Hera S p A : Analyst Presentation 3Q 2022 [5603kb -

9M 2022

FINANCIAL RESULTS

CURRENT EXTRAORDINARY SCENARIO

Tensions on energy commodity	Extraordinary inflation
Last 9 months 2022 vs 2021 and 2020	Last 19 months

		ENERGY PRICES (€/Mwh)			ITALIAN INFLATION RATE (%)
Gas prices on TTF (€/Mwh)
350
300																				8.9%
250
																		8.4%
200																		8.0%7.9%
150
							130*
100																6.8%
														6.7%
50
															6.0%
0														5.7%
												5.3%
Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep
								2022				3.9%4.2%
Electricity avg price PUN prices (€/Mwh)				2021
			2020				3.2%
750
										2.4%2.7%
600
									1.6%
450									1.0%1.2%
							273*	1.0%
300								0.6%
150
0									Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	'21 '21 '21	'21 '21	'21 '21	'21 '21 '21	'22	'22	'22	'22	'22	'22 '22	'22	'22
* 9M average

Extraordinary energy prices, inflations rates and uncertainty

9M 2022 results | SCENARIO

GRUPPOHERA

01

9M '22 RESULTS AT A GLANCE (1)

	+123%	+2%	Confirmed
	9M '22 VS. 9M '21	9M '22 VS. 9M '21	9M '22 VS. 9M '21
Turnover (m€)	Ebitda (m€)		Net Profit post minorities (m€)

14,320

854875

806

233	231
214

6,424

4,906

9M '20

9M '21

9M '22

9M '20

9M '21*

9M '22*

*Ebitda is adjusted for a temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices); this difference will progressively disappear as the Stock is emptied. Adjustments on Ebitda is -28.9m€ in 9M'21 and +152.1m€ in 9M'22

9M '20

9M '21*

9M '22*

Positive one-off "Special Items" of 56.2m€ were adjusted for

*Temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices) were adjusted for: -21.3m€ in 9M'21 and +108.7m€ in 9M'22.

Resilient growth in Ebitda fuels prudent provisioning

9M 2022 results | SOLID GROWTH

GRUPPOHERA

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9M '22 RESULTS AT A GLANCE (2): 1.4b€ Capex & Investments

Capex: +15%

Plan Execution

Capex (m€)

446

387

331

9M '20

9M '21

9M '22

~1.0b€ Investments

Scenario opportunities

878 million € GAS storage

• 700 million m3
• Fully Hedged
• +40% vs '21

64 million € M&A

Leverage: 3.6x

2.9x excluding gas stock

Net Debt / Ebitda (x)

3.62x

2.97x

2.82x

2.9x

Excluding gas stock

9M '20

9M '21

9M '22

866 million € in Gas storage. S/t investment with a pay-back of 0.5 years

Sound BS funds investment opportunities and capex plan

9M 2022 results | SOUND BALANCE SHEET & RETURNS

GRUPPOHERA

03

EBITDA GROWTH ON TRACK

		+20.4 m€			All drivers at work
		EBITDA GROWTH BY +2.4%			FULLY OFFSETTING WACC REVIEW
Ebitda by driver (m€)
			+20.4
854.4	+25.2	+5.7	+6.0	874.8
(16.5)

9M '21	WACC	Circ. Eco.	Organic	M&A	9M '22
	review	Activities	Growth

All our diversified growth drivers at work

9M 2022 results | EBITDA GROWTH ON TRACK

GRUPPOHERA

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