HERA S.P.A. A N N U A L R E S U L T S
2022
At a glance (1)
Turnover: +9.5 b€ | Ebitda: +76 m€ | Ebit: +21 m€ | Net profit post min.: +4.5 m€ | ||||||||
(m€) | (m€) | (m€) | (m€) | ||||||||
+90% | +6% | +3% | +1% | ||||||||
20,082 | 1,295 | ||||||||||
1,219 | 607 | 628 | 322 | ||||||||
303 | |||||||||||
551 | 318 | ||||||||||
1,123 | |||||||||||
10,555 | |||||||||||
7,079 | |||||||||||
2020 | 2021 | 2022 | 2020 | 2021* | 2022* | 2020 | 2021* | 2022* | 2020 | 2021* | 2022* |
-
Ebitda is adjusted for a temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices); this difference will progressively disappear in Q1 2023.
Adjustments on Ebitda is -4.4m€ in Y'21 and +94.1m€ in Y'22
- Ebit is adjusted for a temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices); this difference will progressively disappear in Q1 2023. Adjustments on Ebit is -4.4m€ in Y'21 and +94.1m€ in Y'22
Positive one-off "Special Items" of 12.6m€ were adjusted for
- Temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices) were adjusted for: -3.2m€ in Y'21 and +67.0m€ in Y'22.
Above expectations
2022 ANNUAL RESULTS | P&L | GRUPPOHERA | 01 |
CURRENT EXTRAORDINARY SCENARIO
Proven resilient to all macros
2022 ANNUAL RESULTS | SCENARIO | GRUPPOHERA | 02 |
At a glance (2)
Y'22 Capex: 689m€
+21%
689
529 570
2020 2021 2022
Y'22 M&A: 131.5m€
Y2022 | Q1 2023 | |
Other
minority stakes
Gas storage: 504m€ | Net debt / Ebitda | |||||||||||
(x) | ||||||||||||
878 | 3.62x | |||||||||||
2.87x | 3.28x | |||||||||||
2.66x | ||||||||||||
~2.9x | ||||||||||||
504 | Excluding | |||||||||||
378 | gas stock | |||||||||||
Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Y'20 | Y'21 | 3Q'22 | Y'22 |
Sound BS funded 1.3b€ capital allocation options
2022 ANNUAL RESULTS | SOLID LEVERAGE | GRUPPOHERA | 03 |
Ebitda growth drivers
Ebitda by driver: +76 m€
(m€)
+6.2%
+45 | +8 | 1,295 |
1,219 | +44 | |||||||
(22) | ||||||||
2021 | WACC | Circ. Eco. | Organic | M&A | 2022 |
review | Activities | Growth |
'22 vs '21 | Waste |
- Strong performance benefitting
market scenario
'22 vs '21Energy
↑ | Underpinned by energy |
efficiency and last resort mkt | |
'22 vs '21 | Networks |
- Quality premiums and capex
offset Wacc cut
'Y22 vs '3Q'22 Debt/Ebitda
↑ | 3.3x |
(2.9x excluding gas storage)
All our diversified growth drivers at work
2022 ANNUAL RESULTS | SOLID GROWTH DRIVERS | GRUPPOHERA | 04 |
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Disclaimer
HERA S.p.A. - Holding Energia Risorse Ambiente published this content on 21 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2023 15:30:06 UTC.
