In the first half of 2020 Hera continues to growth organically, leveraging on a deep-rooted “culture of efficiency”, and promptly captures the synergies from recent acquisitions, which are proving to be absolutely strategic.
This way, in the first six months of the year we have already absorbed by a comfortable margin the amount of 30 million euro that represent the total Covid-19 impact on the P&L, as shown by the EBITDA growth of 2.5%.
In the next months, with the progressive easing of restrictions that were needed in Italy to contain the virus outbreak, we will be in a position to resume both investment and marketing activities. Hera will then be able to demonstrate the full potential for profitable growth embedded in a business portfolio that has always been managed in this forward-thinking perspective.
In the first half of 2020, amid the pandemic-induced emergency, Hera has fulfilled its commitments toward stakeholders: it has guaranteed continuity of customer service while safeguarding the health of its employees; it has remunerated its shareholders with the 10 euro cent dividend envisaged in the Business Plan; it has made its presence felt the areas in which it operates with material aid to healthcare facilities. It has also intervened to support customers in the most fragile situations and suppliers in temporary difficulties.
Uncertainty and volatility are the key words that have dominated the equity markets in these times of Covid-19 pandemic. Long term sustainability and “green” agenda are the key words that have shaped the new monetary and fiscal policies in Europe.
Hera’s solid fundamentals, confirmed by half-year results, its authentic commitment to 2030 ESG goals, and the room for potential capital gain considering the mean target price of c.4 euro form the pillars of a robust investment case, which looks appealing, especially in the new scenario.
In the age of great changes with global impact, technological progress is one of the most disruptive. It challenges business models, while requiring deep rethinking even of the more traditional activities in the industry.
Widespread use of new technologies is revolutionizing the way multi-utilities operate. It is deeply transforming services offered to customers and their own expectations.