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Hera (HER) investor relations material
Hera Investor Update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.2025 Financial Outlook and Guidance
2025 EBITDA is forecasted above €1.53 billion and net profit above €460 million, up 4% year-on-year, with net debt/EBITDA below 2.6x.
Dividend per share is expected to rise from €0.17 to €0.19 by the end of the plan, with a 7% increase in 2025 and a 27% increase by 2029.
Total shareholder return is targeted to remain in double digits, supported by structural EPS growth of 6% and an average dividend yield above 4%.
Net debt/EBITDA is expected to remain below 2.6x through 2029, supporting financial flexibility.
Financial flexibility is maintained, supporting increased capex and future growth opportunities.
Strategic Priorities and Business Model
Multi-business model leverages synergies, innovation transfer, economies of scale, and cash flow reallocation across sectors.
Focus on value creation, profitability, and risk mitigation through hedging, diversification, and balanced portfolio management.
Sustainability, decarbonization, and circular economy are core, with over €2 billion allocated to these initiatives and a net zero target by 2050.
ESG compliance is already achieved, with ongoing investments in climate change adaptation and innovation.
77% of the five-year investment plan is dedicated to shared value operating investments.
Capital Allocation and Investment Plan
€5.5 billion investment plan for 2025–2029, 39–40% higher than previous, with significant investments in networks, waste, and energy.
48% of investments target infrastructure resilience, 35% resource regeneration, 24% carbon neutrality, and 26% digitalisation and innovation.
2.9 billion euros in investments are aligned with the EU Taxonomy for sustainable projects, representing 95% of eligible investments.
Free cash flow of €3.5bn over the plan, with €1.4bn for dividends and €2.5bn for development CapEx and M&A.
Nearly €500 million in funding comes from national and European recovery and resilience programs.
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