Industrie De Nora SpA (MIL:DNR)

Q3 2025 Industrie De Nora SpA Earnings Call Transcript

Nov 4, 2025 / 03:00 PM GMT

Release Date Price: €8.44 (+17.23%)

Transcript

Key Points

Positve

Industrie De Nora SpA (STU:M3D) reported a 22% year-on-year increase in adjusted net results, showcasing strong financial performance.
The company successfully completed the NEO project, delivering over 800 megawatts of green hydrogen technology, reinforcing its position in the energy transition market.
The water segment saw a 20% increase in backlog compared to the end of 2024, indicating strong future business visibility.
Industrie De Nora SpA (STU:M3D) achieved a 60% year-on-year increase in order intake for the electrotechnology business in Q3, driven by strong demand in Asia.
The company raised its adjusted EBITDA margin guidance for the second time, now projecting approximately 19% for the full year 2025, reflecting better-than-expected profitability.

Negative

The macroeconomic environment remains volatile and complex, with geopolitical uncertainties potentially impacting investment decisions by clients.
The electro technologies business reported a decline in revenues, attributed to production schedules and the cessation of business with Russian customers.
Currency headwinds, particularly from the US dollar and JPY, negatively impacted revenue growth, which would have been higher at constant exchange rates.
The energy transition business faces uncertainty regarding the timing of final investment decisions, which could affect future revenue visibility.
The backlog for hydrogen-related projects is expected to be close to zero by the end of the year, posing a challenge for revenue generation in 2026 unless new orders are secured soon.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DNR.MI - Industrie De Nora SpA
Q3 2025 Industrie De Nora SpA Earnings Call
Nov 04, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. This is the Cos call conference operator. Welcome and thank you for joining the Industry Denora 9 month 2025 results presentation.

As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions.

Should anyone need assistance during the conference call, they may run an operator by pressing and 0 on their telephone.

At this time, I would like to turn the conference over to Karra Locati, head of investor relations and ESG. Please go ahead, madam.

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Unidentified_2 [2]
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