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2022 H1 Consolidated Results

Milan, August 4th, 2022

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 Guidelines:

  • 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".