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Hera S.p.A. (HRASF) Q1 2026 Earnings Call Transcript
2026-05-16 · via All Articles on Seeking Alpha

Hera S.p.A. (HRASF) Q1 2026 Earnings Call May 13, 2026 9:30 AM EDT

Company Participants

Cristian Fabbri - Executive Chairman
Orazio Iacono - CEO, Renewable Energies ad interim & Director
Massimo Vai - Group Manager of Administration, Finance & Control

Conference Call Participants

Javier Suarez Hernandez - Mediobanca - Banca di credito finanziario S.p.A., Research Division
Emanuele Oggioni - Kepler Cheuvreux, Research Division
Francesco Sala - Banca Akros S.p.A., Research Division
Davide Candela - Intesa Sanpaolo Equity Research
Roberto Letizia - Equita SIM S.p.A., Research Division

Presentation

Operator

Good afternoon, and thank you for joining us. Welcome to the Hera Group's financial results for Q1 2026. And the floor now goes to our Executive Chairman, Mr. Cristian Fabbri.

Cristian Fabbri
Executive Chairman

Good afternoon. This morning, we approved the figures for the quarter, and we are here to share our results with you. As usual, to see are the highlights from the management perspective, which can also be useful to you to understand the company's performance over the quarter and to see what the main drivers are.

We can begin with a look at our structural growth. As you know, over the past 3 years, we have been working to continue to allow for the company to grow organically and structurally, which we've done significantly. You can see the results here besides our temporary opportunities, of course. And you can note that beginning in 2024 and all the way up to 2026, we had a structural growth worth roughly 9% on average.

Now this growth element has allowed us to never go back over the years, which is what we'll be seeing in a while regarding our profit to be in line with what we had defined in our business plan. If we move to the following page, you'll see that we didn't reclassify the net profit. These