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Financial Results Q1 2023
Hera on stock exchange
Evidence on falling debt can bring new boost to the value of Hera shares
In a stock market seeking direction, due to uncertainties about when central banks will end their tightening monetary policies, a bullish movement of Hera stock started in recent weeks. Fuelling the rally, in addition to the healthy FY 2022 results, is the stock’s defensive profile, appreciated by portfolio managers in this de-risking phase, after the difficulties of several banking institutions emerged.
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Financial Results Q1 2023
Message from the executive chairman of the board
In Q1, growth goes together with a significant deleveraging
Hera opens 2023 with reassuring results from the first quarter, not just for the entity but also for the quality of the progress achieved. All typical drivers contributed to the 9.4% increase in EBITDA: organic growth, mainly supported by the expansion of the customer base in the Energy areas and the strong competitive positioning in Waste, as well as activities that promote the circular economy and M&A.
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Financial Results Q1 2023
Looking at the figures
Focus on Q12023 results
Hera starts 2023 on a growth path. All KPIs are up compared to the first quarter of 2022, while Net Financial Debt decreases by €472.2 m, thus taking the Debt-to-EBITDA ratio down to 2.84x. The Energy and Waste areas, which outperformed the Group average growth, have driven the 9.4% increase in EBITDA.
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Financial Results Q1 2023
Stories
Significant resolutions at Hera’s 2023 Shareholders Meeting
Anew BoD, full of new profiles, but in the wake of solid continuity. The AGM held on 27 April was a major event. Hera was one of the few Italian listed companies that again allowed its shareholders to be physically present at “Spazio Hera”, where the Meeting took place, even though this year, following the measures to avoid the pandemic, it was still possible to adopt a virtual format, with the vote expressed exclusively by proxy.