Italy's Industrie De Nora posts double-digit falls in revenue, net profit
08/05/2024 14:25
May 8 (Reuters) - Italian electrode maker Industrie De
Nora DNR.MI reported a double digit drop in both revenue and
net profit in the first quarter on Wednesday, mainly due to poor
performance at its main business unit.
The group's first quarter revenue fell 12.8% from a year
earlier to 189.3 million euros ($203.5 million), impacted by a
lower contribution from its Electrode Technologies business and
foreign currency effects.
Net profit was down 26% over the same period to 17.9 million
euros.
However, the company reported an adjusted EBITDA margin of
19%, in line with its 2024-2026 industrial plan.
($1 = 0.9303 euros)
(Reporting by Alberto Chiumento)
((Alberto.chiumento@thomsonreuters.com))