Ex-energy minister Cingolani joins Italy's De Nora board (updated)
02/02/2023 10:15
(Adds details on preliminary results, share reaction)
MILAN, Feb 2 (Reuters) - Industrie De Nora DNR.MI
appointed former Ecological Transition Minister Roberto
Cingolani as an independent director, the Italian electrode
maker said on Thursday, adding its energy transition unit
reached breakeven ahead of time.
Cingolani served in former Prime Minister Mario Draghi's
government until October, playing a key role in efforts to
diversify Italy's energy sources as Russian curtailed gas
supplies to Rome.
Industrie De Nora, which began trading on the Milan bourse
last June, said it posted 2022 revenue of over 850 million euros
($934.75 million), according to preliminary results approved
late on Wednesday.
The adjusted core profit (EBITDA) is expected to rise
year-on-year by 50%, exceeding 190 million euros in 2022.
The group - which is active in electrode technologies, water
treatment and energy transition - said it made around 300
megawatt worth of products for green hydrogen generation.
The energy transition segment posted revenue of 43 million
euros, up more than 300% year on year, and achieved an adjusted
core profit of more than 2 million euros, becoming profitable
earlier than forecast.
Shares in De Nora were up 2.5% at 0935 GMT, outperforming a
0.8% rise in Italy's all shares index .FTITLMS .
($1 = 0.9093 euros)
(Reporting by Gianluca Semeraro and Francesca Landini; editing
by Alvise Armellini and Bernadette Baum)
((gianluca.semeraro@tr.com; +39 06 80 307 741;))