Italy · Delayed Price · Currency is EUR Hera S.p.A. Earnings Call Transcripts
Fiscal Year 2026
-
Structural growth and stable margins drove a 1% net profit increase in Q1 2026, with strong cash flow supporting investments and M&A. Energy and waste segments outperformed, while financial flexibility and ratings remained robust.
-
2025 targets include EBITDA above €1.53bn, net profit over €460m, and a net debt/EBITDA below 2.6x. The plan emphasizes value creation, sustainability, and innovation, with €5.5bn in investments and a focus on regulated businesses, M&A, and rising dividends.
Fiscal Year 2025
-
Net profit rose 4% year-over-year, with strong cash flow, improved leverage, and a 22% TSR. Balanced growth across energy, networks, and waste, supported by M&A and efficiency, positions the group for continued resilience and expansion in 2026.
-
Competitive energy and waste markets drive growth, with strong investment in infrastructure and selective M&A. Customer loyalty remains high, and regulatory changes have minimal impact on current plans. Leverage is low, with flexibility for future growth and capital allocation.
-
Net profit rose 5% year-over-year, with strong cash flow, reduced debt, and double-digit returns. Structural growth in waste and networks offset declines in temporary energy opportunities, while investments and M&A activity accelerated.
-
Q1 2025 delivered 7% profit growth year-over-year, driven by structural gains across all segments and strong cash generation, enabling further investment and debt reduction. Recurring earnings now outweigh temporary market opportunities, with robust performance in energy, waste, and networks.
Fiscal Year 2024
-
Record profit and EBITDA growth in 2024, driven by all business lines and strong cash generation. Financial flexibility and low leverage support ongoing investments and M&A, with continued focus on sustainability and value creation.
-
Nine-month results show strong organic growth, with EBITDA and net profit up significantly year-over-year. Customer base expanded, waste and networks segments delivered robust performance, and financial ratios remain solid, supporting continued investment and shareholder returns.
-
H1 saw EBITDA and net profit growth despite a 33% revenue drop, with strong cash flow and stable leverage. Customer base and waste segment expanded, networks led growth, and sustainability targets advanced. Year-end guidance is positive, with stable debt and continued investment.