Italy's Industrie De Nora reports 9-month adjusted core profit fell 12%
05/11/2024 13:26
Nov 5 (Reuters) - Italy's Industrie De Nora DNR.MI
reported on Tuesday a 12% fall in its adjusted core profit for
the first nine months of 2024 to 107.3 million euros ($116.92
million).
De Nora said its electrode technologies business, which
generated almost 54% of its turnover for the same period, has
seen a revenue mix that is expected to continue for the
remaining part of 2024 and a reduction in production volumes.
The electrode maker added that the result also reflects the
decrease in profitability of its energy transition business
attributable to the development costs of the 'Italian
Gigafactory', the country's largest electrolyser manufacturing
plant the company had started building last July.
($1 = 0.9177 euros)
(Reporting by Philippe Leroy Beaulieu, Editing by Louise
Heavens)
((Philippe.LeroyBeaulieu@thomsonreuters.com;))