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Letter from the Managing Director

Maurizio Chiarini

Again this year, for the second consecutive year, the Sustainability Report is presented to the Shareholders’ Meeting together with the Financial Statements. In this way, the Sustainability Report, in addition to being a company management tool, has the same status as the Financial Statements.

The Sustainability Report has been developed in order to respond to the expectations of all company stakeholders: the various sections of the Report present the projects, indicators, results and engagement activities for each single category of stakeholder. In each section, in addition, the targets stated in the previous reports are presented, along with the results achieved and the targets for the following years.

We adopted this working method several years ago in order to emphasise the fact that our Group, in addition to reaching financial targets, also includes among its strategic priorities the need to achieve results in terms of service quality and, more generally, in terms of attention to issues regarding sustainability.

As additional confirmation of this approach, many of the targets linked to sustainability and illustrated in this Report are integrated into the bonus system, at all levels.

I would like to highlight an additional aspect of this Report which I consider particularly important.  In many cases, the results achieved by Hera are compared with obligations set forth by law, with the standards laid down by Regulatory Authorities or with the results of other companies.

In this way, we ensure that our stakeholders not only know whether we reach the targets we have set, but are able to compare our results with those of ours competitors.

Specifically, a study conducted by the Mediobanca Research Department compared the results of companies controlled by the largest Italian municipalities. Hera took first place in many areas: investments in the water and waste management sectors, lack of gas network leaks, quick response in the event of problems with the gas network, and call centre waiting times.

All of this means that the investments made over the past few years in the various sectors in which the company operates have produced positive results, not only for shareholders, but also for customers and, more generally, for the local areas.

Maurizio Chiarini
Managing Director