Hera Board of Directors approves financial results as at 30 June 2026
The results achieved in the first half of 2026 highlight Hera Group’s ability to operate effectively despite a macroeconomic and geopolitical environment still characterised by uncertainty.
EBITDA reached €727 million, up 0.7%, supported by the positive contribution from the Energy and Waste business areas, which more than offset the decline recorded in Networks. Net profit attributable to shareholders increased by 2.7% to €235.5 million.
The Group also delivered a significant increase in gross operating investments, which rose by 23.3% to €510.5 million compared with the first half of the previous year. This confirms Hera’s commitment to strengthening the resilience of its assets and enhancing their technological value, while supporting the ecological transition.
Net financial debt totalled €4,248.6 million, an increase of approximately €304.2 million compared with 31 December 2025. Operating cash flow was sufficient to fund the increase in investments and the distribution of €278.6 million in dividends, thereby limiting the growth in net indebtedness.
The Net Debt/EBITDA ratio stood at 2.75x, confirming the Group’s ample financial flexibility.
| Economic data (mln €) | 1H 2026 | Inc. % | 1H 2025 | Inc. % | Ch% 25-26 |
|---|---|---|---|---|---|
| Revenues | 6,505.8 | 100.0% | 6,786.2 | 100.0% | (4.1%) |
| Ebitda | 726.7 | 11.2% | 721.7 | 10.6% | +0.7% |
| Ebit | 397.7 | 6.1% | 383.2 | 5.6% | +3.8% |
| Pre tax profit | 359.9 | 5.5% | 351.2 | 5.2% | +2.5% |
| Net profit adj. | 253.7 | 3.9% | 249.4 | 3.7% | +1.7% |
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| Shareholders of Parent Company adjusted | 235.5 | 3.6% | 229.3 | 3.4% | +2.7% |
| Minority shareholders | 18.2 | 0.3% | 20.1 | 0.3% | (9.5%) |
Economic data (36 kb - XLS)
To learn more: Financial results Hera has reported since its constitution in 2002: Summary data 2002-2025 (121 kb - XLS)
Page updated 29 July 2026
