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HERA BUSINESS PLAN TO 2016
Business plan includes perspectives of AcegasAps aggregation
After 10 year of uninterrupted growth… Revenues(billion Euro)
EBITDA(million Euro)
Net profit for shareholders(million Euro)
Dividends per share(Euro cents)
Among the 30 largest market cap in Italy
National leader or co-leader in all core activities
Soundest financial ratios of the multi-utility sector
…and looking at current scenarios…
Issues Opportunities
? ? ?
Macro economic scenario/earth quake
GAS tariffs regulatory change
Regulatory changes in Urban waste collection services
Gas tenders Changes on return on investments in water and waste regulated servicesservices
M&A
…with a straight forward strategy and a capex plan of 1.9 billion Euro 2012-2016…
Value extraction from activities
Redefinition of Up-stream position
Technological development of networks
Strengthening and optimisation of asset base
Focus on final customersBusiness portfolio
consolidation
Further development of renewables Pursue M&A growth
opportunities
from 3,3 bcm Gas sold
from 254 million m3 water distributed
from 10,0 TWh Electricity sold
from 1,8 million ton Urban water collectedfrom 3,4 milion ton waste treated
from 499 GWhtt Heat sold
… to 663 GWht Heat sold
... to 4,5 bcm Gas sold
... to 10,6 TWh Electricity sold
... to 327 million m3 water distributed
... to 2,4 million ton Urban waste collected
... to 4,8 million ton waste treated
Year 2011
Hera aims at growing further …
GAS
ELECTRICITY
WATER
WASTE
DISTRIC HEATING
+ 30%
+ 6%
+ 29%
+ 33%+ 41%
+ 33%
Breakdown of contracts …
AVG Contracts per year(million)
Electricity11.6%Waste
26.2%
Water31.8%
Hera excluding AcegasAps
Gas29.3%
Other1.2%
3.7
… expected evolution in 2016
…also in term of number of clients…
AVG Contracts per year(million)
4.3
Electricity18.1%
Waste23.6%
Water28.9%
Gas28.3%
Other1.1%
Business plan estimates growth in all main economics… Revenues(billion Euro)
EBITDA(million Euro)
Net Profit(million Euro)
Revenues grow by +40% in 5 years
EBITDA reaches almost 1 billion Euro (+9% CAGR)
Net profit enhancement
Track records
Targeting nancial strength in line with “A” rating from S&P’s and Moody’s
Next 5 years
…and to strengthen nancial soundness
Debt/EBITDA
Track records
Good Visibility thanks to a dividend policy aiming at guaranteeing a oor at 9 Euro cent DPS (up to 2016)
Next 5 years
…and soddisfy shareholders
Dividend per share(Euro cents)