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Board of Directors approves consolidated results for the first nine months of 2022

Milan, 9 November 2022

BOARD OF DIRECTORS APPROVES CONSOLIDATED RESULTS FOR  THE FIRST NINE MONTHS OF 2022.

Key consolidated results for the first nine months of 2022:

  • Consolidated revenues for the first nine months of 2022 at Euro 616.6 million, up 51.8% against the first nine months of 2021
  • Adjusted Gross Operating Margin (adjusted EBITDA): Euro 145.9 million (+79.3% compared to the first nine months of 2021)
  • Operating profit (EBIT): Euro 97.3 million (+68.9% compared to the first nine months of 2021)
  • Net profit*: Euro 63.9 million (+51.1% compared to the first nine months of 2021)
  • Net financial indebtedness: Euro 0.6 million
  • Backlog at Euro 646.4 million, +18.2% compared to year-end 2021

*Includes non-recurring items for €19.4m related to the Management Incentive Plan and €3.5m for IPO costs

The Board of Directors of Industrie De Nora - Italian multinational listed on Euronext Milan, specialised in the electrochemical industry and leader in sustainable technologies and in the emerging green hydrogen industry - which met on 8 November 2022, approved the (unaudited) consolidated results as at 30 September 2022. 

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

"The results for the first nine months of 2022 consolidate strong growth across all business segments and geographic areas in which the group operates, with consolidated revenues up 52%. At the same time, we maintain a high level of profitability with an Ebitda Margin of nearly 24% thanks to ongoing cost control and commercial policy management. 
These results confirm the robustness of our business model and allow us to confirm our 2022 revenue and margin targets, despite the complex market environment. The backlog, which reached the highest level in our history, also provides further visibility for future growth. Finally, our solid financial structure allows us not to suffer negative effects from the current macroeconomic environment characterized by rising interest rates".