Italy's De Nora cuts 2025 sales guidance on expected lower pricing, shares drop

ROME, March 23 (Reuters) - Italy's Industrie De Nora (DNR.MI) cut its guidance on revenues for 2025 as lower metals and technology costs are expected to hit final prices, the electrode maker said on Thursday, pushing shares down as much as 8%.

Under the updated plan, the company now forecasts consolidated revenues of between 1.35-1.5 billion euros ($1.47-1.64 billion) from a previous 1.5-1.7 billion euros, citing an expected reduction in the cost of noble metals used in green hydrogen generation technologies.

However, De Nora raised its guidance on 2025 adjusted core profits to a range of 250-280 million euros, with a profitability of between 18-20%, adding that net financial position is expected to be positive at the end of the period, excluding potential M&A transactions.

Its previous forecast was for adjusted core profit of 230-270 million euros.

De Nora, which posted a solid 2022 set of figures and proposed to distribute a dividend of 0.12 euros per share, also unveiled its guidance for this year.

It sees 2023 sales rising to between 900-950 million euros, supported by the development of the Energy Transition division, and adjusted earnings before interests, taxes, depreciation and amortization (EBITDA) of 175-185 million euros.

The group, which listed in Milan last June, is a leading manufacturer of electrodes for devices such as rechargeable batteries and also makes systems for water filtration and wastewater treatment as well as components to produce green hydrogen.

($1 = 0.9170 euros)

Reporting by Francesca Piscioneri, editing by Federico Maccioni

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