(Reuters) -Italy's Industrie De Nora said on Tuesday its adjusted core profit rose 15.9% to 124.4 million euros ($145.1 million) in the first nine months of 2025, as the electrochemical group raised
De Nora Pursues Water Technology Acquisition, Upgrades Profit Outlook
De Nora's Growth Strategy in Water Technology
By Francesca Landini and Laura Contemori
Financial Performance and Profit Margin
MILAN (Reuters) -Italy's Industrie De Nora is exploring options to grow its water technology business and may announce an acquisition by year-end, its chief executive said on Tuesday after the electrochemical group reported nine-month results.
Upcoming Projects and Deliveries
"We have concrete (M&A) projects and hope to be able to announce something by the end of this year," De Nora's Paolo Dellacha told Reuters.
Electrolysers for Green Steel
De Nora, a global leader in industrial electrodes, also supplies equipment and solutions for water disinfection and filtration.
NEOM Green Hydrogen Project
The group reported a 15.9% year-on-year increase in adjusted earnings before interest, taxes, depreciation and amortisation, which reached 124 million euros ($145 million), driven by a strong performance in its water technology business.
The company raised its full-year core profit margin guidance to around 19%, up from a previous forecast of 17–18%.
The improved outlook on profitability sent De Nora's shares soaring more than 19%, before closing with a 17% gain on the Milan stock exchange.
On the operational front, De Nora expects to complete delivery of electrolysers to Sweden's troubled green steel startup Stegra by year-end, Dellacha said, and he expressed confidence in receiving payment.
"For us, the project will be completed, invoiced, and paid for in a month and a half," he told Reuters, noting that the payment will come via Germany's Nucera.
De Nora also completed delivery of electrolyser components in August for the NEOM green hydrogen project in Saudi Arabia.
($1 = 0.8575 euros)
(Reporting by Laura Contemori in Gdansk; Editing by Milla Nissi-Prussak and Gavin Jones)
