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Financial Results Y2022
Message from the executive chairman of the board
In a difficult 2022, sound results exceeded expectations
Foresight in tackling the new scenario and confidence in the solidity of the business model: by leveraging these two strengths, Hera faced the challenges of fiscal year 2022, making progress in all financial KPIs. The purchase of significant amounts of gas, to have adequate stocks available against the threatening energy crisis, was an intuition that has allowed the Group to keep its risk profile under control while continuing with the execution of the investment plan that underpins the continuous business growth.
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Financial Results Y2022
Looking at the figures
Focus on full-year 2022 results
Hera’s EBITDA growth path continued uninterrupted in 2022, with progress of 75.6 million euro that allowed the Group to reach a record level of 1,295 million euro, despite a much more challenging external scenario than was foreseeable at the beginning of the year.
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Financial Results Y2022
Hera on stock exchange
A stronger equity story based on 2022 results and dividend
After the presentation of the Business Plan to 2026 on 8 February 2023, with today’s release of FY22 results, Hera does provide investors with additional confirmation of the founding elements of its equity story. To some extent, analysts have already built in their valuations the features of Hera’s continued growth, achieved by carefully managing the risks of the external scenario.
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Financial Results Y2022
Stories
At the roots of Hera’s 20-year journey
Hera has achieved uninterrupted growth since inception in 2002 to date. Embracing from the very beginning an innovative multi-business and multi-stakeholder model has proved to be a winning choice. Over time, Hera has executed a clear growth strategy, based on two pillars: on one hand fuelling organic development through the deployment of significant technical investments and the expansion of market shares in liberalised businesses, and on the other hand expanding externally through targeted M&A operations, always effectively integrated.
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Business Plan 2022-2026
Message from the executive chairman of the board
Great visibility from the ambitious investment plan
The Business Plan driving Hera to 2026 includes investments for 4.12 billion euro, 7% more than the cumulated amount envisaged for the 2021-2025 period. Organic investments are mainly focused right there where Hera already enjoys a solid competitive position: in the Networks, where the Group has proven to be able to seize the advantages of the regulatory system, and in Waste, where a strengthened asset base will intercept the attractive dynamics of demand.
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Business Plan 2022-2026
Looking at the figures
Focus on 2022-2026 Plan’s targets
Over the five-year period, Hera will concentrate more than half of its 4.1-billion-euro investment plan on Networks, with the aim of leveraging on the existing infrastructure, a real strategic asset that will be strengthened and transformed to respond to the new challenges of Climate Change, while offering the Group visible returns with a low risk profile.
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Business Plan 2022-2026
Hera on stock exchange
New elements of stock valuation from the Plan’s clear path
Despite the recovery from last October’s lows, the price level at which the Hera stock is trading indicates that there is still a considerable gap to fill compared to the FTSE MIB performance and the average share target price of the analyst coverage, today at 3.6 euro. The release of the preliminary 2022 results will provide evidence on the profitability recovery in the Energy area in Q4, together with a declining leverage.
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Business Plan 2022-2026
Stories
Waste: at the hearth of the growth in the Plan to 2026
Hera enjoys a leading competitive position in the Waste business in Italy. The new Plan to 2026 outlines a clear strategy: to leverage the Group’s existing widespread plant base and its ability to intercept annual waste volumes of over 6.7 million tonnes to increase its competitive advantage.