HERA S.P.A. F I N A N C I A L R E S U LT S
Q1 2023
At a glance (1)
Turnover: +0.3 b€ | Ebitda: +35 m€ | Ebit: +15 m€ | Net profit post min.: +1 m€ | ||||||||
(m€) | (m€) | (m€) | (m€) | ||||||||
+6% | +9% | +7% | +1% | ||||||||
5,750 | 410 | 236 | 132 | 127 | 128 | ||||||
5,412 | |||||||||||
362 | 375 | 223 | 221 | ||||||||
2,373 | |||||||||||
Q1 '21 | Q1 '22 | Q1 '23 | Q1 '21 | Q1 '22* | Q1 '23* | Q1 '21 | Q1 '22* | Q1 '23* | Q1 '21 | Q1 '22* | Q1 '23* |
-
Ebitda is adjusted for a temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices).
Adjustments on Ebitda is +1.1m€ in Q1'22 and -93.0m€ in Q1'23
- Ebit is adjusted for a temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices.
Adjustments on Ebit is +1.1m€ in Q1'22 and -93.0m€ in Q1'23
- Temporary accounting difference in gas stock valuation (avg historical cost vs. avg procurement prices) were adjusted for:
+0.8m€ in Q1'22 and -66.2m€ in Q1'23.
Positive results down to bottom line
Q1 2023 FINANCIAL RESULTS | P&L | GRUPPOHERA | 01 |
At a glance (2)
Capex and M&A | Change in '22 gas stored | Net debt / Ebitda |
(m€) | (m€) | (x) | ||||||
+52% | ||||||||
205 | 878 | 3.62x | ||||||
3.28x | ||||||||
2.84x | ||||||||
135 | ||||||||
113 | 504 | |||||||
Q1 '21 | Q1 '22 | Q1 '23 | Q3 '22 | Q4 '22 | Q1 '23 | Q3 '22 | Q4 '22 | Q1 '23 |
Leverage back to 2.84x following the sales of gas stored in 2022
Q1 2023 FINANCIAL RESULTS | FINANCIAL SOUNDNESS | GRUPPOHERA | 02 |
Ebitda growth drivers
Ebitda by driver: +35 m€
(m€)
+9.4%
375 | +14 | +15 | +6 | 410 | ||||||
Q1 '22 | Circular | Organic | M&A | Q1 '23 |
Economy | Growth |
1Q'23 vs '1Q22 | Energy |
- Margin confirmed and expansion
also in last resort mkt
1Q'23 vs '1Q22 | Waste |
- Continues to perform well benefitting from leadership
1Q'23 vs '1Q22 | Networks | |
→ | ||
Higher costs, lower white | ||
certificates and new connections | ||
All our diversified growth drivers at work
Q1 2023 FINANCIAL RESULTS | SOLID GROWTH DRIVERS | GRUPPOHERA | 03 |
Energy
Ebitda growth drivers: +31 m€
(m€) | ||||||
+20% | ||||||
+93 | ||||||
+13 | +2 | 184 | ||||
+16 | ||||||
154 | ||||||
151 | ||||||
Q1 '21 | Q1 '22 | Supply | Energy | VAS | Gas stock adj. | Q1 '23 |
& Trad. | efficiency |
Electricity volumes | +19% |
(TWh) | (vs -5% avg Italy) |
+0.4 | +0.2 | 3.4 | |
2.9 | |||
Q1 '22 | Free Mkt | Safeguarded | Q1 '23 |
Gas volumes
(Mcm) | -17% |
(vs -19% avg Italy) | |
1.8 | 1.5 | ||
+0.1 | |||
(0.4) | |||
Q1 '22 | Free Mkt | Default / Fui | Q1 '23 |
Solid margins and market expansion underpin growing results
Q1 2023 FINANCIAL RESULTS | BUSINESS DETAILS | GRUPPOHERA | 04 |
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Disclaimer
HERA S.p.A. - Holding Energia Risorse Ambiente published this content on 10 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2023 14:10:10 UTC.
