Hera S.p.A. (HER) Earnings Call Transcripts

Hera S.p.A.'s Latest Earnings Call - Q1 FY2026

In Q1 2026, Hera S.p.A. reported a net profit of EUR 155 million, reflecting a 1% year-over-year growth, despite facing challenges from reduced margins in gas markets and the absence of prior year one-off items. Revenue figures were not explicitly stated, but management indicated structural growth of approximately 9% on average from 2024 to 2026. The company maintained its net debt-to-EBITDA ratio at 2.6x, signaling financial stability and flexibility for future investments. Management reaffirmed their commitment to achieving business plan goals and indicated that cash flows covered 50% of acquisition-related expenses in the quarter.

Reported metrics

Guidance from management

Management expressed confidence in achieving their business plan goals, indicating they are ahead of schedule and expect continued growth from structural initiatives and M&A activities throughout the year.

What management said

Maybe it's 10% of our sales. Can't make an earning compared to waste energy power because the market will have the same price. So when I renegotiate with the customer, we would renegotiate based on the market forward in that moment.

Great. Thank you very much for making yourselves available. And we'll be seeing you for the next quarter report, and we'll get back to work so we can share some great news with you next time. Thank you.

What analysts pressed on

Analysts raised concerns about the competitive landscape in the energy supply market and its potential impact on profitability. There were also inquiries regarding the normalization of provisions and the outlook for future acquisitions in a rapidly changing market.

Main topics on the call

• Structural Growth — Hera has achieved an average structural growth of roughly 9% from 2024 to 2026, which management emphasized as a key driver of their financial performance. 'This growth element has allowed us to never go back over the ye...
• Impact of Temporary Opportunities — The company faced a EUR 33 million reduction in contributions from temporary opportunities compared to the previous year, which impacted margins. However, management noted that 'we were able to offset those with good str...
• M&A Activity — Hera completed two acquisitions in Q1 2026, totaling EUR 340 million, which management views as a step towards external growth. They expressed confidence in extracting synergies from these acquisitions, stating, 'We want...
• Waste Business Performance — The waste segment continued to show resilience with positive EBITDA performance, despite facing temporary operational challenges. CEO Orazio Iacono highlighted that 'the waste business has never stopped growing.'

Read the full Hera S.p.A. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 29 Hera S.p.A. earnings call transcripts on record, spanning January 10, 2020 to May 13, 2026. Based on this history, Hera S.p.A. reports quarterly. The most recent call on file is dated May 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

HER

Exchange

BIT

Country

IT

Sector

Utilities

Industry

Multi-Utilities

Calls on record

29

First call

January 10, 2020

Most recent

May 13, 2026

Reporting cadence

quarterly