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The Board of Directors approves the Consolidated Results for the First Nine Months of 2024
11/05/2024 - 01.36 PM
REVENUES OF EURO 601 MILLION AND ADJUSTED EBITDA MARGIN OF 17.8%, IN LINE WITH 2024 GUIDANCE
THE GOOD MOMENTUM CONTINUES FOR THE WATER TECHNOLOGIES BUSINESS:
Backlog up by more than 10% compared to December 2023
Pools product line revenues up 13% year-on-year
SOLID OPERATING CASH FLOW GENERATION OF MORE THAN 80 MILLION OVER THE NINE MONTHS, MAINLY FROM THE ELECTRODE TECHNOLOGIES BUSINESS
ENERGY TRANSITION: DELIVERY OF ABOUT 790 MW OF GREEN HYDROGEN TECHNOLOGIES, UP 12% YEAR-ON-YEAR
MAIN CONSOLIDATED RESULTS FOR THE NINE MONTHS OF 2024:
Revenues: euro 601.2 million, euro 614.7 million at constant exchange rates (euro 629.8 million in 9M 2023)
Adjusted1 EBITDA2: euro 107.3 million (euro 122.0 million in 9M 2023)
Net profit: euro 52.5 million (euro 198.6 million in 9M 2023, or euro 65.4 million not considering the net income from the jv thyssenkrupp nucera’s IPO)
Positive Net Financial Position at euro 29.7 million, up from euro 14.2 million as of June 30, 2024.
1. Starting from the first half of 2024, De Nora, in order to better represent the Group’s operating profitability, decided to change the calculation of EBITDA and Adjusted EBITDA by including Accrual, Utilization, and Release of Provisions for risks and charges, which were previously classified below EBITDA. The figures for 2023 have been amended accordingly.
2. The Adjusted EBITDA excludes net non-recurring costs of approximately 0.5 €m, of which: Non-recurring personnel-related costs of 0.8 €m, Non-recurring costs for M&A and company reorganizations of 0.2€m, Non-recurring costs of € 1.5m related a contract with a Russian customer, Other non-recurring costs of €0.3 m partially off-set by the net income of €2.3 m related to the disposal of the Marine Technologies business.
De Nora
Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange specializing in electrochemistry, a leader in sustainable technologies, and plays a vital role in the industrial green hydrogen production chain. The company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of electrodes for the major industrial electrochemical processes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and surface finishing). Industrie De Nora is among the world's leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, and swimming pool sectors). Leveraging its well-established electrochemical knowledge and proven manufacturing capability, 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. In this sector, the company holds 25.85% of thyssenkrupp nucera AG &Co, a joint venture formed with thyssenkrupp group. KGaA. Founded in 1923, Industrie De Nora generated total revenues of around EUR 856 million and an Adjusted EBITDA of approximately EUR 171 million in 2023. The Company's growth process has developed organically through its continuous innovation as regards external lines through acquisitions in the U.S., Asia, and Europe. De Nora's intellectual property portfolio currently includes more than 281 patent families with more than 2,800 territorial extensions. The De Nora family owns 53.3% of the company's share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.
For further information and to access the Media Kit: Media Kit | De Nora
De Nora Investor Relations
Chiara Locati
+39 02 2129 2124
ir@denora.com
De Nora Media Relations
Barabino & Partners
Office: +39 02 72.02.35.35
Sabrina Ragone – s.ragone@barabino.it +39 338 25 19 534
Elena Magni – e.magni@barabino.it + 39 348 478 7490
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20134 Mailand, Italien
+39 02 21291
industriedenora@denora.com
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