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Business Plan 2021-2025
Stories
The 2025 Plan marks a turning point. The numbers have the floor.
To explain how the new Plan to 2025 signs a substantial change of pace compared to the Plans that Hera presented in the past, we focus on evidence emerging from the key targets. From this exercise, some of the features that characterise the Group’s new strategic commitment for the coming years appear crystal clear: the average annual investments planned are in total 59% higher than those made in the last five years and 20% higher than those in the Plan to 2024, with a significant contribution from organic investments (+16%).
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Business Plan 2021-2025
Hera on stock exchange
More ESG value to Hera shareholders
The new Plan to 2025 expresses a clear equity story, based on the growth acceleration of both EBITDA and Earnings per Share. It also leverages the high visibility of the factors that drive an increasingly green path. Investors will have new elements to evaluate the Hera stock, starting from the 2025 targets, which also envisage a higher remuneration through dividends following higher expected earnings, while the financial profile remains solid.
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Business Plan 2021-2025
Looking at the figures
Focus on 2021-2025 Plan’s targets
With its sustainable approach to business, the multiutility nature and many circularity projects matching the Recovery Fund, Hera is well positioned to leverage the increasing sustainability demand coming from the policy makers and from the market itself. Leveraging 98% of investments that are taxonomy-compliant, and for about two-thirds consistent with Shared Value criteria, Hera expects to give a strong “Green” boost to EBITDA growth.
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Business Plan 2021-2025
Message from the executive chairman of the board
The high visibility of earnings growth paves the way for the increase in dividends indicated in the new Plan
In the new Business Plan to 2025 Hera expresses its commitment to make a concrete contribution to the path towards greater environmental sustainability, through a significant capital expenditure and investment plan of 3.8 billion euro in total. The cumulative capex and investments over the 2021-2025 period, due to the careful allocation in different business areas, help fuel a strong growth of EBITDA, which is expected to reach 1.4 billion euro at the end of the Plan.
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Financial Results 3Q 2021
Stories
A strategic presence in the energy efficiency business
The energy efficiency business is experiencing an unprecedented expansion, given the incentive systems that the Italian government is providing, mostly in the private condominium market. Hera has always been active in the market for private residential customers, large condominiums. Since the introduction of the 110% ecobonus, the Group has continued to position itself as a leading operator with consolidated experience in energy requalification work.
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Financial Results 3Q 2021
Hera on stock exchange
Despite huge outperformance of the utilities index, Hera still has broad scope for revaluation
The utilities sector is certainly not one of the sectors that investors have favoured during 2021; nevertheless, Hera shares have performed well since the beginning of the year, leveraging the generally positive tone of the stock markets and a number of Company-specific factors that have boosted the share price. While the stock markets continue to rise, supported by expectations of a post-pandemic economic recovery and still accommodating monetary policies, there is great volatility, mostly due to the sharp increase in the prices of energy commodities and their inflationary effects.
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Financial Results 3Q 2021
Looking at the figures
Focus on nine-month 2021 results
The results of the first nine months of 2021 show that Hera is pursuing the targets indicated in its long-term strategy. Results delivered quarter after quarter prove consistency with these commitments and flexibility in their achievement even against changing contexts. The strong EBITDA growth of 77.1 m€ that the Group achieved mainly derives from the improvement of the Energy area, whose EBITDA increases by 37.1 m€, driven by the recovery of operating conditions that were more ‘normal’ than in the past year, given the more favourable weather conditions and the reduced restrictions to control the spread of the virus.
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Financial Results 3Q 2021
Message from the executive chairman of the board
Growing results, with a careful approach to minimising risks and seizing opportunities
The results of the first nine months of 2021 show a significant growth in terms of EBITDA, around 9.6%. A growth that is significant also for its strong organic component. Leveraging on a proactive approach in non-regulated business, today Hera can fully benefit from the recovery in volumes compared to the period of restrictions imposed by the pandemic while it is reaping the attractive returns from the energy efficiency solutions developed under the incentive system provided by the National Recovery and Resilience Plan.
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Financial Results 1H 2021
Stories
Hera’s great commitment behind high Customer Satisfaction
The findings from the 2020 survey indicate that clients are generally “delighted” with the services they receive from Hera. Even in a difficult year, marked by the pandemic, Hera has found ways to interpret and anticipate the expectations of its customers. The digitalization has continuously enriched the customer experience, while new offers have paid increasing attention to the environment and the specific individual needs.
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Financial Results 1H 2021
Hera on stock exchange
Sustainability and growth strengthen Hera’s equity story
Hera’s share price has performed well since the beginning of 2021, also compared to the performance of benchmark indices. Equity markets have maintained a positive tone even after the start of the normalisation of monetary policy that the Fed announced on 16 June, despite the volatility induced by inflationary fears and, more recently, by the growing infections due to variants of the virus.
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Financial Results 1H 2021
Looking at the figures
Focus on first-half 2021 results
First-half 2021 results confirm that Hera is following the path indicated in the Business Plan, while consistently implementing a circular economy model and pursuing its commitment – attested by STBi – to reducing greenhouse gas emissions. The strong growth that the Group achieved in 1H 2021 EBITDA derives more than 54% from the contribution of the Energy area, which sees a return to more normal operating conditions compared to the first half of 2020, as a result of less severe anti-Covid restrictions and more favourable weather conditions.
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Financial Results 1H 2021
Message from the executive chairman of the board
Behind the strong growth, a platform structured to adapt to the opportunities and challenges of the scenario
Hera achieved significant half-yearly growth in terms of both size and quality. A more favourable scenario than that of the first part of 2020, with regard to the effects of the pandemic and the climate, only partly explains the 10.4% progress in EBITDA: organic growth continued indeed, together with that driven by M&A. Comparison with pre-Covid levels of the first half of 2019 indicates even greater progress, in the order of 13.2%.
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Financial Results 1Q 2021
Stories
The roots that strengthen Hera’s innovation
One of the typical features of companies that are leaders in their industry is the ability to consolidate their leadership over time through innovation. Hera nurtures that intangible asset, the innovation, through continuous investment, by leveraging some specific strengths.
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Financial Results 1Q 2021
Hera on stock exchange
In a well-oriented stock market, Hera has several elements of appeal
In these early months of 2021, Hera’s share price has gained strength. And not only in absolute terms, with a rise of over 10%, but also because it has outperformed the index of the utility sector. In the last few trading sessions, the stock has even outperformed the FTSE MIB, which is heavily weighted towards stocks that allow the theme of future recovery to play out in a catch-up trade.
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Financial Results 1Q 2021
Looking at the figures
Focus on Q12021 results
In first-quarter 2021, Energy areas drove the EBITDA of Hera Group. Overall, EBITDA grew by 3.7%, against a scenario that proved to be less penalizing than that of the same period of 2020, in terms of both weather conditions and severity of anti-Covid restrictions. Quarterly results provide a clear picture. On the one hand, Hera is constantly looking for new efficiencies, especially through innovation; on the other hand, it continues to expand its customer base in a selective way, by leveraging also on value-added services and high-impact activities for the implementation of circular economy. With such a model, Hera achieves healthy returns.
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Financial Results 1Q 2021
Message from the executive chairman of the board
Sound first-quarter results strengthen Hera’s competitiveness
First-quarter results demonstrate Hera’s ability to post healthy growth rates in an improving scenario. The increase of 3.7% in EBITDA indicates that around 70% of the negative impacts related to Covid-19 and mild temperatures, which affected the first quarter of 2020, have been recovered. The Net Profit growth of 6.2% – therefore higher than that at EBITDA level – proves the positive contribution of both financial and fiscal management.
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Financial Results Y2020
Stories
How Hera became “the top multi-utility in the world”
Since 23rd November 2020, Hera is part of the selected group of 323 companies included in the Dow Jones Sustainability Index World, a basket consisting of listed companies that are in the top 10% of the ranking for their sector.
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Financial Results Y2020
Hera on stock exchange
More attractive and visible returns for Hera’s shareholders
The solid results of fiscal year 2020 represent a milestone in Hera’s growth path considering the scenario in which they were achieved. Therefore, they provide an anchor of certainty in a context of stock markets suffering from a severe lack of visibility, especially on the timing of exit from anti-pandemic restrictions.
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Financial Results Y2020
Looking at the figures
Focus on FY2020 results
In 2020, Hera leveraged the benefits resulting both from the recent acquisitions and from the synergies already extracted in the first year of their management, to continue the growth path indicated in the Business Plan. Thus, the Group achieved a 3.5% increase at EBITDA level, despite the challenging environment due to the economic effects of the restrictions to fight the spread of Covid-19 and the extremely mild weather conditions.
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Financial Results Y2020
Message from the executive chairman of the board
A more generous dividend based on a 2020 cash flow beyond expectations
Despite the pandemic scenario, 2020 proved to be a year of reassuring results in many regards. Behind the performance of financials, which exceeded forecasts, we boast a solid business model, a proven successful growth strategy, as well as a thorough execution of stakeholder-supporting policies that can be shaped by the needs of the moment.