Analyst Presentation 3Q2021 [1363kb - PDF]

Growing solid,

sustainably and safe

3Q 2021 Financial results

Nov. 10th, 2021

9 months 2021 results in a snapshot

EBITDA		EBIT	NET PROFIT		FREE CASH FLOW
(m€)		(m€)	(m€)		(m€)
	883		471	308*	2.97x	2.75x
786	806	406	415		2.57x
233
	231

9M'19	9M'20	9M'21	9M'19	9M'20	9M'21	9M'19	9M'20	9M'21	9M'19	9M'20	9M'21
+9.6% 9M'21/9M'20	+13.5% 9M'21/9M'20	+32.3% 9M'21/9M'20	Solid leverage

Strong growth & solid financial structure

GRUPPOHERA 01

*Including 56m€ of «one off» special items

More growth driver at work

Sector Consolidation

Organic Growth

Tenders in all sectors

Italian recovery

3 M&A (Recycla, Valortigara and Sea) to strengthen industrial waste platform on ref. territory.

2 M&A further expanding of energy (Ecogas with 20k customers and Wolmann Photovoltaic retail market).

Entreprise Value of 126m€

Ebitda (of full integration):	21m€
Plant Capacity:	236kton/Y
EV/Ebitda:	6.1x

Increased capex by +13% to expand infrastructures

Market share increase in Energy and Waste treatment liberalised activities

Synergy extraction of merged companies (EstEnergy)

Innovation and digitalization

enhance efficiency and tax benefits

Gas Distribution concession in Udine re-gained(12Y)

Water concession (18Y) in Rimini re-gained

Maggior Tutela Tenders: 3 out of 9 assigned to Hera (3Y)

MUI (Default and FUI of 2Y from Q4 '21) and Consip (2Y '22-'24) tenders promoting further growth going forward

Eco-bonus 110% tax incentive enhance appeal of Hera Energy Services

Aliplast is developing fast market share in 2021 promoting sustainable regenerated plastic

Waste treatment services are highly elastic to GDP

Acting fast at 360 degrees

GRUPPOHERA 02

9 months 2021 Ebitda drivers

GROWTH DRIVERS

(m€)

+77m€

+40.2	+29.6	+7.3	883

786806

9M'19	9M'20	Business	Organic	M&A	9M'21
		recovery	Growth

+77.1m€, +9.6% 9M'21 vs 9M'20

Strong growth rate underpinned by all activities

GRUPPOHERA 03

Business and

financial results