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Business Plan 2023-2027
Message from the executive chairman of the board
As growth accelerates, more value to shareholders
With the 2023-2027 Business Plan, Hera clearly defines the path to follow over the coming years. Even in the new, challenging scenario, Hera continues to leverage on a strategy that has been proven effective over time, with well-defined priorities in terms of value creation, sustainability and resiliency.
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Business Plan 2023-2027
Looking at the figures
The business strategy at the basis of 2027 expected ROI
Over the five-year period, Hera will concentrate more than half (about 55%) of the 4.4 billion euro investment plan in regulated businesses (Networks and Waste collection), with the aim of enhancing the existing infrastructure and seizing the opportunities of the regulatory framework, thus generating returns with high visibility and keeping the risk profile low.
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Business Plan 2023-2027
Hera on stock exchange
Higher shareholder returns from an acceleration plan
The rally that Hera’s shares have experienced since last October has only partly covered the wide appreciation room against the average target price of analysts in coverage – currently at 3.53 euro. Preliminary results for the Year 2023, above market expectations, will provide further visibility on management’s actual ability not only to hit strategic targets, but to achieve them well in advance.
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Business Plan 2023-2027
Stories
A more ambitious Business Plan? Numbers prove it
The new 2023-2027 Plan envisages a significant acceleration of growth compared to the previous Plan, whose horizon was 2026. The engine behind more dynamic development lies in higher investments planned over the five-year period. The EBITDA drivers take shape through the number of funds invested, but even through the quality of the selected projects, which offer more attractive returns, and the efficiencies Hera aims to gain in regulated businesses.
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Financial Results 9M 2023
Message from the executive chairman of the board
EBITDA over 1 billion, with high-quality growth
The first nine months of 2023 showed double-digit growth, moving from EBITDA to the P&L bottom line. A set of clear features backs up the quality of the growth achieved over the period. Indeed, this was a cross-sectional growth, which involved operational, financial, and fiscal management, as well as all businesses across the multi-utility portfolio.
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Financial Results 9M 2023
Looking at the figures
Focus on nine-month 2023 results
In the first nine months of the current fiscal year, Hera achieved an EBITDA growth of 15.1%, despite a 22.3% decrease in Total Revenues, due to falling energy commodity prices. Energy areas, which explain 112.4 m€ of the total EBITDA progress of 132.0 m€, recorded a significant increase (+43.8%), leveraging on a fast growth of the customer basis (+310 thousand) and a wide range of services provided, including those successfully addressing the Decarbonisation issue.
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Financial Results 9M 2023
Hera on stock exchange
In a less uncertain environment, Hera represents an ideal quality investment
The last three months have seen an unfavourable scenario for equity investment: interest rates rising steadily, reaching 20-year peaks; the Chinese economy afflicted by persistent weakness; and, on 7 October, the outbreak of war in the Middle East, which exacerbated geopolitical tensions. The indices thus showed a volatile trend. The performance of Hera’s shares reflected this market sentiment: multiples have therefore not yet discounted the brokers’ upward revisions to estimates after half-year results.
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Financial Results 9M 2023
Stories
Ever more, Hera at the heart of the water infrastructure development in Italy
With 1 additional billion, Hera will continue to carry out investments to ensure that Water is supplied, purified and distributed to meet the evolving demand