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Hera, a radiography

Updated on June 26, 2015

Numbers of cities - towns as clients for environmental services (yellow) and waste plants (blue)


Some local companies operate in green energy field, delivering local services as garbage assemblage and stockage; than managing dumpsites and smaller energy sites. In those cases very often property and boards are public. Hera, an Italian company, manages a district heating in the city of Ferrara, powered by geothermal energy. Through this network, comparable in scale to Helsinki, Hera is the provider of 25.000 houses cheap heating. It is the first company in its country taking care of garbage, 5.107 thousands of tons per year, and serving several cities with gas and water-related-services, all of them are in the center and north-east area.

Sold gas (millions M3 - yellow) ; Cities and towns served (fresh water + sewer + water treatment)


It started in 2001 as a fusion between 11 public companies; as many fusions, the enterprise gained productivity and delated the cost of advising. When producing, economies of scale are more frequent- reachable. When getting advised, the knowledge gained is the same for a bigger system and actually its (relative) cost is reduced. Moreover, when dealing with politicians, know how is increased. National presence is now strong as Hera is the fourth national energy provider. With 8500 employees and 3,5 millions of citizens as clients.

Hera revenues and EBITDA, time series


Fusion even allowed them to be quoted in the Italian Stock Market in 2003. According to the ISM website, 44% of the company is owned by privates. In the boards, relevant personalities as the Illy vice president and former CEO Riccardo Illy and the advisor Giovanni Basile. Net worth saw a big growth in 2013 from 1,9 to 2,3 billions partly due to new shares emissions. The value of the firm in the stock exchange has been growing since January 2013 suffering less than Italian benchmark FTSE MIB (of which it is not part) in the second half of 2014.

FTSE MIB compared with Hera value


Nine biggest shareholders do own more than 2%, seven are city councils and two are banks (or linked organisation): american Lazard and Carimonte Holding Spa from Modena.


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