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Financial Results 1Q 2022
Message from the executive chairman of the board
Performance in line with the Plan to 2025, despite the complex scenario
The 3.3% progress achieved in the quarter at EBITDA level is evidence of Hera’s sound and visionary business-model approach, which was also able to leverage internal and external growth drivers, creating value and offsetting both the negative impacts of the macroeconomic scenario and the WACC cut set by the Regulator.
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Financial Results 1Q 2022
Looking at the figures
Focus on Q12022 results
Once again, in the first quarter of 2022 Hera proved the resilience of its business model, by posting a 3.3% EBITDA growth compared to first-quarter 2021, despite the penalising context. EBITDA achieved growth by leveraging on the contribution of all businesses, with Waste showing the strongest performance (+11.4%), driven by waste treatment activities.
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Financial Results 1Q 2022
Hera on stock exchange
The stock market acknowledges the resiliency of Hera’s business through a rewarding outperformance of the shares
In early 2022, the stock market’s performance has been heavily affected by a combination of negative factors, whose future evolution is difficult to predict. Geopolitical tensions, inflation, and rising interest rates, all weigh on the economic growth outlook. In this context, Hera stock outperformed both the FTSE MIB and the Italian utilities index. The market has recognised that the Company has a business model able to counteract the external negatives, through prudent policies and a business portfolio that is well-diversified and resilient.
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Financial Results 1Q 2022
Stories
In 2021, the best “Health & Safety” performance ever
Since its inception, Hera has had “Health and Safety in the workplace” among its founding principles. For this reason, over time it has defined specific strategies and implemented improvement plans that proved to be effective, as shown by the positive performance recorded over the years. Especially in 2021, Hera achieved a significant decrease both in the frequency of accidents and in the number of days the employees were absent from work, reaching the best results in its history.
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Financial Results Y2021
Stories
Aliplast, Hera’s growth engine in the Waste business
Hera’s strategy in the plastic recycling is crystal clear: strengthen its leadership through the expansion in new market segments, with the aim to transform rigid plastics in addition to the flexible ones that Aliplast currently treats and, at the same time, approach new business niches, as in the case of carbon fibres. Aliplast Group – with an EBITDA doubling in 2021 vs. 2020 and reaching 36.5 million euro – will be a key driver of the 122-million-euro growth at EBITDA level that the Group targets in the Waste area by 2025.
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Financial Results Y2021
Hera on stock exchange
Hera, a certainty in a changing scenario
Hera’s share continues to benefit from the high quality of its fundamentals and the visible growth perspectives, given the presence in the Group portfolio of businesses that are regulated or enabling the circularity and the energy transition. As a result of these unique features and benefitting from proactive investor-engagement initiatives, Hera has strongly outperformed the sector index.
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Financial Results Y2021
Looking at the figures
Focus on FY2021 results
During 2021, Hera achieved significant growth in all key indicators of the Profit and Loss Account, from EBITDA, which increased by 9%, to Net Profit post minorities, which rose by 10.2%. All business areas brought a positive contribution to consolidated EBITDA, with Energy and Waste leading the progress, increasing respectively by 14.9% and 13.1%.
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Financial Results Y2021
Message from the executive chairman of the board
Healthy annual results once again confirm our long track record
In 2021, Hera achieved a 9% increase at EBITDA level, which exceeded expectations despite an external scenario still affected by COVID-19. A result that is also valuable from a qualitative point of view, given the wide range of organic factors that have fuelled the growth. Thus, Hera has once again proven how crucial it is to have a multi-business portfolio to leverage, when one is an operator able to guess new trends in demand and promptly satisfy them.
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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%.