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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%.