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Strategic approach

Heras strategic objective is to create value in the medium and long term, by competing autonomously and effectively on deregulated markets and efficiently managing the primary regulated services in order to fulfil the requirements of its stakeholders.

Within an environment of progressive deregulation which is dominated by large scale operators, these objectives have translated into a predisposition for growth in all our core businesses, through internal as well as external lines and using the leverage of the competitive advantages and synergies that ensue from the integration process. The realisation of these objectives has first of all allowed strong consolidation of the Hera perimeter which was then followed by rapid expansion.

The mergers that succeeded one another since 2002 were pursued on the basis of an industrial integration strategy, with centralisation of certain management functions in order to take advantage of efficiency potential and benefit from economies of scale. These strategies have never lost their focus on maintaining operating control of all local reference territories so as to preserve the proximity to customers and the strong links with the territory, both being the elements which have traditionally represented Heras true competitive advantage.

The strategic focus on core activities has resulted in streamlining the asset portfolio, with disposal of the smaller businesses and corporate rationalisation which ended up with a more streamlined corporate organisation chart, in line with the new unbundling rational of the sector.

Taking advantage of economies of scalehas resulted in cost reduction and continually increasing efficiency of the operations. A single business policy with a centralised development and investment plan, upgrading of the group information system and the creation of an organisation model under an industrial holding company, are the main elements that ensured the improvement of the network management, together with customers, operating procedures and human resources management in every operating unit.