Danieli & C Officine Meccaniche (DAN) H1 2025 earnings summary

Executive summary

• Six-month period ended 31 Dec 2024 saw revenues of €2,000.5m, down 3% year-over-year, but net profit attributable to the Group rose 27% to €125.1m.

• EBITDA increased 2% to €163.3m, with strong performance in Plant Making offsetting Steel Making weakness.

• Net financial position remained robust at €672.9m (adjusted), up 1% from June 2024.

• Group order book at €5,388m, not including a major €1bn contract expected to commence in May 2025.

• Danieli continues to invest in green steel technologies and innovation, maintaining global leadership in plant making.

Financial highlights

• Revenues declined 3% year-over-year to €2,000.5m; EBITDA up 2% to €163.3m.

• Operating income rose 20% to €108.5m; net profit from continued operations up 31% to €125.1m.

• Total shareholders' equity increased 5% to €2,760.5m.

• Adjusted net financial position at €672.9m, up from €663.8m in June 2024.

• Number of employees decreased 2% to 10,128 at period end.

Outlook and guidance

• Plant Making margins expected to remain strong; Steel Making margins projected to recover in H1 2025 as energy costs decline.

• Group forecasts for FY 2024/25 confirmed, with potential for further improvement in FY 2025/26.

• Steel market outlook for 2025 is positive, with rising prices and volumes anticipated.