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The industrial plans

Since its IPO, the strategic objectives of Hera have always formed part of its industrial plans. The plans are established with a bottom-up logic and updated on an annual basis, both to examine previous Group expansion, and to update the objectives by developing macro reference scenarios.

The strategy pursued over the past five years was re-confirmed for the 2007-2010 plan, i.e. focusing on achieving the right cost - revenue balance, completion of new electricity generation plants from renewable and conventional sources, external growth strategies with the objective of increasing the size of the Group further, and strengthening its activities in the deregulated upstream market.

The economic and financial targets to 2010 provide for double figure growth even when just considering the internal growth only, represented by the balance of cost and revenue and the construction of new WTE plants and electricity generation. The expected growth will be supported by an investment plan of over Euro 1 billion, mainly financed with the cash flows generated by the business. The fact that the investments will be mainly self-financing will provide the basis for a solid financial structure up to 2010 which will support the policy to increase dividends by double digit percentages.