Danieli Group
Business

Industrial machinery giant Danieli Group reports robust growth in net profit (+33%)

Danieli Group, a global leader in industrial machinery manufacturing, has announced a significant surge (+33%) in net profit for the semester, alongside an increase in operating revenues (to 2.072 billion euros) and equity (2.481 billion euros). The half-yearly financial statement was approved on 7 March 2024 by the Group’s Board of Directors, convened in Buttrio, Italy.

As emphasized in a statement issued after the meeting, the Group’s net profit has surged by 33%, reaching 98.8 million euros compared to 74.1 million in the same period of 2022. The financial statement highlights an 11% increase in operating revenues (from 1.865 billion to 2.072 billion euros) and a 10% rise in gross operating margin, reaching 160.6 million from 145.5 million euros.

Additionally, the Group’s operating profit has grown by 6% (from 85 million to 90.4 million euros), while net financial position (from 1.602 billion to 1.666 billion euros; +4%) and equity (from 2.407 billion to 2.481 billion euros, +3%) have also seen positive growth. Danieli Group’s order backlog remains well diversified geographically and by product line, amounting to 6.034 billion euros. The Group’s workforce has increased by 322 employees, from 9,732 to 10,054.

During the semester, there has been a decline in profitability in steel production, offset by an improvement in the design and supply of Danieli steelmaking plants, which are leading in green steel production technologies. The Group also anticipates no significant changes in current trends over the next six months, enabling to confirm its budget closing forecasts for both this year and the next.

After the meeting, Danieli Group took the opportunity to emphasize “the Group’s condemnation of all ongoing conflicts, especially the one between Russia and Ukraine, which is causing severe consequences in Europe in terms of destruction, loss of human lives, and economic losses. Danieli Group expresses hope for a swift and fair resolution to bring an end to these conflicts”.

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