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The Board of Directors approves consolidated results for the first nine months of 2022
11/09/2022 - 08.12 AM
KEY CONSOLIDATED RESULTS FOR THE FIRST NINE MONTHS OF 2022:
Consolidated revenues for the first nine months of 2022 at Euro 616.6 million, up 51.8% against the first nine months of 2021
Adjusted Gross Operating Margin (adjusted EBITDA): Euro 145.9 million (+79.3% compared to the first nine months of 2021)
Operating profit (EBIT): Euro 97.3 million (+68.9% compared to the first nine months of 2021)
Net profit*: Euro 63.9 million (+51.1% compared to the first nine months of 2021)
Net financial indebtedness: Euro 0.6 million
Backlog at Euro 646.4 million, +18.2% compared to year-end 2021
*Includes non-recurring items for €19.4m related to the Management Incentive Plan and €3.5m for IPO costs
The Board of Directors of Industrie De Nora - Italian multinational listed on Euronext Milan, specialised in the electrochemical industry and leader in sustainable technologies and in the emerging green hydrogen industry - which met on 8 November 2022, approved the (unaudited) consolidated results as at 30 September 2022.
Paolo Dellachà, Chief Executive Officer of Industrie De Nora, commented:
"The results for the first nine months of 2022 consolidate strong growth across all business segments and geographic areas in which the group operates, with consolidated revenues up 52%. At the same time, we maintain a high level of profitability with an Ebitda Margin of nearly 24% thanks to ongoing cost control and commercial policy management.
These results confirm the robustness of our business model and allow us to confirm our 2022 revenue and margin targets, despite the complex market environment. The backlog, which reached the highest level in our history, also provides further visibility for future growth. Finally, our solid financial structure allows us not to suffer negative effects from the current macroeconomic environment characterized by rising interest rates".
De Nora
Industrie De Nora is an Italian multinational company, listed on Euronext Milan stock exchange, specialized in electrochemistry, a leader in sustainable technologies and with a key role in the industrial green hydrogen production chain. The Company has a portfolio of products and systems to optimize the energy efficiency of key industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine & caustic soda production, components for electronics, non-ferrous metal refining). Industrie De Nora is also among the world's leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, and marine sectors) and the world's leading supplier of swimming pool disinfection components. Leveraging its well-established electrochemical knowledge, proven manufacturing capability, and a supply chain established over the years, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition.
Founded in 1923, Industrie De Nora had total revenues of €616 million and EBITDA of €127 million in 2021. The Company's growth process has developed both organically, through continued penetration of new markets and applications, and through acquisitions in the U.S., Asia, and Europe. The Company’s growth is supported by continuous innovation well represented by its evolving intellectual property portfolio, which currently includes more than 260 patent families with more than 2,600 territorial extensions. The Company's portfolio includes a stake (about 34 percent) in the thyssenkrupp NUCERA joint venture, a world-leading engineering company in chlorine production and water electrolysis plants to produce hydrogen. The Group is controlled by the De Nora family, which owns approximately 55 percent of the Company’s share capital, with Snam S.p.A. as a minority shareholder with about 26 percent of the capital.
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ir@denora.com
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