Financial
Price sensitive
The Board approves the Consolidated Results for the First Half of 2023
07/31/2023 - 02.53 PM
Growing Consolidated Revenues
Strong operating profitability: Adjusted EBITDA margin at 20.5%
Net Income increased by 17.6%
400 MW of green hydrogen generation technologies completed
The Energy Transition Business grew 7x compared to H1 2022, EBITDA margin 12.8%
The Board appoints by cooptation Mr. Giorgio Metta as a new Indipendent Director
MAIN CONSOLIDATED RESULTS FOR THE FIRST HALF OF 2023:
Revenues: Euro 420.4 million (Euro 410.5 million in H1 2022) +2.4% YoY, +4.1% at constant exchange rates
Adjusted EBITDA1: euro 86.1 million (Euro 102.3 million in H1 2022) -15.8% YoY
Net profit: Euro 46.7 million (Euro 39.7 million in H1 2022) +17.6% YoY
Net cash financial position at Euro 8.4 million (euro 10.1 million as of March 31st, 2023), improving vs. Euro -18.7 million as of June 30th, 2022
1- The Adjusted Gross Operating Margin (EBITDA) excludes non-recurring items for approximately Euro 1.3 million, of which 0.2 for termination costs, 0.7 for IPO-related costs, 0.1 for M&A activities and 0.3 for others non-recurring project
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 has a pivotal 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 activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and non-ferrous metal refining). Industrie De Nora is also among the world's leading suppliers of water filtration and disinfection technologies (for the industrial and municipal sectors) and the world's leading swimming pool disinfection components supplier. 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. In this sector, the company also holds 25.85% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group. Founded in 1923, Industrie De Nora generated total revenues of around EUR 856 million and an Adjusted EBITDA of approx. EUR 171 million in 2023. The Company's growth process has developed organically through continued penetration of new markets and applications and through acquisitions in the U.S., Asia, and Europe. De Nora’s continuous innovation drives its growth, represented by its evolving intellectual property portfolio, which currently includes more than 280 patent families with more than 2,800 territorial extensions. The De Nora family controls the Group, which owns 53.3% of the Company’s share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.
Investor Relations
Chiara Locati
+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
Elena Magni – e.magni@barabino.it + 39 348 478 7490
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