Il Hera Group closed 2021 on a positive note with all the economic-financial indicators up compared to 2020. Despite the complex scenario for the country due to the persistence of the pandemic emergency to which, in the second half of the year, was added the volatility of the energy market, the multi-utility Bologna recorded revenues of over 2021 billion in 10,5, up 49,1%. In consideration of the positive results achieved, the Board of Directors has decided to propose to the Shareholders' Meeting on 28 April the distribution of a dividend of 12 cents per share. Despite the good results, the share yields 2,96% at 3,31 euro.
"The positive results achieved in 2021 highlight a further strengthening of the company's capital and financial solidity, also confirmed by the net debt/EBITDA ratio of 2,66x, an improvement compared to the previous year - commented theTo Stefano Venier -. Positive cash generation has allowed us to make greater investments, with positive effects for the territories in which we operate both in terms of service quality and related activities created. Our greater solidity allows us to face the complex current scenario with confidence".
Hera financial statements 2021: strong growth in revenues, EBITDA and profits
Revenues for 10.555,3 million euro, an increase of almost 50% compared to the 7.070 million of the previous year, thanks to the contribution of all businesses. In particular, the energy sectors were affected by higher revenues from intermediation activities, higher volumes of gas sold and the increase in the prices of energy commodities. Revenues in the waste management sector also increased, due to higher plastics sales and acquisitions in the industrial market.
Il gross operating margin was 1.223,9 million euros (+9%), compared to 1.123 million euros in 2020. This increase is linked to the performance of the energy areas, which also include energy services linked to energy efficiency in residential buildings (bonus facades and superbonus 110%). The positive results recorded in the waste management area were decisive, also due to the increase in the number of plants managed following the recent acquisitions.
THENet income as at 31 December 2021 it rose to 372,7 million, up 15,5% on the 322,8 million of the previous year. Net profit attributable to shareholders also rose sharply, rising to 333,5 million euro (+10,2%).
In 2021 the investments net debt amounted to 570,3 million, up by 7,9% compared to 528,5 million in 2020. Net financial debt was essentially stable, at 31 million as at 2021 December 3.261,3, in line with i 3.227,0 million as at 31 December 2020.
In line with what was announced during the presentation of the industrial plan to 2025 and in consideration of the positive results achieved in 2021, Hera's Board of Directors has decided to propose the distribution of a dividend of 12 cents per share, up on what was envisaged in the previous strategic document. The coupon detachment will take place on 20 June 2022, with payment starting from 22 June 2022. The dividend will be paid to the shares accounted for on 21 June 2022.
Russia-Ukraine war: Hera identifies two systemic risks
With regard to the war in Ukraine and the increases in the prices of energy commodities, Hera states that two systemic risks are taking on increasing importance:
- Una further rise in inflation as a result of energy commodities, with repercussions on consumer products and with a consequent impact on GDP growth and energy demand;
- THEunavailability of gas supplies from Russia – which cover 35%-40% of national consumption – would have, depending on the duration, effects on industrial activities in the coming months and also on domestic thermal consumption if extended beyond the summer period.
"In line with its risk management strategy, the Hera Group is monitoring the evolution of the situation day by day, defining possible risk scenarios for its activities and identifying, where possible, mitigation actions", reads a press release from the Bologna-based company.
