% of the shares of Cosea Ambiente, a company that manages urban and similar waste services owned by 20 municipalities in the Tuscan-Emilian Apennine. This operation also involved a ten-year concession for the Cosea Consorzio landfill in Gaggio Montano, effective as of the second quarter of 2019. Revenues reach 1.94 billion euro In the first quarter of 2019, revenues amounted to 1,940.4 million euro, rising compared to the 1,741.3 million seen in the same period of 2018. Contributions to this result came above all from growth in revenues from trading activities, power generation and waste treatment business, as well as higher revenues and higher volumes in gas and electricity sales. Ebitda rises to 330.8 million euro Ebitda went from 322.7 million euro in the first quarter of 2018 to 330.8 million at 31 March 2019, showing an 8.1 million increase (+2.5%). This growth is due to the good performances in all Group’s main areas, in particular the water cycle and gas. Improvement was also seen in the results from the waste management area and in other services, while the electricity area remained essentially stable. Operating results and pre-tax profits grow Net operating results also increased, coming to 205.0 million euro at 31 March 2019, up compared to the 197.6 million seen in the same period of 2018 (+3.7%). The change in financial operations came to 3.6 million euro, amounting to 21.1 million at the end of the first quarter, owing to lower dividends received and the application of accounting standard IFRS 16 on operating leases. Pre-tax profits grew by 2.1%, going from 180.1 million in the first quarter of 2018 to 183.9 million euro in the same period in 2019. Net profits up, settling at 129.7 million (+3.0%) Net profits for the first quarter of 2019 increased to 129.7 million euro, as compared to the 125.9 million recorded one year earlier (+3.0%). Profits pertaining to Group Shareholders, instead, came to 124.2 million euro, with a 3.1% growth over the 120.5 million seen in the same period of 2018. These results, considered alongside the improved tax rate (which came to 29.5%, compared to 30.1% in the first quarter of the previous year), are due to factors including the Group’s continuous commitment towards grasping the benefits offered by current legislation, in particular through the depreciations involved in the significant investments made in the direction of Utility 4.0. Profit & Loss (m€) 31/03/2019 Inc.% 31/03/2018 Inc.% Ch. Ch. % Sales 1,940.4 1,741.3 +199.1 +11.4% Other operating revenues 121.0 6.2% 95.3 5.5% +25.7 +27.0% Raw material (1,024.6) (52.8%) (831.4) (47.7%) +193.2 +23.2% Services costs (556.7) (28.7%) (538.5) (30.9%) +18.2 +3.4% Other operating expenses (13.1) (0.7%) (12.7) (0.7%) +0.4 +3.1% Personnel costs (142.9) (7.4%) (140.0) (8.0%) +2.9 +2.1% Capitalisations 6.7 0.3% 8.7 0.5% (2.0) (23.1%) Ebitda 330.8 17.0% 322.7 18.5% +8.1 +2.5% Depreciation and provisions (125.8) (6.5%) (125.0) (7.2%) +0.8 +0.6% Ebit 205.0 10.6% 197.6 11.3% +7.4 +3.7% Financial inc./(exp.) (21.1) (1.1%) (17.5) (1.0%) +3.6 +20.6% Pre tax profit 183.9 9.5% 180.1 10.3% +3.8 +2.1% Tax (54.2) (2.8%) (54.2) (3.1%) +0.0 +0.0% Net profit 129.7 6.7% 125.9 7.2% +3.8 +3.0% Attributable to: Shareholders of the Parent Company 124.2 6.4% 120.5 6.9% +3.7 +3.1% Minority shareholders 5.5 0.3% 5.4 0.3% +0.1 +2.3% Balance Sheet(m€) 31/03/2019 Inc.% 31/12/2018 Inc.% Ch. Ch.% Net fixed assets 6,042.1 108.5% 5,905.1 108.7% +137.0 +2.3% Working capital 118.9 2.1% 115.4 2.1% +3.5 +3.0% (Provisions) (591.8) (10.6%) (588.2) (10.8%) (3.6) +0.6% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% Net equity 2,947.2 52.9% 2,846.7 52.4% +100.5 +3.5% Long term net financial debt 2,760.4 49.6% 2,558.8 47.1% +201.6 +7.9% Short term net financial debt (138.4) (2.5%) 26.8 0.5% (165.2) (616.4%) Net financial debt 2,622.0 47.1% 2,585.6 47.6% +36.4 +1.4% Net invested capital 5,569.2 100.0% 5,432.3 100.0% +136.9 +2.5% be_870x320_slide_eng_senzafascia.1557916317 (1).png 1Q2019 results For further informations /-/hera-bod-approves-1q-2019-results?inheritRedirect=true Press release Read more be_110x150.1557916320.png 1Q_2019_110 2019-05-15