The Hera group closes 2016 on a positive note. On the basis of the economic-financial and environmental indicators approved today by the Bolognese multi-utility's board of directors, the board has decided to propose to the shareholders' meeting a dividend of 9 cents per share.
Starting with the accounts, in 2016 the company's revenues remained essentially stable at 4.460 million euros (-0,6%) compared to the previous year, discounting, according to what we read in the note issued by the company, the drop in prices of energy commodities and legal and regulatory impacts, in particular the return on invested capital (WACC). The gross operating margin recorded a growth of 3,6% to 916,6 million euro, while net income showed a substantial increase, settling at 207,3 million, a figure which in percentage terms represents an increase of +14,8% compared to the previous year.
The group's net financial position also did well, down to 2.559 million, with a reduction of 100 million compared to 2.652 million in 2015.
With reference to only fourth quarter 2016, EBITDA amounted to 266 million (+8,9% on an annual basis), higher than the 256,1 million expected by analysts, thanks above all to the greater contribution of the gas area (+21,5% to 114,1 millions). Ebit, equal to 127,9 million, also grew compared to the same period of the previous year, despite the increase in depreciation and provisions. The improvement in financial management in the period in question, with net financial expenses down by 23,3% on an annual basis, and the lower incidence of taxes have allowed the Hera group to close the 4th quarter of 2016 with a net profit of 65,1 million. This is a growth of 17,3% compared to the same period of 2015 and 9,7% higher than estimated by analysts. Net financial debt fell as at 31 December 2016, settling at 2,56 billion compared to 2,57 billion at the end of September and 2,65 billion at the end of 2015. Up 16% on an annual basis to 135,2 million operating investments made by the Hera group in the 4th quarter of 2016.
Based on these numbers, the dividend proposal is confirmed at 9 euro cents per share, in line with the 2015 dividend and with what is indicated in the Business Plan.
"The final results are even more appreciable in the light of the particularly important challenges that characterized the reference scenario throughout the year that has just ended - stated the executive chairman of Hera, Tomaso Tommasi of Vignano, – and for the positive contribution offered by all growth levers both organic and externally. They also constitute – he added – a solid starting point for the continuation of the uninterrupted growth envisaged by the industrial plan to 2020, already approved by the Board of Directors, which is correlated with a progressive growth of the dividend per share, to the extent of 11% in flat arch".
“A year full of important results is coming to an end, desired, sought after and consistently achieved over time. – reiterated the CEO Stefano Venier – Proof of this is not only the economic-financial components, which are significantly improving, but also and above all the excellent operating performance and the quality of the industrial initiatives put in place to achieve lasting, sustainable growth in the value of the company and the induced social value .”
Su Piazza Affari, the stock gains 1% to 2,53 euros.
