Q3 2024 Industrie De Nora SpA Earnings Call Transcript
Key Points
- Industrie De Nora SpA (STU:M3D) reported a healthy profitability margin of 17.8% in Q3, aligning with expectations.
- The company achieved over 780 megawatts of green hydrogen technologies delivered in the first nine months, marking a 12% year-on-year increase.
- The Pools division posted a 13% year-on-year revenue growth in the first nine months and a 32% increase in Q3 compared to the same quarter in 2023.
- The water technology systems segment saw a 10.8% increase in backlog compared to December 2023, driven by strong order intake.
- Industrie De Nora SpA (STU:M3D) is expanding its manufacturing footprint with the development of an Italian Giga factory, expected to start operating in 2026.
- Q3 was a soft quarter in terms of revenues due to production planning and one-off effects.
- The energy transition business faced a temporary slowdown in the supply chain, impacting production activities.
- The electro technology division experienced an 8.6% decline in revenues over nine months, requiring a significant recovery in Q4 to meet full-year expectations.
- The backlog in the electro technology division decreased by 24% year-on-year, raising concerns about future revenue streams.
- The energy transition business's EBITDA margin was breakeven, impacted by gigafactory costs and inefficiencies related to production optimization.
Good afternoon. This is the conference call conference operator. Welcome and thank you for joining the Industrie De Nora SpA nine month 2024 financial results conference call. As a reminder, all participants are in listen-only mode. (Operator instruction). At this time, I would like to turn the conference over to MS Karra Locati, Head of Investor Relations and ESG please go ahead madam.
Good afternoon, ladies and gentlemen, and welcome to our nine-month 2024 financial results conference call. I'm Chiara Locati, Head of Investor Relations and ESG at De Nora with me on the call today. There are Paolo Enrico Dellachà our Chief Executive Officer of the group and Luca Oglialoro our CFO. They will drive you through the main achievements and financial results for the first nine months. And then we will open up the Q&A session. I would like to remind you that the slides of this presentation have been made available in the Investor relations section of our website.
With that, I would
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