Brasil
China
Germany
India
JapanTHE BOARD OF DIRECTORS APPROVES THE PRELIMINARY RESULTS AS OF DECEMBER 31, 2023
Net profit about Euro 230 million (Euro 90 million in 2022), partly due to the listing of thyssenkrupp nucera
Adjusted EBITDA margin at 20%
Revenues in line with 2023 guidance at about Euro 856 million, up 4% at constant exchange rates
Energy Transition division grows 140% year-on-year with revenues at about Euro 102 million and Adjusted EBITDA margin at 12%
Realized 1 Gigawatt of technologies dedicated to green hydrogen generation over 3X vs. 2022 (0.3 Gigawatt)
Positive Net Financial Position at Euro 68 million (Euro 51 million in 2022)
2023 Consolidated preliminary results highlights (audit ongoing):
• Revenues: about euro 856 million (euro 853 million in 2022), about + 0.4% YoY, or +4% at constant exchange rates;
• Adjusted EBITDA1: about euro 171 million (euro 191 million in 2022), -10% YoY;
• Net income2: about euro 230 million (euro 90 million in 2022), +157% YoY;
• Positive Net Financial Position at euro 68 million3 up compared to euro 51 million of December 31, 2022
Milan. 14 February 2024 – The Board of Directors of Industrie De Nora S.p.A. (“De Nora”), an Italian multinational listed on Euronext Milan, specializing in electrochemistry, a leader in sustainable technologies and the emerging green hydrogen industry, met yesterday and reviewed some key preliminary figures as of December 31, 2023 (audit ongoing). The final full-year financial results will be approved by the Board of Directors on March 18, 2024.
Paolo Dellachà, Chief Executive Officer of Industrie De Nora, commented:
"The positive results achieved in 2023, now preliminarily presented, with revenues growing by 4% at constant exchange rates and solid operating profitability, further confirm the strength and resilience of our business model, which combines technological innovation with sustainability. The growth of the Energy Transition business continues, with a 140% increase in revenues. In 2023 De Nora realized 1 GW of technologies dedicated to green hydrogen generation, more than tripling 2022 production. The Energy Transition division's backlog, which was recently enriched by a new order from thyssenkrupp nucera for a more than 700 MW project in Sweden, supports business growth expectations in the coming years”.
1- Non-recurring items are non-material on the 2023 financial statements so EBITDA and Adjusted EBITDA do not differ significantly from each other.
2- Net income as of December 31, 2023, includes, as a result of the IPO of the associated company thyssenkrupp nucera, total non-recurring income of euro 133 million from the reduction of Industrie De Nora S.p.A.'s percentage shareholding in thyssenkrupp nucera (dilutive effect) and the gain related to the exercise of the greenshoe option.
3- The figure includes euro 26.4 million from the exercise of the greenshoe option related to the listing of thyssenkrupp nucera.