Hera (HER) Q1 2025 earnings summary

Executive summary

• Q1 2025 saw revenues rise by 28.3% to €4.36bn, with EBITDA up 0.2% to €418m and net profit up 7.4% to €154m, supported by strong cash generation and all business segments contributing to growth.

• Growth is increasingly driven by recurring, high-quality earnings and efficiency gains, with structural improvements across all segments.

• Return on equity increased to 11.0% and ROI to 10.3%, reflecting disciplined capital allocation.

Financial highlights

• EBITDA reached €418.0m (+0.2%), EBIT €247.2m (+0.5%), and net profit post-minorities €153.7m (+7.4%), with revenues up 28.3% to €4,358.7m.

• Earnings per share increased to €0.106 from €0.099; dividend of €0.15 per share to be paid in June, yielding about 4%.

• Cash generation reached €352m, with free cash flow of €117m and operating cash flow fully covering investments.

• EBITDA margin declined to 9.6% from 12.3% due to higher revenues.

Outlook and guidance

• Structural EBITDA and net profit growth of 7% are on track with business plan targets.

• Management focuses on resilience, sustainability, and innovation amid a complex macroeconomic scenario.

• Improved financial flexibility positions the Group for further organic and M&A growth.