In 2024, Hera delivered solid operating performance, with EBITDA growth of 6.2%, which was reflected all the way to the P&L bottom line, with a 32.2% increase in Earnings per Share. An impressive result also from a qualitative point of view, considering the purely structural nature of the activities underlying the progress achieved.
An additional proof of the healthy results deriving from the effective strategic approach lies in the deleveraging that continued in FY2024, with the Debt-to-EBITDA ratio dropping to 2.5x in a year of significant investments made and higher dividends distributed: a reflection of the strong cash generation achieved through a successful operating and financial management. Therefore, in 2024 Hera succeeded in offering its shareholders a Total Shareholder Return of nearly 36%, among the highest levels in the industry.

Investors have welcomed the Plan that Hera’s management presented on 23 January 2025. Since then, shares started a rally that led the price to approach 4 euro – a level representing a five-year high. The wide overperformance achieved vs. the index of Italian utilities shows that the Company-specific component was a fundamental driver in nurturing the rise.  

Hera has characteristics that are particularly attractive in a phase of great uncertainty in the external scenario, given its low risk profile and the ability to deliver growing results regardless of the macroeconomic variables, the regulatory framework and the evolution of the competitive environment. Being a purely domestic player also meets the favour of investors in the face of the tariff war that is destabilising the operating scenario for multinational companies.