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Debt and rating

TESTATA Debt and rates

Debt and rating

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 2029 a Net debt/Ebitda ratio coming to 2.6x, an improvement compared to the previous Plan.

Indexes	E2029
Debt/Equity	~ 0.9x
Debt/Ebitda	~ 2.6x

Debit and rates 2 accordion FY 2022

Financial soundness

summary of Hera's financial profile

MLN €	2024*	2023*	2022*	2021*	2020	2019	2018	2017
Average cost of money (%)	2.8	2.9	2.6	2.8	3.0	3.5	3.7	3.6
Short term fin. debt	87.6	487.7	1,348.7	371.8	390.1	109.2	(26.8)	212.4
Long term fin. debt	4,051.3	(4,315.4)	(5,598.5)	(3,633.1)	(3,617.1)	(3,383.4)	(2,588.8)	(2,735.4)
Net financial position	(3,963.7)	(3,827.7)	(4,249.8)	(3,261.3)	(3,227,0)	(3,274.2)	(2,585.6)	(2,523.0)
Total Net Equity*	3,986.9	3,751.6	3,710.9	3,416.0	3,155.30	3,010.00	2,846.7	2,706.0
Debt/Equity (x)	0.99	1.02	1.15	0.95	1.02	1.09	0.91	0.93
Ebitda	1,587.6	1,494.7	1,295.0	1,219.4	1,123.0	1,085.1	1,031.1	984.6
Debt/Ebitda (x)	2.50	2.56	3.28	2.67	2.9	2.9	3.5	2.5
FFO/Debt	29%	26%	21%	27%	25%	24%	27%	26%

* Values net of operational adjustments

Download Hera financial profile track record

Financial solidity indexes

reached in 2024:
Hera’s rating better than the country’s

INDEXES	HERA	A2A	ACEA	IREN
Net financial debt (mln€)	3,963.7	5,835.0	4,953.6	4,082.7
Debt/Equity (x)	0.99	0.97	1.72	1.22
Debt/Ebitda (x)	2.50x	2.51x	3.18x	3.20x
Long term rating
Standard&Poor’s	BBB+/A-2	BBB/A-2	n.a.	BBB
Moody’s	Baa2	Baa2	Baa2	n.a.