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Debt and rating

TESTATA Debt and rates

Debit and rates

The goal of the Group's financial operations is to maintain an adequate current and projected balance between investments and the use of capital on the one hand, and sources of financing on the other, in terms of both repayment plans and types of interest.

In order to maintain the low risk profile reached, Hera counts on improving the Group's financial structure, setting as a target in the plan to 2027 a Net debt/Ebitda ratio coming to 2.7x, an improvement compared to the previous Plan.

Indexes E2027
Debt/Equity

~ 1x

Debt/Ebitda

~ 2.7x

 

The increase in investments foreseen in the new Business Plan was made possible not only by the positive results reached in 2022, but also by Hera’s financial solidity, which leaves room to manoeuvre with additional unforeseen investments.

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Debit and rates 2 accordion FY 2022


summary of Hera's financial profile

MLN € 2023* 2022* 2021* 2020 2019 2018 2017
Average cost of money (%) 2.9 2.6 2.8 3.0 3.5 3.7 3.6
Short term fin. debt 487.7 1,348.7 371.8 390.1 109.2 (26.8) 212.4
Long term fin. debt (4,315.4) (5,598.5) (3,633.1) (3,617.1) (3,383.4) (2,588.8) (2,735.4)
Net financial position (3,827.7) (4,249.8) (3,261.3) (3,227,0) (3,274.2) (2,585.6) (2,523.0)
Total Net Equity* 3,751.6 3,710.9 3,416.0 3,155.30 3,010.00 2,846.7 2,706.0
Debt/Equity (x) 1.02 1.15 0.95 1.02 1.09 0.91 0.93
Ebitda 1,494.7 1,295.0 1,219.4 1,123.0 1,085.1 1,031.1 984.6
Debt/Ebitda (x) 2.56 3.28 2.67 2.9 2.9 3.5 2.5
FFO/Debt 26% 21% 27% 25% 24% 27% 26%

* Values net of operational adjustments

Download Hera financial profile track record


reached in 2022:
Hera’s rating better than the country’s

INDEXES HERA A2A ACEA IREN
Net financial debt (mln€) 4,249.8 4,258.0 4,349.7 3,346.8
Debt/Equity (x) 1.15 0.95 1.61 1.05
Debt/Ebitda (x) 3.28x 2.83x 3.40x 3.2x
Long term rating        
Standard&Poor’s BBB+/A-2 BBB/A-2 n.a. BBB-
Moody’s Baa2 Baa2 Baa2 n.a.

Source: companies’ annual reports as at 31 December 2022 and communications to financial market.

Debit and rates - data aggiornamento pagina

Page updated 26 March 2024

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