News

110 hextra Perseverence, speed and excellence in educational achievement: academic merit was duly rewarded at Hera's offices in Bologna yesterday. A ceremony was held for the Executive Chairman, Tomaso Tommasi di Vignano, to award 40 scholarships to the children of employees who, during the academic year 2015-2016, distinguished themselves for the results achieved in their university studies. The initiative, which is one of the many activities organised by "Hextra", the Hera Group's welfare plan, to support education, was launched last April to reward commitment by adopting objective evaluation criteria, based on the principles of fairness and merit. Indeed, the forty most deserving students were chosen considering a list that was drawn up taking into account the following parameters: whether the student was on track with the study plan for the academic year, the number of credits acquired and the mean marks of examinations passed during the year. The applications submitted to the company were more than 70. Each of the 40 students awarded was given an individual scholarship of 750 euro, amounting to a total corporate investment of 30,000 euro. This is only the latest initiative of the corporate welfare plan that has, since 2017, also been extended to fixed-term employees who have been working at least 6 months. After initially considering the 8,500 people employed by Group companies, Hera has thus taken the final step to fully involve all its staff. "One year after the launch, we are still investing in our welfare plan and in the progress of our employees and their families," said the Executive Chairman Tommasi di Vignano. In one year Hextra achieved remarkable results; hence, we found it natural to extend its efficacy also to fixed-term employees. This decision ranks our company alongside leading international firms. We wish to go on creating value and efficiency for all subjects involved, contributing to protect the portfolio of families in the economically challenging moment the world is experiencing today". Easy Welfare, a company in the sector that reviewed the best practices of over 350 Italian companies, last June awarded the Hera Group at the "Welfare Awards 2017" for the "Best Communication Plan", which recorded the participation in "Hextra" of almost all its staff (97%), recording an overall sum of 1,902,456 euro used by its employees. "Hextra": the Hera Group's welfare plan The Hera Group launched "Hextra" in July 2016. It is an integrated corporate welfare plan that has been studied to make the most of existing initiatives, harmonising its application in all locations where the multi-utility company operates. A standard and yet highly customisable system for all its companies. As a matter of fact, the special feature is the flexible quota that can be allocated as desired by the individual worker, who will decide on the basis of personal and family needs. The sum envisaged for 2017 is 360 euro (against 200 in 2016) and for 2018 is 385 euro. In addition to this, Hera also supports employees with school-age children with an additional contribution to be solely used for schooling expenses. Requests submitted for the year 2016/2017 totalled 3,821, recording an overall amount of over 380,000 euro. 2017-07-27 20170718_foto_gruppo_870x_s1.1500467957.jpg A contribution of 750 euro for every university student, for a total investment of 30 thousand euro. The initiative is part of activities envisaged by "Hextra" to support education. "Hextra" is the multi-utility company's welfare plan that, from this year, has also been extended to employees with a fixed-term contract. welfare_110x150.1470845183.1500391284.png

Energy efficiency "Regarding energy efficiency, operators must be given the time required to obtain investments, and the public must have the opportunity to make the most of it", said Stefano Venier, CEO of the Hera Group, discussing one of the crucial topics of Italian energy policies. Achieving the increasingly ambitious goal of reducing consumptions presents municipalities with new and highly challenging management solutions. In this regard, "finance is not a problem", said Venier, in the introductory notes to the conference 'Financing Energy Efficiency in the Public Administration Sector', held this morning by CESEF (Energy Efficiency Study Centre) in Hera's Bologna offices. Conversely, efficiency enhancing interventions have several tools to obtain the necessary resources". But the system functions effectively only if the division of roles is clearly defined. "The operative setting is crucial for a positive outcome. The Administration establishes goals and targets", said the CEO Venier, "and the operator is required to implement the functional interventions required to achieve them". "Our Group," said Stefano Venier, "has always played a leading role in terms of energy efficiency. With 117 interventions implemented in 2016, we have already cut down consumptions by 2.6%, compared to the 3% goal established for this year, which will be easily overcome as a result of scheduled activities. This is the reason why we reviewed it with an increment, aiming at 5% within 2020". CESEF's Director, Stefano Clerici, said, "The Public Administration Sector must understand the opportunities generated by energy efficiency in economic, environmental and also political terms. Hence, CESEF is building a tool box for energy efficiency in the Public Administration Sector to provide the most appropriate tools to solve the problems that block investments in this framework. Considering funds, it is essential to use the latest public-private partnership agreements that fairly divide the risks of the project between the Public Administration Sector and private operators and attract the abundant resources that are available especially in the banking world". Some success cases in the Public Administration Sector were presented at the conference organised in partnership with Confservizi Emilia Romagna. Participating institutions included the Emilia Romagna Regional Administration, Bologna and Budrio Municipalities, Modena Agency for Energy and Sustainable Development and ANCI Emilia Romagna. Many companies joined the discussion with Hera Luce, a Group member company that ranks second in Italy for public lighting. Best cases presented by Hera Luce included energy upgrading plans that are currently being implemented in some Emilia Romagna municipalities. Energy efficiency 2017-07-27 Read more efficienza_energetica.1501232935.png During the workshop "Financing Energy Efficiency in the Public Administration Sector", organised by CESEF in Hera's Bologna offices, the company's CEO was favourable to the solution adopted for energy management in the Public Administration Sector. Energy efficiency

wsp 110 Water Safety Plans are European protocols for step-by-step monitoring of potable water production and distribution processes. EU Directive 1787/2015 requests, in fact, that member states implement such protocols as soon as possible, and Hera - true to its own history - has no intention of waiting. With a long-standing record of thorough mains water monitoring and outstanding service performance that guarantees - across all served areas - low-priced, high-quality potable water, the multi-utility has now signed an agreement with the Istituto Superiore di Sanità (ISS) to apply, over the two-year period 2017-2018, complete Water Safety Plans on two of its mains water systems. This will allow us to acquire the methodology and develop the skills laid out in the directive guidelines, letting us extend Water Safety Plans to all our mains water systems. This subject will soon be the focus of a conference for industry experts, to be held at the multi-utility's Bologna headquarters on Wednesday 21 June. Key Group managers will be in attendance, as will other institutions/bodies involved in the project. Safety, then, first and foremost. The introduction of a precise, sound standard for all EU states lends further weight to the dedication shown by Hera in recent years. Thanks to extremely early commitment, in fact, the Group has had the infrastructure, analysis facilities and monitoring systems in place - all used on a daily basis - for some time now, allowing our over 3.6 million customers to drink domestic tap water in complete confidence. Guaranteed by no less than 2,000 checks a day, tap water plays a pivotal role in Hera's plans: indeed, the eighth edition of the annual In buone acque ('In good waters') report has now been published, giving a detailed account of every aspect of this essential service. For some years, in fact, the Group has been working alongside Regione Emilia-Romagna and Arpae to develop an application methodology, based on risk analysis, to define water safety plans. That work has resulted in contributions to the Water Safety Plan Guidelines published by the Istituto Superiore di Sanità in 2014 (ISTISAN report 14/21). "As we see it", states Franco Fogacci, Hera Group's Water Manager, "guaranteeing high quality drinking water has always been a top priority, so we can't help but find ourselves in agreement with the framework laid out in the EU Directive. Water Safety Plans", continues Fogacci, "constitute a major challenge for everyone in the industry: we all need to do a great job of providing a response that ensures their effective, accurate implementation. Indeed, I think that Hera's vast experience", concludes the multiutility's Water Manager, "lets us field the skills and resources that help drive such processes, their outcome going beyond the provision of practical services for served areas to provide great examples for other local areas". wsp 2014-03-19 870.1500390469.jpg With years of excellent results behind it, Hera renews its commitment to outstanding potable water quality and, together with the Istituto Superiore di Sanità (Higher Health Institute), aims to apply EU Water Safety Plans to its own mains water systems. A debate on the subject will be held on Wednesday 21st June. wsp 110

Stefano Venier discusses the goals of the UN's Agenda for 2030 The CEO Stefano Venier intervenes at All4thegreen, in view of G7 Environment that will be held in Bologna, to explain the Hera Group's contribution to 10 of the 17 Sustainable Development Goals defined by the UN's Agenda for 2030. The interview touched on several topics, with special focus on the challenges of energy efficiency and circular economy, which was discussed during the conference that was recently held in the Bologna offices of the multi-utility company on 6 June. An important occasion to underscore the virtual link between sustainability, economic growth and social benefits, and also to explain how the commitment to promote separate waste collection and recycling has enabled Hera to achieve, before others, important goals established by the European Union for 2025 and 2030, thus providing a practical answer to the demands of local bodies and of clients who are increasingly keen on themes of green economy. [block]div:row-fluid::db:hr_press_comunicazione::box:69[/block] Stefano Venier discusses the goals of the UN's Agenda for 2030 https://www.youtube.com/watch?v=NKl1XzGwDF0#prettyPhoto 2017-07-27 venier_big_opt.1497006706.png The CEO Stefano Venier intervenes at All4thegreen, in view of G7 Environment that will be held in Bologna, to explain the Hera Group's contribution to 10 of the 17 Sustainable Development Goals defined by the UN's Agenda for 2030. The interview touched on several topics, with special focus on the challenges of energy efficiency and circular economy, which was discussed during the conference that was recently held in the Bologna offices of the multi-utility company on 6 June. Stefano Venier discusses the goals of the UN's Agenda for 2030

Creativity and innovation [block]div:row-fluid::db:hr_press_comunicazione::box:68[/block] Events related with G7 Environment touch core topics with the conference organised by Hera on circular economy in its Bologna offices. The initiative offers the opportunity to present the sustainability report of the multi-utility company, and witnessed the presence, among others, of the Minister for the Environment, Gian Luca Galletti. He pointed out the central role played by circular economy in the framework of the 4th industrial revolution we are experiencing, underscoring the important progress made by regional administrations, such as Emilia-Romagna. Many leading figures from the business world, institutions and research bodies attended the event organised by Hera today to discuss the transition towards increasingly sustainable development models. Key participants included Enrico Giovannini, Professor of Economic Statistics at the University of Rome; Oscar Farinetti, creator and founder of Eataly; Catia Bastioli, CEO of Novamont S.p.A., and Carlo Ratti, Director at the MIT of Senseable City Lab, just to mention a few. They were preceded by Ellen MacArthur's presentation, who is also known for the namesake foundation, which is the most active and important organisation in the world on the scene of circular economy. "Carbon resources will be depleted over a period of 100 years", said Ms MacArthur, "but saving resources will not suffice. We can adopt it to gain time for the transition from linear economy to circular economy that severs the link between scarce resources and our growth prospects by focusing on innovation, education, training and new generations." [block]div:row-fluid::db:hr_press_comunicazione::box:69[/block] Moreover, "Innovation" and "creativity" are the key words of the conference organised by Hera that, through its senior management, spoke about its commitment for sustainability, showing that the Group is strongly committed to 10 of the 17 goals on the UN's Agenda for 2030. The new version of the sustainability report particularly accounts for the "shared value", namely wealth generated by Hera in pursuing the goals of the Global Agenda. Equal to 1/3 of the overall gross operating margin, the shared value of the multi-utility company amounts to 300 million euro for 2016. Said amount was obtained by focusing on three strategic sectors, namely the intelligent use of energy (with 48 million euro generated by promoting energy efficiency, and 29 million euro by making greater use of renewable energy); the efficient use of resources (with 110 million euro obtained by pursuing the transition to a circular economy, and 83 million euro obtained through sustainable management of water resources); innovation and development in the local area (with 18 million euro resulting from innovative projects and digitalisation, 11 million euro for the protection of air and soil, and 35 million euro for the economic development of local communities and social inclusion projects). "These moments of discussion are very important", says Tomaso Tommasi di Vignano, Hera Group's Executive Chairman, because they confirm the international framework of the excellent results achieved by Hera in terms of development of circular economy. Tommasi goes on to say, "What is at stake is the acceleration of a transition that requires everybody's contribution, with special reference to the need for a stable and more homogeneous regulatory framework that can encourage planning, investments and consolidation processes, which are essential, in the long term, for sustainable and lasting growth". 2017-07-27 Creativity and innovation

HeraSostenibile: facciamo circolare le buone idee On Tuesday, 6 June, at 9.30 am, join #HeraSostenibile and follow the Twitter live broadcast of the conference on circular economy sponsored by the Hera Group. The event will also offer an opportunity to present the 2016 Sustainability Report and to discuss creativity, innovation and corporate models 4.0. Hera's event is organised as part of the scheduled initiatives that will be held in Bologna on 5-12 June with reference to G7 Environment meetings. The Hera Group considers the conference an opportunity to open its official channel on Twitter. It will be an additional tool to communicate all the latest news and to improve interaction with its stakeholders. 2017-07-27 On Tuesday, 6 June, at 9.30 am, join #HeraSostenibile and follow the Twitter live broadcast of the conference on circular economy sponsored by the Hera Group. The event will also offer an opportunity to present the 2016 Sustainability Report and to discuss creativity, innovation and corporate models 4.0. Hera's event is organised as part of the scheduled initiatives that will be held in Bologna on 5-12 June with reference to G7 Environment meetings. The Hera Group considers the conference an opportunity to open its official channel on Twitter. It will be an additional tool to communicate all the latest news and to improve interaction with its stakeholders. HeraSostenibile: facciamo circolare le buone idee

110 SCART [block]div:row-fluid::db:hr_press_comunicazione::box:64[/block] There are portraits of famous people and sculptures of animals. But above all, they are works of art made by means of reuse of waste materials destined for disposal. Precisely for this reason, they are part of "Scart: the Beautiful, Useful Side of Waste", a travelling exhibition that hosts the work of students from the Academies of Fine Arts of Bologna and Florence. Created in collaboration with Waste Recycling, a Herambiente Group company, the exhibition is free and open to all; its first stop is in Ravenna. Exhibited at Palazzo Rasponi from 5 to 21 May, it can be visited from 4 pm to 7 pm every day except Mondays. In the coming months the exhibition will stop in the cities of Imola and Modena. Accompanied by a catalogue curated by art critic and former director of the Museum of the City of Ravenna, Claudio Spadoni, the Scart exhibition is addressed to a wide audience, particularly children, with various educational and creative workshops offered on Saturdays 6, 13 and 20 May, also provided free of charge. Thanks to these workshops, children will be involved in various creative activities which encourage thought about environmental issues, focusing on problems and approaching the possible solutions through recycling and reuse. Adults can instead "lose themselves" among the exhibition's halls, and be surprised by the thousands of forms that matter can take on when it passes through the regenerating power of art. The faces of Lucio Dalla, Marilyn Monroe, Frida Kahlo, Mother Teresa, David Bowie and still others will share the stage with more sculptural works depicting various animals which, in Spadoni's words, make up "a heterogeneous bestiary of fun, in some cases carefree, with Dadaist-Surrealist tones". The Hera Group thereby continues the Scart tradition: the project was originally organized by Maurizio Giani, CEO of Waste Recycling, over 18 years ago to positively affect the mentality towards recycling and reuse, precisely through art. An integral part of the multi-utility company's daily commitment to circular economy, Scart faces these challenges in an absolutely innovative fashion, undertaking a new path toward a type of reuse and recycling that recognizes an increasing value in waste, giving it unlimited life and transforming it from a cost into a resource. "We are very pleased that a local company as important as Hera - says the Councillor for Cultural Activities of the Municipality of Ravenna, Elsa Signorino, - interprets the sense of their own work with this spirit, contributing to consolidating a culture of sustainability through art which, together with our citizens, we wholeheartedly support. Additionally, our relationship with Hera in Ravenna has always been oriented to the promotion of many cultural initiatives, and it is wonderful that a multi-utility company leverages the profile of its territorial roots in this way, in the interest of the community and in cooperation with the municipal administration". "Art is not a side-effect of matter - says Tomaso Tommasi of Vignano, Executive President of the Hera Group - but constitutes regeneration that can inspire all other regenerations which the circular economy that Hera works towards every day is based on, through people, means, processes and facilities. In this sense, the Scart project expresses important values that touch the heart of our mission. We are therefore very pleased - concludes Tommasi - to have created an exhibition which, in addition to highlighting the important collaboration with the students of Art Academies, is also worthy because it brings the fruit of their work to various cities touched by our services, in an attempt to initiate, so to speak, the virtuous contagion of ideas and emotions". 2014-03-19 Free and open to all, the exhibition of artwork produced using waste materials can be visited from 5 to 21 May in the halls of Palazzo Rasponi. The Hera Group project, carried out in collaboration with the Academies of Fine Arts of Bologna and Florence, also provides educational workshops for children. scart.bmp

Financial highlights Revenues at € 1,585.5 million (+28.3%) EBITDA at € 306.8 million (+10.2%) Net profits for Shareholders at € 109.9 million (+20.5%) Net debt at € 2,548.7 million Operational highlights Good contribution to growth coming from all businesses, especially the energy sales area Solid customer base in the energy sectors, increasing to roughly 2.3 million customers Management geared towards creating efficiencies and synergies Net debt shows further improvement during the quarter, in spite of the recent acquisitions of Aliplast and Teseco Today, the Hera Group’s new Board of Directors, appointed on 27 April 2017, unanimously approved the consolidated first quarter results, which confirm a rising trend in all main indicators. These positive results were supported by the organic growth ensuing from market expansion, which involved recently awarded tenders for default gas and safeguarded electricity services. Efficiencies and synergies were simultaneously pursued, alongside M&A activities concerning above all acquisitions in the energy area carried out in 2016 (Julia Servizi and Gran Sasso), with the contribution coming from Teseco and Aliplast not yet recorded. Revenues reach almost € 1.6 billion In the first quarter of 2017, revenues amounted to € 1,585.5 million, with a sharp increase over the € 1,235.4 seen in the same period of 2016. This result reflects, in addition to a change in the assignment of general system charges introduced by current regulations, a larger amount of trading, higher regulated revenues in water services and the electricity area, and increased volumes of gas sold owing to climatic factors. EBITDA rises to € 306.8 million EBITDA passed from € 278.4 million in the first three months of 2016 to € 306.8 million at 31 March 2017, recording a growth of over € 28 million (+10.2%). This growth is accounted for by the good performances seen in all Group areas, in particular in the energy areas. These results were also influenced by the acquisitions made during 2016. Operational results and pre-tax profits up, financial management improves Operating profits at 31 March 2017 came to € 187.3 million, up over the € 170.8 million seen in the same period of 2016 (+9.7%). Financial management improved by € 2.6 million, amounting to € 23.1 million at the end of the first quarter, thanks to a good contribution coming from affiliated companies and higher income from safeguarded customers. In light of this, pre-tax profits went from € 145.1 million in the first quarter of 2016 to € 164.2 million in the same period in 2017, showing a further increase in the rate of growth (+13.2%). Net profits for Shareholders grow, reaching roughly € 110 million (+20.5%) Profits pertaining to Group Shareholders at 31 March 2017 rose to € 109.9 million, up 20.5% compared to the € 91.2 million seen in 2016. A considerable improvement in the tax rate was among the factors responsible, going from 33.3% to 29.8% (thanks to a decrease in the Ires rate, benefits ensuing from the application of the “patent box” and tax credits for research and development, as well as tax breaks for maxi amortisations). Over € 150 million in investments and a slight improvement in net debt, in spite of recent acquisitions In the first three months of 2017, Group investments amounted to € 154.1 million, including the acquisition of a financial holding in the Aliplast Group and the plant branch of Teseco, without which the amount is in line with the same period in 2016 (€ 68.5 million). Operating investments mainly concerned interventions on plants, networks and infrastructures, to which one must add regulatory upgrading above all in the gas area, involving a large-scale meter substitution, and the purification and sewerage areas. Net debt settled at € 2,548.7 million, with a slight drop compared to the € 2,558.9 million recorded at 31 December 2016, thanks to the positive and rising cash flow generation which allowed, among other things, the recent acquisitions to be financed. The net debt/EBITDA ratio, calculated on a rolling 12-month basis, therefore settled at 2.7, highlighting an improvement in financial solidity. Gas The gas area, which includes services in natural gas and LPG distribution and sales, district heating and heat management, recorded an EBITDA that settled at € 135.6 million in the first quarter of 2017, increasing over the € 130.3 million seen at 31 March 2016 (+4.1%) thanks to higher volumes of gas sold and the wider scope of the service offered. The number of gas customers rose to almost 1.4 million, up 4.2% over the same period in 2016, thanks to commercial actions, the new portions of the default service awarded and the two acquisitions recently carried out in Abruzzo (Julia Servizi and Gran Sasso). The gas area accounted for 44.2% of Group EBITDA. Water cycle EBITDA for the integrated water cycle area, which includes aqueduct, purification and sewerage services, went from € 49.8 million in the first quarter of 2016 to € 53.3 million in the first three months of 2017 (+6.9%), thanks in particular to higher revenues from delivery. A premium for service quality also contributed to the results, granted by the regulatory authorities based on the current tariffary method. The integrated water cycle area accounted for 17.4% of Group EBITDA. Waste The waste area, which includes waste collection, treatment and disposal services, recorded an EBITDA which went from € 62.4 million in the first quarter of 2016 to € 64.0 at 31 March 2017 (+2.6%). This trend is explained by both the good performances in the urban hygiene sector and the higher volumes of market waste treated. The operational status of the Ravenna and Imola plants in the first quarter of 2017, indeed, allowed free market activities to increase by roughly 8%. These good results were able to more than offset the impact of the end of incentives for renewables, largely linked to a WTE plant in the Molise reagion (roughly -3 million). As regards the company Aliplast, instead, given that the acquisition was formally concluded on 3 April 2017, it will contribute to the Group’s half-year results. Good results were seen in the area of sorted waste as well, which rose to 57.5%, compared to the 56.2% seen in the first three months of 2016, thanks to the wide range of projects implemented across all areas served. The waste area accounted for 20.9% of Group EBITDA. Electricity EBITDA for the electricity area, which includes services in electricity production, distribution and sales, rose from € 31.6 million in the first quarter of 2016 to € 48.4 million at 31 March 2017 (+53.2%), thanks above all to a higher amount of sales on the free market and the safeguarded market, as well as profits in electricity production. In this area, furthermore, the number of customers increased to over 900,000 (+5.6% compared to Q1 2016), thanks among other things to reinforced commercial action and the acquisition of customers from the Abruzzo companies. The electricity area accounted for 15.8% of Group EBITDA. The manager responsible for drafting the company’s accounting statements, Luca Moroni, declares, pursuant to article 154-bis paragraph 2 of the TUF, that the information contained in the present press release corresponds to the documentation available and to the account books and entries. The interim management report and related materials will be available to the public at Company Headquarters and on the website www.gruppohera.it. Unaudited extracts from the Interim Financial Statements at 31 March 2017 are attached. PROFIT & LOSS (M€) 31/03/2017 INC% 31/03/2016 INC.% CH. CH. % Sales 1,585.5 1,235.4 +350.1 +28.3% Other operating revenues 82.1 5.2% 73.7 6.0% +8.4 +11.4% Raw material (732.2) -46.2% (608.5) -49.3% +123.7 +20.3% Services costs (488.8) -30.8% (281.7) -22.8% +207.1 +73.5% Other operating expenses (12.0) -0.8% (12.1) -1.0% -0.1 -0.8% Personnel costs (137.2) -8.7% (132.9) -10.8% +4.3 +3.2% Capitalisations 9.4 0.6% 4.6 0.4% +4.8 +104.8% Ebitda 306.8 19.4% 278.4 22.5% +28.4 +10.2% Depreciation and provisions (119.5) -7.5% (107.6) -8.7% +11.9 +11.1% Ebit 187.3 11.8% 170.8 13.8% +16.5 +9.7% Financial inc./(exp.) (23.1) -1.5% (25.7) -2.1% -2.6 -10.1% Pre tax profit 164.2 10.4% 145.1 11.7% +19.1 +13.2% Tax (48.9) -3.1% (48.4) -3.9% +0.5 +1.0% Net profit 115.3 7.3% 96.8 7.8% +18.5 +19.1% Attributable to: Shareholders of the Parent Company Minority shareholders 109.9 5.4 6.9% 0.3% 91.2 5.6 7.4% 0.5% +18.7 -0.2 +20.5% -3.5% BALANCE SHEET (M€) 31/03/2017 INC% 31/12/2016 INC.% CH. CH. % Net fixed assets 5,663.7 108.3% 5,564.5 108.7% +99.2 +1.8% Working capital 121.6 2.3% 99.9 2.0% +21.7 +21.7% (Provisions) (553.8) (10.6%) (543.4) (10.7%) (10.4) +1.9% Net invested capital 5,231.5 100.0% 5,121.0 100.0% +110.5 +2.2% Net equity 2,682.8 51.3% 2,562.1 50.0% +120.7 +4.7% Long term net financial debt 2,757.3 52.7% 2,757.5 53.9% (0.2) +0.0% Short term net financial debt (208.6) (4.0%) (198.6) (3.9%) (10.0) +5.0% Net financial debts 2,548.7 48.7% 2,558.9 50.0% (10.2) (0.4%) Net invested capital 5,231.5 100.0% 5,121.0 100.0% +110.5 +2.2% 1Q 2017 2017-05-08 For further information 1Q 2017 Consolidated first quarter report shows growth in all operational-financial indicators and a positive contribution coming from all business areas, alongside continuing improvement in net debt. /documents/1514726/4210734/Hera_Group_Consolidate_quarterly_report_as_at_31_march_2017.1494411806.pdf/431600c0-8838-3de5-7c9a-80eacf5f0884?t=1597908154820 /-/hera-board-of-directors-approves-1q-2017-results-1?inheritRedirect=true /documents/1514726/4210734/Hera_Group_Newsletter_Q1_2017_eng.1494402651.pdf/a7f8511a-3667-8939-9631-07f3357634fe?t=1597908153812 /documents/1514726/4210734/Dati_finanziari_ed_operativi_di_sintesi_1Q_2017_eng.1494320025.xls/5c33e18f-6c76-66b0-43fa-a1bd7751036f?t=1597908153470 Financial report as at 31/03/2017 Press release Newsletter as at 31/03/2017 Financial data as at 31/03/2017 centrata Risultati finanziari