In the first quarter of 2024, following record growth in the previous year, Hera again succeeded in posting healthy operating performance, with EBIT up 4.2%, resulting in a 12.2% increase in Earnings per Share.

Regulated businesses are once again having a significant impact on growth, whereas Hera had lately only been relying on additional efficiencies and service quality rewards to produce sound results. We had been waiting for the application of the new WACC levels expected from the ARERA Resolutions and the adjustment of RAB and costs to the high levels of inflation: an update that is instead currently possible with the new regulatory framework, in force since the beginning of the year.  

The first-quarter 2024 report released today enhances the visibility of Hera’s ability to deliver an attractive return to its shareholders: the profitability growth, as measured by both ROI and ROE, supports an EpS increase of more than 12%, which is also matched by a dividend yield of around 4%. Shareholders will receive a payment of 14 eurocents on 24 June, as resolved by the Shareholders’ Meeting held on 30 April.
With the 2023-2027 Plan presented in January, management has outlined a clear path of continuous improvement in profitability over time as well as a dividend distribution policy that reflects the expected progress in earnings. Therefore, the prospect of attractive shareholder remuneration goes beyond the healthy results of the quarter, with an extension to the perspectives of the coming years.