The 3.3% progress achieved in the quarter at EBITDA level is evidence of Hera’s sound and visionary business-model approach, which was also able to leverage internal and external growth drivers, creating value and offsetting both the negative impacts of the macroeconomic scenario and the WACC cut set by the Regulator.
Despite the increase in net working capital due to the rise in energy prices and the pursuit of an intensive investment programme, Hera managed to maintain a solid financial structure, capable of supporting both customers in need, with bill payment in instalments, and the forthcoming distribution of dividend of 12-euro cent per share, confirming its growing shareholder remuneration policy.
Once again, in the first quarter of 2022 Hera proved the resilience of its business model, by posting a 3.3% EBITDA growth compared to first-quarter 2021, despite the penalising context.
EBITDA achieved growth by leveraging on the contribution of all businesses, with Waste showing the strongest performance (+11.4%), driven by waste treatment activities. The 3.6% progress achieved in Networks EBITDA is even more valuable when considering the 70-bps cut in WACC set by the Regulator.
In early 2022, the stock market’s performance has been heavily affected by a combination of negative factors, whose future evolution is difficult to predict.
Geopolitical tensions, inflation, and rising interest rates, all weigh on the economic growth outlook.
In this context, Hera stock outperformed both the FTSE MIB and the Italian utilities index.
Since its inception, Hera has had “Health and Safety in the workplace” among its founding principles. For this reason, over time it has defined specific strategies and implemented improvement plans that proved to be effective, as shown by the positive performance recorded over the years.
Especially in 2021, Hera achieved a significant decrease both in the frequency of accidents and in the number of days the employees were absent from work, reaching the best results in its history.