press releaseBologna, 14 May 2009HERA S.p.A.: BoD approves the results for the first three months of 2009All values are ri...
Gas Area EBITDA increased by 19.6%: this result was also achieved because of increasedvolumes distributed and traded and t...
Profit and Loss (m€) 31/03/2008 % 31/03/2009 % Ch. (m€) Ch.% Sales ...
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Press release q1 2009

Published on: Mar 4, 2016
Published in: Investor Relations      Business      Technology      
Source: www.slideshare.net


Transcripts - Press release q1 2009

  • 1. press releaseBologna, 14 May 2009HERA S.p.A.: BoD approves the results for the first three months of 2009All values are rising: organic growth underpinns results enhancementRevenues at Euro 1,287.0 million (+28.5%)EBITDA at Euro 166.6 million (+8.0%)EBIT at Euro 111.3 million (+9.4%)Pre-tax Profit at Euro 83.7 million (+6.6%)Net Profit at Euro 48.8 million (+6.7%)The Board of Directors of the Hera Group today unanimously approved the consolidatedeconomic results of the first quarter of the year drawn up based on IAS criteria. The resultsconfirm all the indicators on the rise and good performance of the business areas,despite economic slowdown effects.Group Revenues as at 31 March 2009 rose from Euro 1,001.3 million to Euro 1,287 million,with a 28.5% increase over the same period of 2008. They were achieved mainly due toexpanded sales in the Electricity Area.EDITDA went up 8.0%, thanks to the results achieved in commercial activities and to thedefensiveness of regulated activities, moves from Euro 154.3 million to Euro 166.6 million.EBIT increased by 9.4% compared to the first three months of last year, standing at Euro111.3 million, while Pre-tax profit rose from Euro 78.5 million to Euro 83.7 million, posting a6.6% increase.Net profit went up to Euro 48.8 million, an increase of 6.7%, however paying off Euro 4.8million as final payment of the fiscal moratorium.The Group’s tangible and intangible investments during the first three months of 2009amount to Euro 86 million, primarily sustained for plant development.The net financial position rose from the Euro 1,571.5 million registered as at 31 December2008 to Euro 1,636.3 million registered as at 31 March 2009, reflecting the effects ofincrease in turnover and seasonality on working capital as well as the capital expendituresexecuted.As for the major business areas, the Electricity Area records a further increase of itsweight on Group margins, posting EBITDA 16.2% higher, at Euro 13.3 million. This is due tothe greater volumes sold (+33%), attributable to the success of sales expansion onretail customers and of trading activities.
  • 2. Gas Area EBITDA increased by 19.6%: this result was also achieved because of increasedvolumes distributed and traded and the effects of AEEG resolution 158/8, which hasreformed the tariff system of distribution activities.Results improved over the same period of last year as well in the Integrated Water Cyclearea (EBITDA increased by 4.8% at Euro 30.8 million), despite the economic slowdown hasnegatively impacted on activities related to new connections.As far as the Waste Management Area is concerned, EBITDA fell off (-5.4% at Euro 42million) due to the general recession and consequent drop of waste generated, especiallyfrom the manufacturing sector. This area has for some time been the Groups mostsignificant integrated sector nationwide.The sales expansion strategy, commenced in March, has already proven its ability to limit therecessive trend in the last part of the quarter.“The Group continued to follow a growth trend during these three months of 2009,demonstrating its ability to keep a grip on it with respect to the impact of an economicsituation still hard to comprehend," commented Chairman Tomaso Tommasi di Vignano."The good results of our sales activities and efficiency improvement policies contributed to itsachievement, and they will also be continued over the next few months."“These results, which continue to improve, confirm that a portfolio balanced betweenregulated and liberalised business is the best guarantee for achieving a constant andextended growth pattern," added Managing Director Maurizio Chiarini.Pursuant to article 154-bis, section 2, of the Finance Consolidation Act, the manager responsible fordrafting the corporate documents, Giovanni Barberis, declares that the information contained in thepresent press release corresponds to the documentary results, books and accounting entries.The quarterly report on operations and its documents are available to the public at Borsa ItalianaS.p.A. and on the website www.gruppohera.it as of 15 May 2009.The accounting statements taken from the Interim Report on Operations as at 31 March 2009, notsubject to audit, are attached.
  • 3. Profit and Loss (m€) 31/03/2008 % 31/03/2009 % Ch. (m€) Ch.% Sales 1,001.3 1,287.0 +285.7 +28.5% Change in Stock 2.1 0.2% 0.9 0.1% (1.2) (57.1%) Other operating revenues 13.0 1.3% 14.4 1.1% +1.4 +10.8% Raw material (636.2) (63.5%) (909.9) (70.7%) +273.7 +43.0% Services costs (180.7) (18.0%) (177.4) (13.8%) (3.3) (1.8%) Other operating expenses (18.9) (1.9%) (7.8) (0.6%) (11.1) (58.7%) Personnel costs (85.5) (8.5%) (87.3) (6.8%) +1.8 +2.1% Capitalisations 59.3 5.9% 46.6 3.6% (12.7) (21.4%) EBITDA 154.3 15.4% 166.6 12.9% +12.3 +8.0% Depreciation and provisions (52.6) (5.3%) (55.3) (4.3%) +2.7 +5.1% EBIT 101.7 10.2% 111.3 8.6% +9.6 +9.4% Financial inc./(exp.) (23.2) (2.3%) (24.8) (1.9%) +1.6 +6.9% Other non operating costs - 0.0% (2.7) (0.2%) +2.7 +0.0% Pre tax Profit 78.5 7.8% 83.7 6.5% +5.2 +6.6% Tax (32.7) (3.3%) (34.9) (2.7%) +2.2 +6.7% Net Profit 45.7 4.6% 48.8 3.8% +3.1 +6.7% - of which minorities 3.8 0.4% 3.7 0.3% (0.1) (2.4%) Net Financial Position (m€) 31/12/2008 % 31/03/2009 % Cash on hand 193.6 190.8 Other current loans 6.8 6.8 Current financial indebtedness (208.7) (279.9) Current net financial indebtedness (8.3) 0.5% (82.3) 5.0% Non current loans 8.5 8.6 Non current financial indebtedness (1,571.7) (1,562.6) Non current net financial indebtedness (1,563.2) 99.5% (1,554.0) 95.0% Net financial indebtedness (1,571.5) 100.0% (1,636.3) 100.0% Hera S.p.A.Investor Relations ManagerJens Klint Hansentel. +39 051 28 77 37e-mail: jens.hansen@gruppohera.it

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