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Hera (HER) investor relations material
Hera Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
- Net profit increased by 5% year-over-year to €229.3 million in 1H 2025, reflecting strong operational and financial performance and value creation. 
- Revenues rose 18.7% year-over-year to €6,864.4 million, driven by higher energy commodity prices and increased trading value. 
- EBITDA reached €721.7 million, down 1.5% year-over-year, with margin at 10.5% and €56 million from temporary opportunities. 
- Net financial debt reduced to €3,927 million, improving leverage to 2.5x Net Debt/EBITDA. 
- Moody’s upgraded the outlook from stable to positive, reflecting improved financial flexibility. 
Financial highlights
- Operational cash flow was €675 million, up €139 million year-over-year. 
- CapEx totaled €414 million, up 20.2%, reflecting accelerated investment in water and waste sectors. 
- EBIT was stable at €383.2 million, with lower provisions offsetting higher depreciation from increased capex. 
- Financial costs declined to €39.2 million from €61.9 million year-over-year. 
- Basic and diluted EPS increased to €0.157 from €0.152 in 1H 2024. 
Outlook and guidance
- Management confirmed alignment with business plan targets, expecting continued net profit and structural EBITDA growth. 
- H2 expected to see continued organic growth, further reduction in provisions, and inclusion of €13 million in water business premiums. 
- Positive cash generation and financial flexibility position the group for further organic and M&A growth. 
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