The new Board of Directors of the Hera Group, established on 27 April 2017, today unanimously approved the consolidated economic results for the first quarter, which confirm a trend with all the main values growing.
In the first quarter of 2017, revenues amounted to 1.585,5 million euros, up sharply compared to the 1.235,4 million in the same period of 2016 (+28,3%). This result, in addition to a change in attribution of the general system charges imposed by the regulations, the higher trading activities, the higher regulated revenues of the water service and the electricity area and the higher volumes sold of gas determined by the climatic effect contributed.
The gross operating margin went from 278,4 million euros in the first three months of 2016 to 306,8 million as at 31 March 2017, recording an increase of over 28 million (+10,2%). In particular, it should be noted that the EBITDA of the electricity business unit recorded a leap of 53,2% compared to the 1st quarter of 2016, settling at 48,4 million (43 million the estimated figure); all other areas are also improving. Despite the increase in depreciation and provisions for the period, the Ebit of the Hera group increased by 9,7% on an annual basis to 187,3 million, exceeding the value indicated by the consensus by 4,1%.
Despite the increase in depreciation, amortization and provisions for the period, Ebit rose by 9,7% on an annual basis to 187,3 million, exceeding the value indicated by analysts by 4,1%.
The net profit for the year of the Bologna-based group is equal to 115,3 million (+19,1%) and the net profit for shareholders has grown by 20,5% to 109,9 million euro against a forecast stops at 100,4 million.
Net financial debt, equal to 2016 billion as at 2,55 March 31, was in line with the value at the end of 2017 and with the consensus. Finally, the investments made in the period in question doubled compared to the 1st quarter of 2016 due to the acquisitions of Aliplast and Teseco.
In Piazza Affari, the Hera share gained 1,38% to 2,792 euros.
