Financial
Price sensitive
2022 H1 Consolidated Results
08/04/2022 - 08.03 AM
CONSOLIDATED RESULTS FOR H1 2022 APPROVED
2022 GUIDELINES: REVENUE AND EBITDA TARGETS UP
INDUSTRIE DE NORA SELECTED AMONG THE 6 ITALIAN COMPANIES PARTICIPATING IN THE FIRST IMPORTANT PROJECT OF COMMON EUROPEAN INTEREST (IPCEI) ON HYDROGEN APPROVED BY THE EUROPEAN COMMISSION
KEY CONSOLIDATED RESULTS FOR H1 2022:
Consolidated revenues for H1 2022 at Euro 410.5 million, up 61.8% against H1 2021
Adjusted Gross Operating Margin (adjusted EBITDA): Euro 102.3 (+127% compared to H1 2021)
Operating profit (EBIT): Euro 62.8 million (+111% compared to H1 2021)
Net profit: Euro 39.7 million (+69% compared to H1 2021)
Net financial indebtedness: Euro 18.7 million
Backlog at Euro 616.3 million, +12.6% compared to year-end 2021
2022 GIUDELINES:
Revenues at Euro 880-910 million
Adjusted EBITDA at Euro 185-195 million
Paolo Dellachà, Chief Executive Officer of Industrie De Nora, commented:
"The signs of significant growth and profitability recorded at the beginning of the year have been confirmed, enabling us to close the first half of the year with excellent results that have led to an upward revision of our targets, despite the complex market scenario.
The results for the first half of 2022 showed strong growth across all business segments and geographic areas in which the group operates, with consolidated revenues up 62%. The company also recorded very high levels of profitability also thanks to ongoing cost control and policy management in the commercial area, achieving an Ebitda Margin of 25%.
The broad geographical diversification and complementary of the product portfolio proved to be the group's main levers of resilience and development. Moreover, the backlog, which reached the highest level in our history, provides further visibility for future growth."
Lastly, Dellachà confirms:
"We will continue to move with a long-term industrial mindset and with the tenacity and passion that we have repeatedly demonstrated, most recently by pursuing a successful IPO that garnered strong demand from institutional investors globally, despite an unfavorable macroeconomic and financial market scenario. The company expects to continue growing across all business segments, pursuing the challenging new targets for 2022, which see revenues at around Euro 900 million and an adjusted EBITDA between Euro 185 million and Euro 195 million".
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 53 percent of the Company’s share capital (assuming full exercise of the greenshoe option), with Snam S.p.A. as a minority shareholder with about 25 percent of the capital (assuming full exercise of the greenshoe option).
Investor Relations
Marco Porro
+39 02 2129 2124
ir@denora.com
Media Relations
Barabino & Partners
Office: +39 02/72.02.35.35
Sabrina Ragone – s.ragone@barabino.it +39 338 25 19 534
Alberto Piana – a.piana@barabino.it +39 342 76 70 164
Via Leonardo Bistolfi, 35
20134 Milan Italy
+39 02 21291
industriedenora@denora.com
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Share capital € 18.268.203,90 Fully paid up - Company registration number MI / VAT 03998870962 - REA number MI - 1717984