Q3 2025 Maire SpA Earnings Call Transcript
Key Points
- Maire SpA (STU:3OY1) achieved a remarkable 27% year-on-year revenue growth in the first nine months of 2025.
- The company's EBITDA margin improved to 6.8%, supported by high value-added services and strong project execution.
- Maire SpA secured EUR5.8 billion in new awards, more than replacing the revenue generated in the period.
- The company's backlog reached EUR13.9 billion, reflecting successful diversification across regions such as the Middle East, North Africa, and Central Asia.
- Maire SpA's financial discipline and cash generation resulted in EUR342 million of adjusted net cash by the end of the nine-month period.
- The decision-making process of clients has been affected by macro and geopolitical uncertainties, impacting project timelines.
- The company's profitability in the NextChem unit may not maintain the high levels seen in the third quarter due to a shift in product mix.
- Maire SpA's CapEx spending is behind schedule, with only EUR50 million spent out of the EUR130-150 million guidance for 2025.
- There is a reliance on securing financial packages for projects, which can prolong the negotiation process with clients.
- The company faces challenges in new regions like Kazakhstan, where operational execution is still being established.
Good day and welcome to Maire 9 months 2025 results conference call. My name is Sergei, and I'll be your coordinator for today's event.
(Operator Instructions)
And now I'd like to hand the call over to Silvia Guidi, Head of Investor Relations. Please go ahead, ma'am.
Good afternoon, everybody and thank you for joining our call on my 9-month 2025 financial results. My name is Silvia Guidi and I'm the Head of Investor Relations. I'm joined by today's speakers Alessandro Bernini, CEO, Mariano Avanzi, CFO, and Fabio Fritelli, NextChem Managing Director.
They will walk you through the operating red highlights of our business units for the first 9 months. This will be followed by an overview of our financial results. At the end of the presentation, we would be happy to take your questions.
Let me now hand over to Alessandro for some introductory remarks.
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