Hera S p A : Analyst presentation H1 2023 [733kb -

F I N A N C I A L R E S U LT S

H1 2023

At a glance (1)

Turnover: -0.5 b€		Ebitda: +87 m€		Ebit: +40 m€		Net profit post min.: +5 m€
(m€)			(m€)			(m€)			(m€)
	9,147	(6%)			+14%			+12%			+2%
	8,627
				718			375
									186	183	188
				631
			611
					337	335
4,346
H1 '21	H1 '22	H1 '23	H1 '21*	H1 '22*	H1 '23*	H1 '21*	H1 '22*	H1 '23*	H1 '21*	H1 '22*	H1 '23*

• Ebitda is adjusted for a temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices).
  Reported Ebitda is lower by 88.3 m€ in H1'22 and higher by 93.0m€ in H1'23

• Ebit is adjusted for a temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices.
  Reported Ebit is lower by 88.3 m€ in H1'22 and higher by 93.0m€ in H1'23

• Temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices) were adjusted for.
  Reported net profit is lower by 62.7m€ in H1'22 and +66.2m€ in H1'23.

Positive growth all the way down to bottom line

H1 2023 FINANCIAL RESULTS | P&L

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At a glance (2)

Capex and M&A: +74 m€	Dividends: +7 m€	Net debt / Ebitda
(m€)	(m€)	(x)

+22%

	403
329	73
41	330
289
H1 '22	H1 '23

+4%

179186

2.96x3.00x

H1 '22

H1 '23

H1 '22

H1 '23

Confirmed leverage at 3x with high capex, M&A and Dividends

H1 2023 FINANCIAL RESULTS | FINANCIAL SOUNDNESS

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Ebitda growth drivers

Ebitda by driver: +87 m€

(m€)

+13.8%

+28	+10		718
+49
631

Focused on sustainable activities

H1 '22*	Organic	Decarbonization	M&A	H1 '23*
	Growth	Services

M&A focus on sustainability

Waste

Industrial site remediation

Energy

PV Installation

Energy

Agrivoltaic plant in JV

TiepoloEnergy

PV plant in pipeline

Other (ongoing)

Optical fiber & TLC

Strong focus on sustainable growth

H1 2023 FINANCIAL RESULTS | SOLID GROWTH DRIVERS

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Energy

Ebitda growth drivers: +68 m€

(m€)
					+30%
				+93
			+28		293
		+40
218	225
H1 '21*	H1 '22*	Supply	Decarbonization	Gas stock adj.	H1 '23*
		& Trad.	Services

Customers
(mln)				+7%
3.3	3.5	+0.22	+0.02	3.7
1.3	1.4	(0.02)	+0.03	1.6	Elect.
2.0	2.1			2.1	Gas
H1 '21	H1 '22	Free Mkt	Last resort	H1 '23

10% of customers with Decarb. services

(%)

LED devices

10%

Smart tools

Fast growth in all our intangible assets

H1 2023 FINANCIAL RESULTS | BUSINESS DETAILS

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