Industrie De Nora S p A : The Board approves the Consolidated Results for the First Half of 2026

Published July 30, 2026 at 12:16 p.m. UTC

Source: MarketScreener

Milan, July 30, 2026 - The Board of Directors of Industrie De Nora S.p.A. (the "Company" or "De Nora") - Italian multinational listed on Euronext Milan, specialized in electrochemistry, water treatment systems and sustainable solutions - under the chairmanship of Federico De Nora, approved the Half-Yearly Consolidated Financial Report as of June 30, 2025 (subject to limited audit).

Paolo Dellachà, Chief Executive Officer of Industrie De Nora, commented:

"The first half of 2026 marked significant progress in the execution of our growth journey. From a financial perspective, the improvement in operating performance achieved in the second quarter supported revenue growth and profitability, enabling us to deliver results that, in some areas, exceeded our expectations.

We are particularly pleased with the Group's commercial performance. Order intake continued at a sustained pace, and the pro-forma backlog exceeded 650 million euro, including BW Water. This achievement enhances revenue visibility for the coming quarters and confirms the strength of demand across our end markets.

During the first half, we also made important progress on our strategic priorities. The acquisition of BW Water represents a key milestone in strengthening our Water platform and further expands the Group's growth opportunities. At the same time, we continue to consolidate our leadership positions in our core businesses, while seeing encouraging signs in energy transition markets, particularly in green hydrogen and lithium refining.

We look to the second half of the year with confidence, supported by the visibility provided by our backlog, our execution capabilities, and the opportunities offered by the diversified markets in which we operate. In light of the results achieved during the first half, we confirm our expected revenue development and raise our organic adjusted EBITDA margin guidance for the 2026 financial year."

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¹The figure includes: the organic backlog as of June 30, 2026, of €484.3 million, the second tranche of orders related to the Moeve project, booked on July 6, 2026, amounting to €19.7 million, and BW Water Pte. Ltd.'s backlog as of June 30, 2026, of €154.2 million.

²"Organic" results exclude the effects of the BW Water acquisition.

³BW Water acquisition completed on July 1, 2026.

⁴The reported figure includes non-recurring revenues of €2.3m related to eligible IPCEI Gigafactory costs. Excluding this non-recurring item, adjusted revenues are €400.8m.

⁵The difference between adjusted EBITDA and reported EBITDA in the figures as of June 30, 2026 amounts to approximately €2m and includes: non-recurring termination costs for €0.4m, non-recurring IPCEI Gigafactory eligible costs less the related Grant income of for a net amount of €1.2m, non-recurring M&A and corporate reorganization costs for €1.8m, other non-recurring costs for €0.9m, partially offset by non-recurring revenues of €2.3m related to IPCEI Gigafactory eligible costs. The difference between adjusted EBITDA and reported EBITDA in the data as of June 30, 2025, amounts to approximately €2.6m and includes: non-recurring termination costs for €0.4m; non-recurring M&A and company reorganization costs of €1.2m, costs related to the divestment of the Marine Technologies and Fracking businesses of €1.1m, and other non-recurring costs of €0.1m partially offset by non-recurring IPCEI Gigafactory eligible costs less the related Grant income of for a net positive amount of €0.2m.

⁶Net Result Adjusted at June 30, 2026 does not take into account, in addition to non-recurring items included in EBITDA, non-recurring depreciation and amortization (€0.7m), impairment reversal (€0.4m), non-recurring financial expenses and non-recurring income taxes (€0.2m); all net of the overall tax effect associated with all non-recurring items, amounting to €0.6m. Net Result Adjusted as of June 30, 2025, excludes, in addition to non-recurring items included in EBITDA, non-recurring tax provision for €2.3m, non-recurring financial expenses for €0.2m the related total tax effect of approximately €0.8m.