The Board of Directors approves the Consolidated Results for the First Nine Months of 2024

Revenues of euro 601 million and adjusted EBITDA margin of 17.8%, in line with 2024 guidance

The good momentum continues for the Water Technologies business: 
Backlog up by more than 10% compared to December 2023
Pools product line revenues up 13% year-on-year  

Solid operating cash flow generation of more than euro 80 million over the nine months, mainly from the Electrode Technologies business

Energy transition: delivery of about 790 MW of green hydrogen technologies, up 12% year-on-year

***

Main consolidated results for the Nine Months of 2024:

•    Revenues: euro 601.2 million, euro 614.7 million at constant exchange rates (euro 629.8 million in 9M 2023)
•    Adjusted¹ EBITDA²: euro 107.3 million (euro 122.0 million in 9M 2023)
•    Net profit: euro 52.5 million (euro 198.6 million in 9M 2023, or euro 65.4 million not considering the net income from the jv thyssenkrupp nucera’s IPO) 
•    Positive Net Financial Position at euro 29.7 million, up from euro 14.2 million as of June 30, 2024.
 

 ^{1. Starting from the first half of 2024, De Nora, in order to better represent the Group’s operating profitability, decided to change the calculation of EBITDA and Adjusted EBITDA by including Accrual, Utilization, and Release of Provisions for risks and charges, which were previously classified below EBITDA. The figures for 2023 have been amended accordingly.  
 2. The Adjusted EBITDA excludes net non-recurring costs of approximately 0.5 €m, of which: Non-recurring personnel-related costs of 0.8 €m, Non-recurring costs for M&A and company reorganizations of 0.2€m, Non-recurring costs of € 1.5m related a contract with a Russian customer, Other non-recurring costs of €0.3 m partially off-set by the net income of €2.3 m related to the disposal of the Marine Technologies business.}