Hera raise the bar. In the new Industrial Plan the Bologna-based multiutility expects al 2026 an overall gross operating margin of 1.470 million euros, up by 246 million compared to the final 2021, for an average annual growth of around 50 million. This will allow the dividend to grow up to 15 cents per share (+25% compared to the last dividend paid).
In detail, organic growth will contribute to the overall increase inEbitda for 146 million, fueled mainly by the margins associated with the new projects, by the industrial and commercial developments envisaged in the Plan and by the efficiencies and synergies on the current perimeter. A further contribution of 100 million will come from M&A activities, of which approximately 24 million deriving from recently concluded transactions (Macero Maceratese from the Marches and ACR from Modena).
“The growth in the preliminary data for the year that has just ended confirms the resilience of our activities. - he has declared Thomas Thomas di Vignano, executive chairman of the Hera group, after the multiservice board of directors approved the new business plan -. Our development strategy therefore continues, which focuses on our distinctive know-how in terms of circularity, efficiency and energy transition to meet the rapid growth in demand from customers who are increasingly sensitive to energy saving and environmental sustainability. In the new Plan, focused on the creation of value for all stakeholders, we envisage significant investments and increase all previous commitments, including those relating to the dividend distribution policy.”
The 2026 coupon will rise to 15 cents
Hera plans to deploy dividends continuously growing: on the occasion of the approval of the 2022 financial statements, the Bolognese multiutility announced that it will propose to the Board of Directors a dividend of 12,5 cents per share, up on the 12 cents of 2021. A progressive increase of the dividend, which will reach 15 cents per share in 2026, +25% compared to the last one paid. Net earnings per share are expected to grow by more than 3% on average per year.
Investments of over 4,1 billion
The Plan to 2026 envisages investments a total of over 4,1 billion euro, on average around 825 million a year, an increase compared to the previous planning (+53%). 60% of the investments will benefit regulated businesses and the remaining 40% will benefit free market businesses.
Furthermore, 70% of the planned investments will meet the objectives set by the UN Global Agenda for 2030, while as far as the European Taxonomy is concerned, all, or almost all, of the capital allocated to eligible assets (about 98%) is in line with the technical criteria defined by the European Regulation. Furthermore, 40% of the investments will be reserved for interventions in favor of the security and resilience of the managed assets and over 30% for the promotion of digitization and innovation.
EBITDA up to 1,47 billion
Hera expects to close 2022 with growing results, higher than expected: the preliminary final EBITDA stands at approximately 1.285 million euro, approximately 60 million more than the 2021 EBITDA, while the net debt/EBITDA ratio is expected at approximately 3,3, 2022x, an improvement compared to the previous quarters, more appreciable in the light of the extraordinary situation of the market, the increase in the costs of energy commodities and the growth in investments made in 780, for around XNUMX million.
