The Board approves the Consolidated Results for the first quarter of 2026

Milan, May 06, 2026 – The Board of Directors of Industrie De Nora S.p.A. (the “Company” or “De Nora”) – Italian multinational listed on the Euronext Milan, specialized in the electrochemical industry and leader in sustainable technologies and in the green hydrogen industry –  under the chairmanship of Federico De Nora, approved the consolidated results of the Company as of March 31, 2026 (not subject to audit). 

Paolo Dellachà, Chief Executive Officer of Industrie De Nora, commented:

“The first quarter of the financial year unfolded in a turbulent environment, marked by persistent geopolitical tensions affecting several macroeconomic factors, including heightened volatility in raw material prices, making short‑term forecasting more challenging. At the same time, tensions in the global energy system are reinforcing, in Europe, and beyond, the urgency to accelerate the path toward greater energy security and independence, supporting the transition to low‑carbon solutions and circular resource use models. In this context, De Nora’s business model is well positioned to capture these trends, which are already fully embedded in the Group’s medium‑ to long‑term growth strategy.

In this context, the launch in Spain of the Moeve project to produce green hydrogen – the largest in Southern Europe – in which De Nora is involved, represents a highly significant milestone for European decarbonization and a source of particular satisfaction. The project confirms the vitality of a key sector for an effective and sustainable energy transition.”

“In the first quarter of 2026, the Group delivered results in line with expectations. Profitability remained solid, while the core business backlog recorded a significant increase, reaching its highest level since the end of 2023, supported by a strong rise in new orders.

In light of the positive backlog evolution, the increase in selling prices driven by raw materials inflationary pressures, the expected sales mix and the operational efficiencies we are progressively delivering, we confirm the guidance communicated in March and expect to achieve results in the upper end of the range, both in terms of revenues and operating profitability.”

¹ The reported figure includes non-recurring revenues of €1.2 million related to eligible IPCEI Gigafactory costs. Excluding this non-recurring item, adjusted revenues amount to €177.3 million.

² The difference between adjusted EBITDA and reported EBITDA in the figures as of March 31, 2026 amounts to approximately €1.2 million and includes non-recurring M&A and corporate reorganization costs of €0.9 million, IPCEI Gigafactory eligible costs less the related Grant income of for a net amount of €1.3 million, other non-recurring costs of €0.2 million, partially offset by non-recurring revenues of €1.2 million related to IPCEI Gigafactory eligible costs. The difference between adjusted EBITDA and reported EBITDA in the data as of March 31, 2025, amounts to approximately €3.4 million and includes: non-recurring provisions for tax risks of €1.5 million; non-recurring M&A and company reorganization costs of €0.5 million, costs related to the divestment of the Marine Technologies business of € 0.7 million, costs related to the divestment of the Fracking business of € 0.2 million, net IPCEI Gigafactory project costs of € 0.2 million, and other non-recurring costs of € 0.3 million.

³ Adjusted Net Profit at March 31, 2026 does not take into account, in addition to non-recurring items included in EBITDA, non-recurring depreciation and amortization (€0.1 million), non-recurring financial income (€0.1 million), non-recurring income taxes (€0.2 million); all net of the overall tax effect associated with all non-recurring items, amounting to €0.3 million. Adjusted Net Income as of March 31, 2025, excludes, in addition to nonrecurring items included in EBITDA, the related total tax effect of approximately euro 0.5 million.