The Board approves the Consolidated Results for the First Nine Months of 2023

Milan, 8 November 2023

THE BOARD APPROVES THE CONSOLIDATED RESULTS FOR THE FIRST NINE MONTHS OF 2023

Net profit up to Euro 198.6 million (+211% year on year), also as a result of the income from the IPO of the thyssenkrupp nucera joint venture

Strong operating profitability: Adjusted EBITDA margin at 19.7%

Revenues at Euro 629.8 million, up by 2.1%, at constant exchange rates the growth was 5.4%

700 MW of green hydrogen generation technologies were completed, more than double the 300 MW realized in the full year 2022
 
The Energy Transition Business grew 4.9x compared to 9M 2022. EBITDA margin stable at 11%

2023-2026 PLAN

The new Business Plan 2023 - 2026 will be disclosed on the occasion of the FY 2023 financial results presentation

TREASURY SHARE PURCHASE PROGRAM LAUNCHED
 

Main consolidated results for the first nine months of 2023:

• Revenues: euro 629.8 million (euro 616.6 million in 9M 2022), +2.1% YoY, +5.4% at constant exchange rates
• Adjusted EBITDA¹: euro 124.3 million (euro 145.9 million in 9M 2022), -14.8% YoY
• Net profit: euro 198.6 million² (euro 63.9 million in 9M 2022), +211% YoY
• Positive net cash³ of euro 41.8 million, up compared to the euro 8.4 million of June 30, 2023. 

^{1 - Adjusted EBITDA excludes non-recurring items for approximately euro 2.4 million, of which euro 0.9 million for termination costs, euro 0.7 million for IPO-related costs, euro 0.2 million for M&A activities and euro 0.7 million for other non-recurring costs.
2 - The net profit at September 30, 2023, following the IPO of the associate thyssenkrupp Nucera, includes total non-recurring income of euro 133 million arising from the reduction of Industrie De Nora S.p.A. interest in thyssenkrupp nucera (dilutive effect) and the capital gain relating to exercise of the greenshoe option.
3 - The figure includes euro 26.4 million deriving from exercise of the greenshoe option linked to the listing of the jv thyssenkrupp nucera.}