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.

The portfolio maintained a well-balanced structure, with the liberalised activities reaching 59% of the Group’s EBITDA.

All businesses performed well, as a result of continuous investments and wise management policies, although the extra-returns recognised in regulated activities were not able to fully offset the WACC cut of 22 million euro set by ARERA.

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.

Hera will also allocate significant capital to Waste (29% of total investments), with this area expected to generate attractive returns that will drive the Group’s EBITDA growth. Hera will intercept a demand for increasing circularity, also in new vertical segments, by offering services that thoroughly meet the needs of business customers.

The Hera Group’s continuous EBITDA growth path was not interrupted even by the very challenging external environment experienced in the first nine months of the current financial year. 

EBITDA progressed by 20.4m€ (+2.4%), with the regulated businesses leveraging the service quality to offset the cut in regulated returns while the liberalised businesses were benefiting from careful management policies.

In the challenging operating environment of first-half 2022, once again Hera proved that its business model can deliver continuous EBITDA growth.

The 3.3% progress in the half-year EBITDA was achieved by leveraging a careful search for the best opportunities within each business area and maintaining a low risk profile in managing each of them. In this way, valuable results were delivered in all businesses.

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.