(Tiper Stock Exchange) – De Nora Industriesa company listed on Euronext Milan and specialized in electrochemistry and the green hydrogen supply chain, closed the first semester 2023 with revenues equal to 420.4 million euros, up by 2.4% (+4.1% at constant exchange rates) compared to the 410.5 million euros reported in the first half of 2022. This evolution mainly reflects the growth in the business segments Energy Transition and Electrode Technologies, which more than offset the expected normalization of the Water Technologies segment attributable to the pools line.
L’Adjusted EBITDA is equal to Euro 86.1 million, down by 15.8% compared to the Euro 102.3 million at 30 June 2022, with a Adjusted EBITDA margin equal to 20.5% (-440 bps) and in line with the guidance for 2023. TheNet income it stands at 46.7 million euros, up by 17.6% compared to the 39.7 million euros in the same period of 2022.
“Growth in the first half was driven by the Energy Transition Business Unit, which implemented 400 MW of green hydrogen generation technologies – commented theCEO Paolo Dellachà – bringing total production from 2022 to today to 700 MW and confirming De Nora’s leadership at a global level. De Nora’s strong positioning in green hydrogen is also reflected in the size of the backlog which now reaches 2.7 GW, if we include the major project in Sweden for over 700 MW announced by our joint venture thyssenkrupp nucera, which is successfully listed on the Frankfurt Stock Exchange in July”.
The backlog amounts to 721.7 million euros (789.6 million euros as at 31 December 2022 and 740.8 million euros as at 31 March 2023), with the evolution mainly reflecting the good execution of the projects in the reference period and the acquiring new orders.
There Net Financial Position as at 30 June 2023 it shows net liquidity of €8.4 million and is essentially stable compared to 31 March 2023 (€10.1 million).
Industrie De Nora underlined that the projections for 2023 confirm the profitability and financial structure objectives in the plan despite a slowdown in expected revenue growth which is still in the low end of the range hypothesized for 2023.
The Board of Directors has appointed by co-optation Giorgio Metta as new independent member of the Board of Directors of Industrie De Nora. The new Director has accepted the appointment and will remain in office until the date of the first meeting useful to confirm the office.