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Business plan

These basic strategies, albeit implemented in a way which is appropriate to the new reference scenario, were confirmed yet again in the 2011-2015 business plan (presented in November 2011). Expectations for future growth, in effect, rest on the continuation of processes aimed at improving efficiency, the completion of large plants with the development of other complementary technologies in renewable energy, and maintaining expansion strategies in liberalised markets. In anticipation of tenders for gas distribution, the Group is planning to extend services in the new basins defined by the Authority in the current reference territories, in which the businesses operating have a significantly lower presence than Hera.

The generation of cash expected from these “organic” growth initiatives satisfies the strategic objective of improving financial soundness and maintaining a policy of distributing satisfactory dividends for the period of the plan.

The expansion strategies for external lines, under the logic applied in the business plan until 2015, also remain and constitute a priority for expansion in the multi-business sector in neighbouring areas and for strengthening positions in free markets at a domestic level. These strategies are directed at maintaining a “balanced” assets portfolio and can be expressly pursued thanks to the current flexibility of the financial structure, considered to be one of the most sound in the industry.

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