In line with the Group's history, the new Plan continues to expect growing results, thanks to a scenario that shows good opportunities in the areas in which Hera operates. The goals of increasing value creation, cash generation and dividends have been confirmed.
Ebitda in 2029 is expected to grow by +348 m€ compared to the previous plan, reaching a total of 1,76 bn€.
FINANCIAL TARGETS AND ACHIEVEMENTS
| EBITDA | ||
|---|---|---|
| OBJECTIVE |
Achieve EBITDA of €1,760 million in 2029, representing growth of €348 million compared to the 2024 figure, adjusted for temporary opportunities, and in line with the Group's historical results. 1,760 mln € |
|
| DESCRIPTION |
This objective is to be reached through different growth levers, both internal (+248m€) and external (+100m€), able to offset the depletion of some temporary opportunities for approximately -175 m€. |
|
| ACHIEVEMENTES |
The preliminary results for 2025 show an EBITDA exceeding 1.53 billion euros, with structural growth that confirms the trajectory outlined in the Business plan. |
|
| FINANCIAL POSITION | |
|---|---|
| OBJECTIVE |
Maintain the Net Debt / Ebitda ratio at 2.6x by 2029. ~2.6x |
| DESCRIPTION |
The Business Plan intends to maintain the company's solid financial position through the continuous monitoring of all risk factors and a careful management of cash flows. |
| ACHIEVEMENTS |
The preliminary annual results for 2025 show a Net Debt/EBITDA ratio of < 2.6x which confirms the broad financial flexibility available. |
| DIVIDENDS | |
|---|---|
| OBJECTIVE |
Paying higher dividends: from 15 €cents per share paid in 2025 to 19 €cents per share in 2029. 19 c€ |
| DESCRIPTION |
The plan's cash generation allows for an increasing dividend policy, ensuring improved financial stability through 2029 compared to the previous plan. The dividend is expected to be 16 euro cents in 2025 (paid in June 2026) with a progressive increase until reaching 19 euro cents in 2029. |
| ACHIEVEMENTS |
In light of the positive results for 2025, the entire dividend policy has been revised upward, projecting a dividend of 16 euro cents per share in June 2026, up 4% from the last dividend paid and exceeding the growth forecast in the previous Plan. |
Achievement of previous plans
The Hera Group has reached the goals set in its last three five-year business plans to 2018, 2019, 2020, 2021, 2022, 2023 and 2024 demonstrating that it is capable of operating with stability and solidity, able to guarantee a continuous creation of value for its stakeholders, slightly outperforming its operating-financial targets.
Financial KPI
| Financial KPI | FY2023 results | FY2024 results | Guidance 2024 | Status |
|---|---|---|---|---|
| Ebitda (m€) | 1,494.7 | 1,587.6 | 1,470.8 | ✓ Outperform |
| Net profit (m€) | 417.0 | 535.9 | 451.5 | ✓ Outperform |
| Dividend per share (c€) | 14.0 | 15.0 | 14.5 | ✓ Outperform |
| Ebitda CSV (m€) | 776.0 | 822.3 | 809.0 | ✓ Achieved |
| Financial KPI | FY2023 results | FY2024 results | Guidance 2028 |
|---|---|---|---|
| Ebitda (m€) | 1,495 | 1,588 | 1,700 |
| Net profit (m€) | 26.0 | 34.3 | ~34.0 |
| Dividend per share (c€) | 14.0 | 15.0 | 17.0 |
| Ebitda CSV (m€) | 770 | 857 | >1,100 |
Page updated 21 January 2026