Italy's Hera on track to reach targets after double-digit growth in H1 EBITDA

Hera SpA

26/07/2023 14:04

July 26 (Reuters) - Italian regional utility Hera
 HRA.MI  said on Wednesday it was on track to achieve the
targets of its plan to 2026 after posting a double-digit growth
in first-half core profit thanks to the contribution of all
businesses. 
    Adjusted earnings before interest, taxes, depreciation and
amortisation (EBITDA) grew 13.8% year-on-year to 718.3 million
euros ($795.30 million), boosted mainly by energy and waste
management areas, Hera said in a statement. 
    In contrast revenues fell 6.7% to 8.3 billion euros due to
the drop in energy commodity prices and lower volumes of gas
sold, as a result of the mild weather in the first half of the
year.
    "The results for this half-year see us moving rapidly
towards achieving the goals set out in our business plan",
Executive Chairman Cristian Fabbri.
    Bologna-based Hera ranks as Italy's biggest waste treatment
player and No. 2 operator in the water sector. 
    
($1 = 0.9032 euros)

 (Reporting by Romolo Tosiani, editing by Alvise Armellini and
Gianluca Semeraro)
 ((romolo.tosiani@tr.com;))