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Investments: list of consolidated companies

Subsidiary companies

Name Registered officeShare capital% heldTotal interest
   direct indirect 
Parent Company: Hera SpaBologna            1,340,383,538   
Acantho SpaImola (BO)                 22,500,00079.94% 79.94%
Acegas-Aps SpaTrieste                283,690,76399.78% 99.78%
AcegasAps Service SrlPadova                    1,480,400 99.78%99.78%
Akron SpaImola (BO)                   1,152,940 43.13%43.13%
ASA  ScpaCastelmaggiore (BO)                   1,820,000 38.25%38.25%
Consorzio Akhea Fondo ConsortileBologna                       200,000 59.38%59.38%
CST SrlPordenone                      104,000 99.78%99.78%
Energonut SpaBologna                    2,481,795 75.00%75.00%
Eris ScrlRavenna                       300,000 51.00%51.00%
Feronia SrlFinale Emilia (MO)                   2,430,000 52.50%52.50%
Frullo Energia Ambiente SrlBologna                  17,139,100 38.25%38.25%
Gal.A. SpaBologna                       300,000 45.00%45.00%
HeraAmbiente SpaBologna                271,148,00075.00% 75.00%
Hera Comm SrlImola (BO)                 53,136,987100.00% 100.00%
Hera Comm Marche SrlUrbino (PU)                   1,977,332 70.54%70.54%
Hera Energie SrlBologna                       926,000 51.00%51.00%
Hera Energie Rinnovabili SpaBologna                    1,832,000100.00% 100.00%
Hera Luce SrlSan Mauro Pascoli (FC)                   1,000,00089.58% 89.58%
Hera Servizi Cimiteriali Srl.Bologna                         20,000100.00% 100.00%
Hera Servizi Funerari SrlBologna                         10,000 100.00%100.00%
Herasocrem SrlBologna                       100,00051.00% 51.00%
Hera Trading  SrlTrieste                  22,600,000100.00% 100.00%
Iniziative Ambientali SrlPadova                       110,000 99.78%99.78%
Insigna SrlPadova                         10,000 99.78%99.78%
Marche Multiservizi SpaPesaro                 13,484,24244.62% 44.62%
Medea SpaSassari                    4,500,000100.00% 100.00%
MMS Ecologica SrlPesaro                        95,000 44.62%44.62%
Modena Network SpaModena                   3,000,00014.00%31.97%45.97%
Naonis Energia Srl in liquidazioneAviano (PN)                      100,000 58.87%58.87%
Naturambiente SrlPesaro                        50,000 44.62%44.62%
NestAmbiente SrlPadova                    1,748,472 99.78%99.78%
Nuova Geovis SpaSant'Agata Bolognese (BO)                   2,205,000 75.00%75.00%
Rila Gas ADSofia (Bulgaria) 33.337lev/000  99.78%99.78%
Romagna Compost SrlCesena                    3,560,002 45.00%45.00%
SiGas d.o.oPozega (Serbia) 162.260.057,70 din  95.57%95.57%
Sinergia SrlForlì                       579,600 59.00%59.00%
Sinergie SpaPadova                  11,168,284 99.78%99.78%
Società Italiana Lining SrlPadova                         90,000 99.78%99.78%
Sotris SpaRavenna                    2,340,0005.00%52.50%57.50%
Sviluppo Ambiente Toscana SrlBologna                         10,00095.00%3.75%98.75%
Trieste Onoranze e Trasporti Funebri SrlTrieste                         50,000 99.78%99.78%
Tri-Generazione Srl*Padova                       100,000 69.85%69.85%
Uniflotte SrlBologna                    2,254,17797.00% 97.00%

* il capitale della società Trigenerazione Srl risulta versato per € 25.000

Jointly controlled companies

Name Registered officeShare capital% heldTotal interests
   direct indirect 
Aristea Sinergie Illuminazione  Scarl*Padova                         10,000 49.89%49.89%
Enomondo SrlFaenza (RA)                 14,000,000 37.50%37.50%
Estenergy SpaTrieste                    1,718,096 50.89%50.89%
Est Reti Elettriche SpaGorizia                  17,450,000 29.93%29.93%
Estpiù SpaGorizia                    7,100,000 29.93%29.93%
Isontina Reti Gas SpaGradisca D'Isonzo (GO)                 17,450,000 29.93%29.93%

 * il capitale della società Aristea Sinergie Illuminazione Scarl risulta versato per 2.500

Associated companies

Name Registered officeShare capital% heldTotal interest
   direct indirect 
Aimag  Spa*Mirandola (MO)                                *                 78,027,68125.00% 25.00%
Elettrogorizia SpaTrieste                    5,600,000 32.93%32.93%
FlameEnergy Trading GmbhVienna                   3,000,000 50.00%50.00%
Ghirlandina Solare SrlConcordia Sulla Secchia (MO)                        60,000 33.00%33.00%
Q.Thermo SrlFirenze                         10,000 39.50%39.50%
Set SpaMilano                       120,00039.00% 39.00%
So.Sel  SpaModena                      240,240 26.00%26.00%
Sgr Servizi SpaRimini                   5,982,262 29.61%29.61%
Tamarete Energia SrlOrtona (CH)                   3,600,00032.00% 32.00%

* the share capital is composed of € 67.577.681 of ordinary shares and € 10.450.000 of related shares