Italy's Hera raises investment and dividends in business plan to end of 2028 (updated)

Hera SpA

23/01/2025 09:01

(Adds investment detail, profit outlook and 2024 preliminary
results)
       Jan 23 (Reuters) - Italian regional utility Hera
 HRA.MI  aims to invest 5.1 billion euros ($5.30 billion) over
the coming four years to develop resilient industrial assets in
the face of market volatility and extreme weather events, it
said on Thursday.
    Roughly 3 billion euros of the planned investments in its
business plan to the end of 2028 will be dedicated to green
transition while 300 million euros will be set aside for mergers
and acquisitions.   
    The group, which sells gas, electricity and water to the
Italian market, also said it expects annual core profit to reach
1.7 billion euros by the end of the period, up roughly 14% from
2023.    
    Hera's statement also flagged preliminary results for last
year, estimating earnings before interest, depreciation and
amortisation (EBITDA) above 1.55 billion euros. 
    The company said it aims to increase dividends by 21% to 17
cents per share over the course of the plan, having forecast a
payout of 15 cents on 2024 results.
($1 = 0.9619 euros)

 (Reporting by Enrico Sciacovelli and Michela Stasio
Editing Jason Neely and David Goodman)
 ((Enrico.Sciacovelli@thomsonreuters.com; +48587720309;))