De Nora in free fall at Piazza Affari after the publication of the 2024 accounts closed with lower profits and coupons and the update of the plan to 2027. Around 11, the stock drops 22% of its value at 7,83 euros per share.
Industrie De Nora: profit drops by 12,4%
In 2024, De Nora recorded revenues equal to 862,6 million euros, slightly up (+0,7%) compared to the previous year. It instead fell by 12,4% adjusted net profit, which stood at 88,8 million euros.
Moving forward with the data, adjusted EBITDA fell by 8,8% to 157,4 million euros. TheNet income, including non-recurring charges and income, would be equal to 83,3 million (-64% compared to the 2023 figure which included income relating to the listing of the associated company Thyssenkrupp Nucera).
Down the dividend: the board of directors has in fact proposed a coupon of 0,104 euros, down from 0,123 euros the previous year. The net financial position is stable at 67,1 million.
Estimates for 2025 and the plan to 2027
For 2025, the company expects growth of “low single-digit” revenues, driven by the Water and Energy Transition segments and high visibility based on “the solid order book”.
“The lively commercial dynamics that developed during the financial year, with an overall growth in orders of 15% compared to 2023, and which are continuing also in these initial months of 2025, together with the financial solidity of the group, supported by an excellent capacity for generating operating cash, constitute the prerequisites for a continuation of our development path, even in a complicated macroeconomic and geopolitical context, such as the current one”, underlines Paolo Dellachà, CEO of Industrie De Nora.
L'update of the 2025-2027 Plan aims at the "solidity" of core business revenues that grow overall "low single-digit", a generation of operating cash capable of covering investments and dividends, in the face of a stable positive net financial position at the end of the Plan. "The solid financial structure - we finally read in the note - allows us to evaluate M&A opportunities capable of accelerating growth".
