Hera S.p.A (Holding Energia Risorse Ambiente, ''Energy Resource Environment Holdings'') is a multiutility company based in

Bologna Bologna ( , , ; ; ) is the capital and largest city of the Emilia-Romagna region in northern Italy. It is the List of cities in Italy, seventh most populous city in Italy, with about 400,000 inhabitants and 150 different nationalities. Its M ...

Italy Italy, officially the Italian Republic, is a country in Southern Europe, Southern and Western Europe, Western Europe. It consists of Italian Peninsula, a peninsula that extends into the Mediterranean Sea, with the Alps on its northern land b ...

. Hera operates in the distribution of gas, water, energy, and waste disposal in the provinces of

Ferrara Ferrara (; ; ) is a city and ''comune'' (municipality) in Emilia-Romagna, Northern Italy, capital of the province of Ferrara. it had 132,009 inhabitants. It is situated northeast of Bologna, on the Po di Volano, a branch channel of the main ...

, Forlì-Cesena,

Modena Modena (, ; ; ; ; ) is a city and ''comune'' (municipality) on the south side of the Po Valley, in the Province of Modena, in the Emilia-Romagna region of northern Italy. It has 184,739 inhabitants as of 2025. A town, and seat of an archbis ...

Pesaro Pesaro (; ) is a (municipality) in the Italy, Italian region of Marche, capital of the province of Pesaro and Urbino, on the Adriatic Sea. According to the 2011 census, its population was 95,011, making it the second most populous city in the ...

Pordenone Pordenone (; Venetian language, Venetian and ) is a city and (municipality) in the Italy, Italian region of Friuli-Venezia Giulia, the capital of the Province of Pordenone, Regional decentralization entity of Pordenone. The name comes from Lati ...

Ravenna Ravenna ( ; , also ; ) is the capital city of the Province of Ravenna, in the Emilia-Romagna region of Northern Italy. It was the capital city of the Western Roman Empire during the 5th century until its Fall of Rome, collapse in 476, after which ...

Rimini Rimini ( , ; or ; ) is a city in the Emilia-Romagna region of Northern Italy. Sprawling along the Adriatic Sea, Rimini is situated at a strategically-important north-south passage along the coast at the southern tip of the Po Valley. It is ...

Trieste Trieste ( , ; ) is a city and seaport in northeastern Italy. It is the capital and largest city of the Regions of Italy#Autonomous regions with special statute, autonomous region of Friuli-Venezia Giulia, as well as of the Province of Trieste, ...

Udine Udine ( ; ; ; ; ) is a city and (municipality) in northeastern Italy, in the middle of the Friuli-Venezia Giulia region, between the Adriatic Sea and the Carnic Alps. It is the capital of the Province of Udine, Regional decentralization entity ...

and

Urbino Urbino ( , ; Romagnol: ''Urbìn'') is a ''comune'' (municipality) in the Italy, Italian region of Marche, southwest of Pesaro, a World Heritage Site notable for a remarkable historical legacy of independent Renaissance culture, especially und ...

, and in some municipalities of

Ancona Ancona (, also ; ) is a city and a seaport in the Marche region of central Italy, with a population of around 101,997 . Ancona is the capital of the province of Ancona, homonymous province and of the region. The city is located northeast of Ro ...

Gorizia Gorizia (; ; , ; ; ) is a town and (municipality) in northeastern Italy, in the autonomous region of Friuli-Venezia Giulia. It is located at the foot of the Julian Alps, bordering Slovenia. It is the capital of the Province of Gorizia, Region ...

and

Venice Venice ( ; ; , formerly ) is a city in northeastern Italy and the capital of the Veneto Regions of Italy, region. It is built on a group of 118 islands that are separated by expanses of open water and by canals; portions of the city are li ...

. In October 2012, Hera approved the merger with AcegasAps Group, which operates in the cities of

Padua Padua ( ) is a city and ''comune'' (municipality) in Veneto, northern Italy, and the capital of the province of Padua. The city lies on the banks of the river Bacchiglione, west of Venice and southeast of Vicenza, and has a population of 20 ...

and

. On 1 July 2014 AMGA, which operates in

merged with Hera Group. In 2024, Hera was the number one Italian domestic operator in terms of the amount of waste treated (7.7 million tons), in second place for the volumes of water supplied (283.4 million m³), the third energy sales operator by number of customers served (3.8 million) and fourth in the Italian gas distribution in terms of volumes distributed (2.2 billion m³).

Corporate history

Hera was established in 2002 through the first merger of public utilities in the

Emilia-Romagna Emilia-Romagna (, , both , ; or ; ) is an Regions of Italy, administrative region of northern Italy, comprising the historical regions of Emilia (region), Emilia and Romagna. Its capital is Bologna. It has an area of , and a population of 4.4 m ...

region, which involved 11 companies. In 2003, Hera started the process of listing on the

Milan Stock Exchange Borsa Italiana () or Borsa di Milano (), based in Milan at Mezzanotte Palace, is the Italian stock exchange. It manages and organises domestic market, regulating procedures for admission and listing of companies and intermediaries and supervi ...

, which led the company to be partly privatized with 38.8% of its present share capital in private sectors. After 2003, Hera started to grow. In over five years, the Group merged with other Italian companies operating in distribution of energy, water and gas, such as Agea, Ecosea, Meta, Geat Distribution Gas, and Sat Inc. Hera also had many long-term contracts with foreign suppliers over the years that followed. In 2006, Hera signed a memorandum of understanding with

Enel Enel S.p.A. is an Italian multinational manufacturer and distributor of electricity and gas. Enel was first established as a public body at the end of 1962, and then transformed into a limited company in 1992. In 1999, following the liberali ...

, Edison and

Sonatrach Sonatrach (; ) is the national state-owned oil company of Algeria. Founded in 1963, it is known today to be the largest company in Africa with 154 subsidiaries, and often referred as the first African oil "major". In 2021, Sonatrach was the seven ...

. The memorandum provided for the purchase of one billion cubic meters a year of natural gas transported through the methane pipeline belonging to Galsi, a partner company of Hera. In July 2008, Hera acquired ''Megas Trade'', selling gas and electricity in the

area, owned by ''Marche Multiservices''. The transaction formalized the birth of Hera Comm Marche, the commercial branch of the Hera Group for the

Marche Marche ( ; ), in English sometimes referred to as the Marches ( ) from the Italian name of the region (Le Marche), is one of the Regions of Italy, twenty regions of Italy. The region is located in the Central Italy, central area of the country, ...

region, managed by Hera Comm. On 25 July 2012, approval was given for the merger with Acegas-Aps S.p.A. (Trieste-Padua), which became part of the Hera Group as of 1 January 2013. On 1 July 2014 AMGA – Azienda Multiservizi S.p.A. merged with Hera Group.

Company profile and organizational structure

Strategies and activities are mainly carried out by the holding, which has a leading and coordinating role throughout its participations. The Hera Group's shareholding structure includes 111 municipalities which hold 45.8% of the shares together with other public shareholders. The remaining 54.2% of the free float is held by private individuals divided between institutional and retail investors, banking foundations and companies.

Shareholder A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the ...

Base as at 2024: * Municipality of

(12.599%) * Municipality of

Imola Imola (; or ) is a city and ''comune'' in the Metropolitan City of Bologna, located on the river Santerno, in the Emilia-Romagna region of northern Italy. The city is traditionally considered the western entrance to the historical region Romagna ...

(7.375%) * Municipality of

(6.863%) * Municipality of

(6.470%) *

Lazard Lazard Inc. (formerly known as Lazard Ltd and Lazard Frères & Co.) is a financial advisory and asset management firm that engages in investment banking, asset management and other financial services, primarily with institutional clients. It i ...

Asset Management LLC (5.043%) * Municipality of

(4.954%) * Municipality of

Padova Padua ( ) is a city and ''comune'' (municipality) in Veneto, northern Italy, and the capital of the province of Padua. The city lies on the banks of the river Bacchiglione, west of Venice and southeast of Vicenza, and has a population of ...

(4.803%) * Municipality of

(3.836%)

Current operations

The Hera Group operates in the public utility services sector, pursuing a sustainable management policy. The Group’s main activities are: management of waste services (waste collection and disposal,

waste-to-energy Waste-to-energy (WtE) or energy-from-waste (EfW) refers to a series of processes designed to convert waste materials into usable forms of energy, typically electricity or heat. As a form of energy recovery, WtE plays a crucial role in both wa ...

and

composting Compost is a mixture of ingredients used as plant fertilizer and to improve soil's physical, chemical, and biological properties. It is commonly prepared by Decomposition, decomposing plant and food waste, recycling organic materials, and man ...

), water services (treatment, purification, sewerage) and energy services (distribution and sale of

methane Methane ( , ) is a chemical compound with the chemical formula (one carbon atom bonded to four hydrogen atoms). It is a group-14 hydride, the simplest alkane, and the main constituent of natural gas. The abundance of methane on Earth makes ...

gas and electricity, district heating). Hera Group

EBITDA A company's earnings before interest, taxes, depreciation, and amortization (commonly abbreviated EBITDA, pronounced ) is a measure of a company's profitability of the operating business only, thus before any effects of indebtedness, state-mandat ...

composition (as at 31 December 2023): * Waste Management (23.6%) * Water (18.2%) * Electricity (20.7%) * Gas (34.6%) * Other Services (2.9%) Hera has the largest number of waste treatment plants in Italy. The environmental hygiene services provided by Hera Group in 111 municipalities in Emilia-Romagna, Friuli-Venezia Giulia, Marche, Tuscany and Veneto are part of an integrated waste management system. Activities include separated urban waste collection, washing and cleaning roads, pavements and porticos, cleaning up green areas and complementary services such as the reclamation of degraded areas and cleaning up beaches. The high percentage of separate waste collection and disposal in the reference areas makes the Group a major national operator in the field of environmental services: * waste treated: 7.7 million tonnes * separated waste collection: 72.2% * number of plants: 101 Hera Group is one of the largest Italian operators in integrated water service management. With a total network of 35.136 km and 1,251 production, treatment and purification plants, 3.6 million citizens receive catchment, treatment, distribution, sewerage and purification services: * water customers: 3.6 million * cubic metres of water sold: 283.4 million Hera is also a major national operator in gas and electricity sectors. Managing networks spanning 20 thousand km, Hera Group distributes natural gas in the provinces of Bologna, Ravenna, Forlì-Cesena, Ferrara, Modena, Rimini, Padua, Trieste, Gorizia and Udine. Through its subsidiary Marche Multiservizi, it also has a presence in the province of Pesaro-Urbino. In Bologna, Imola, Forlì, Cesena, Ferrara, Modena, Ravenna and Padua, the Group also offers district heating services, providing heat to buildings located far away from the point of production. With networks spanning 460 km, Hera serves around 82 thousand apartments. In 2013, its environmentally-friendly technology enabled it to achieve a primary energy saving of more than 34 thousand tonnes of oil equivalent (toe). Hera also oversees the distribution of electricity through 12 thousand km of grids in the provinces of Modena, Bologna, Ravenna, Gorizia and Trieste, serving a total of around 623 thousand inhabitants. The Group’s main commitment in this sector is to the implementation of smart grids and the distribution of digital meters. These are designed to ensure the rapid and remote management and exchange of an enormous volume of information about effective electricity consumption between producer, distributor and consumer. * gas customers: 3.2 million; * electricity customers: 1.4 million; * cubic metres of gas sold: 13.1 billion; * electricity sold: 12.2 TWh.

Competitors and market shares: benchmark by business

Hera Group can be compared to the other listed Italian multi-utilities. Comparison on operating data by business (waste, water, gas and electricity) also highlights the market shares.

Waste: waste treated 2023 (thousands of
tonnes The tonne ( or ; symbol: t) is a unit of mass equal to 1,000 kilograms. It is a non-SI unit accepted for use with SI. It is also referred to as a metric ton in the United States to distinguish it from the non-metric units of the s ...
)

Source: * Hera Group 7,738.1 * Iren 3,842 *

A2A A2A S.p.A. is an Italian company, organised as a ''società per azioni'', that generates, distributes, and markets renewable energy, electricity, gas, integrated water supply, and waste management services. The company has significant presence i ...

3,640 * Acea 1,829

Water: volumes sold 2023 (million of
cubic meters The cubic metre (in Commonwealth English and international spelling as used by the International Bureau of Weights and Measures) or cubic meter (in American English) is the unit of volume in the International System of Units (SI). Its symbol is ...
)

Source: * Hera Group 283.4 * Iren 179 *

Gas: volumes sold 2023 (million of
cubic meters The cubic metre (in Commonwealth English and international spelling as used by the International Bureau of Weights and Measures) or cubic meter (in American English) is the unit of volume in the International System of Units (SI). Its symbol is ...
)

Source: * Hera Group 10,727.4 *

3,032 * Iren 2,495 * Acea 199

Electricity: electricity sold 2023 (Gwh)

Source: *

22,964 * Hera Group 13,414.5 * Iren 7,590 * Acea 6,805

References

External links

Official site
{{Authority control Electric power companies of Italy Oil and gas companies of Italy Companies based in Bologna Italian companies established in 2002 Energy companies of Italy Energy companies established in 2002 Companies in the FTSE MIB