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You are in: 2007 Group Performance » Economic and Financial Results

Economic and Financial Results

Consolidated summary results of the Hera Group

(millions of )

31 Dec 2006

Inc.%

31-Dec-2007

Inc.%

Change %

Revenues

2.311,5

2.863,3

+23,9%

EBITDA

426,7

18,5%

453,4

15,8%

+6,3%

EBIT

231,3

10,0%

220,6

7,7%

-4,6%

Net profit

100,2

4,3%

109,9

3,8%

+9,6%

2007 was distinguished by an exceptionally mild climate that further reduced gas and district heating distribution and sales, already sharply down as of the final quarter of 2006.

Even though the weather factor had a strong impact on the financial results of the Group, the multi-business structure and the growth policies adopted meant that these effects were offset and net profit was up on the previous year.

As regards the territorial development and business, 2007 was marked by the consolidation of the operations put in place the previous year, and more specifically:

  • at the end of June 2006 Hera Rete Modena srl was acquired from Enel Spa for the purpose of the distribution and sale of electricity in 18 municipalities in the province of Modena. In the second half of 2006 the business was integrated into the local company of Modena.
  • at the end of 2006 the companies operating in the Pesaro area which are part of Aspes Multiservizi entered the scope of consolidation of the Group

Two further operations were initiated in 2007 and will become operative from 1 January 2008:

  • the incorporation of SAT Sassuolo, a multiservice company operating in the Sassuolo, Fiorano Modenese, Formigine, Serra Mazzoni and Maranello municipal areas
  • the integration of Megas Spa into Aspes Multiservizi in order to merge the two multi-business companies that operate in the province of Pesaro-Urbino. In addition, the company changed its name to Marche Multiservizi Spa starting from 1 January 2008, the date the operation came into effect