Hera closes the first six months of 2017 in progress, confirming the current positive trend with all the main values growing.
The data relating to the first half of the current year approved today by the Board of Directors of the Bologna-based multiutility show an increase in revenues up 10% to $2,75 billion thanks to "the recent acquisitions", but also to the "increased trading activities, the higher regulated revenues of the water service and the electricity area as well as the higher volumes of gas sold", the company says.
Ebitda rose by 7,6%, close to 506 million thanks to the "good performance of all areas of the Group, but in particular the energy areas", whose contribution rises to over 18% of the total thanks to the customer expansion (+122.000) and the good margins achieved in the sale of new lots. The contribution of the waste area was also positive, which represents 24% of total Ebitda with an increase of almost 5 million after having absorbed 11 million of "non-recurring" components due to the shutdown of two WTE plants in Padua and Ferrara ( 4,9 million) as well as for the absence of the Cip6 incentives on the Isernia WTE (6,2 million).
Operating profit was 262,2 million euros, up on the 257,4 million of the same period of 2016, while net income for shareholders rises to 141 million euros, +16,5% compared to 121 million in 2016, also due to a significant improvement in the tax rate, which went from 35,7% to 31,6%.
The operating cash flow is in fact 358 million, allowing Hera to cover the 151 million of investments and the disbursement of 109 million of M&A (Aliplast and Teseco). Dynamics as a result of which the free cash flow available for shareholder remuneration settles at 88 million, while net debt at the end of June stands at 2,6 billion (+2%).
“The results of the 2017 half-year report – comments the CEO Stephen Vernier – confirm the effectiveness of the growth actions put in place at an operational level, as well as the fiscal and financial optimisations. Our main performance indicators also show further improvement, in line with our plan forecasts. We also remain focused on creating value for our stakeholders, reconfirming the attention that our Group has always paid to all dimensions of economic, social and environmental sustainability".
