TREVI - Finanziaria Industriale (TFIN) Q3 2024 earnings summary

Executive summary

• New orders acquired reached €450.1 million in the first nine months of 2024, matching the prior year.

• Order backlog at September 2024 was €770 million, up 29% year-over-year and 7% from December 2023.

• Business performance and order intake are in line with 2024 forecasts.

Financial highlights

• Net financial debt at September 2024 was €221.3 million, up from €207.7 million at June 2024.

• Trevifin's standalone net financial debt was €96.9 million at September 2024.

• Decrease in cash and cash equivalents by €9.8 million and increase in financial debt by €6 million from June to September 2024.

• Overdue payables at September 2024: €2.0 million for Trevifin and €37.0 million for the Group, with no supplier injunctions or supply issues.

Outlook and guidance

• Full-year 2024 revenue expected between €639 million and €665 million.

• Recurring EBITDA forecasted between €76 million and €82 million.

• Net financial debt projected between €210 million and €225 million.

• October 2024 business performance continued positively and in line with forecasts.