• Robust start to the year with double-digit growth of the main economic metrics:
- Revenues of €1.3 billion (+31.9%)
- EBITDA of €82.1 million (+41.6%) with a margin increased from 6.1% to 6.5%
- Net income of €46.6 million (+77.7%)
• Excellent performance of Sustainable Technology Solutions, generating revenues of €76.8 million (+35.8%) and EBITDA of €19.5 million (+65.2%), with a margin increased from 20.9% to 25.4%
• Strong growth of Integrated E&C Solutions, generating revenues of €1.2 billion (+31.7%) and EBITDA of €62.6 million (+35.5%), also thanks to the contribution of the Hail and Ghasha project, which is progressing according to project's schedule
• Adjusted Net Cash Position of €352.0 million, up €14.2 million compared to the end of 2023, net of €8.7 million capex and €21.0 million share buy-back program
• Order intake at €1.3 billion, contributing to a solid backlog of €15.3 billion, up €278.4 million compared to the end of 2023
• Hired 568 new professionals, of which 108 women, to support execution capability while enhancing diversity and inclusion
• Signed binding agreements for the acquisition of HyDEP and GasConTec, which will support the expansion of NEXTCHEM's technology offering
• Distributed a dividend of €0.197 per share, up 59% from 2023, for a total amount of €63.5 million, with payment on today's date
• 2024 Guidance confirmed for all economic and financial KPIs
Milan, 24 April 2024 - The Board of Directors of MAIRE S.p.A. ("MAIRE" or the "Company") met today to review and approve the Group's Interim Financial Report as of 31 March 2024.
Alessandro Bernini, Chief Executive Officer of MAIRE, commented:
"We are pleased with the first quarter results we presented today: we continue to achieve a double-digit growth in the main indicators, thanks to a steady project execution and an increasing contribution from high value-added solutions. We also keep enhancing our technology offering to support industry decarbonization, including the acquisitions of HyDEP and GasConTec, which we expect to complete in the next weeks. The robust market demand in the downstream segment and the sizeable commercial opportunities - some of which we are confident could be finalized in the next weeks - will provide a solid foundation to the Group's growth in the years to come, in line with the Strategic Plan we announced in March."
Download full press release:
https://www.mairetecnimont.com/media/filer_public/c2/1c/c21c273f-ba4b-47e8-a35d-795a8023b57d/pr_26_maire_q1_2024_results_24042024_nis.pdf
- Revenues of €1.3 billion (+31.9%)
- EBITDA of €82.1 million (+41.6%) with a margin increased from 6.1% to 6.5%
- Net income of €46.6 million (+77.7%)
• Excellent performance of Sustainable Technology Solutions, generating revenues of €76.8 million (+35.8%) and EBITDA of €19.5 million (+65.2%), with a margin increased from 20.9% to 25.4%
• Strong growth of Integrated E&C Solutions, generating revenues of €1.2 billion (+31.7%) and EBITDA of €62.6 million (+35.5%), also thanks to the contribution of the Hail and Ghasha project, which is progressing according to project's schedule
• Adjusted Net Cash Position of €352.0 million, up €14.2 million compared to the end of 2023, net of €8.7 million capex and €21.0 million share buy-back program
• Order intake at €1.3 billion, contributing to a solid backlog of €15.3 billion, up €278.4 million compared to the end of 2023
• Hired 568 new professionals, of which 108 women, to support execution capability while enhancing diversity and inclusion
• Signed binding agreements for the acquisition of HyDEP and GasConTec, which will support the expansion of NEXTCHEM's technology offering
• Distributed a dividend of €0.197 per share, up 59% from 2023, for a total amount of €63.5 million, with payment on today's date
• 2024 Guidance confirmed for all economic and financial KPIs
Milan, 24 April 2024 - The Board of Directors of MAIRE S.p.A. ("MAIRE" or the "Company") met today to review and approve the Group's Interim Financial Report as of 31 March 2024.
Alessandro Bernini, Chief Executive Officer of MAIRE, commented:
"We are pleased with the first quarter results we presented today: we continue to achieve a double-digit growth in the main indicators, thanks to a steady project execution and an increasing contribution from high value-added solutions. We also keep enhancing our technology offering to support industry decarbonization, including the acquisitions of HyDEP and GasConTec, which we expect to complete in the next weeks. The robust market demand in the downstream segment and the sizeable commercial opportunities - some of which we are confident could be finalized in the next weeks - will provide a solid foundation to the Group's growth in the years to come, in line with the Strategic Plan we announced in March."
Download full press release:
https://www.mairetecnimont.com/media/filer_public/c2/1c/c21c273f-ba4b-47e8-a35d-795a8023b57d/pr_26_maire_q1_2024_results_24042024_nis.pdf
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