(Finance) – Heraa multiservice company listed on Euronext Milan, expects to have closed on 2023 with a gross operating margin (GOM) over 1,480 million euros, 185 million more (+14%) compared to the 1,295 million euros of 2022. This result reaches three years in advance the target that had been set by the previous industrial plan for 2026 (1,470 million euro), confirming the strategy undertaken and the timing in having seized some market opportunities that presented themselves in 2023. A reduction in the net debt/EBITDA ratioforecast below 2.6x, a marked improvement compared to 3.3x in 2022.
The Board of Directors has the Industrial Plan to 2027 was approvedwith the various projects that will allow us to reach an EBITDA of 1,650 million euros in 2027, an improvement of 355 million euros compared to the 2022 final figures. Also considering a series of business opportunities that will disappear over the course of the plan and which have contributed to the 2022 result for approximately 120 million euros, growth reaches 475 million euros, for an average annual rate of 7%.
In particular, it organic development it is the main growth engine with 375 million euros, and is fueled by the investment plan, by the expansion on liberalized markets, by the ability to control inflationary growth, through efficiencies and innovation, and by the tariff adjustments recently set by the Authority on all regulated activities. An important contribution is also expected from M&A operations for 100 million euros, in line with the group’s track record.
In light of the positive preliminary results expected for 2023, the entire dividend policyassuming the distribution of a coupon of 14 euro cents per share as early as June 2024, up 12% compared to the last payment and higher than the forecast developed in the previous industrial plan (12.5 cents).
In particular, a constant annual increase in dividends is expected until reaching one coupon of 16 cents euros to 2027 (+28% compared to the last dividend paid), with net profit per share also expected to grow by an average of 7% per year. At the current prices of Hera shares, the new policy guarantees a average return of 5%.
The investment plan is equal to 4.4 billion euros, of which 48% reserved for development and M&A initiatives. 55% of the investments will be allocated to regulated businesses while the remaining 45% will be reserved to fuel the growth of market businesses.
“At a business level – comments theAD Orazio Iacono – in the next five years the important contribution to the growth of the group results of all the activities and in particular of the environment supply chainthanks to a strategy that leverages a portfolio of global waste services that will further strengthen our leadership in the market, and of networks supply chainwhich will see an important investment plan to accompany the territories towards the green transition”.