Danieli & C Officine Meccaniche (DAN) H2 2025 earnings summary

Executive summary

• Revenues decreased by 3% year-over-year to €4,200 million, with net profit down 9% to €220.1 million.

• EBITDA rose 12% to €437.8 million, and operating income increased 37% to €303.1 million compared to the previous year.

• Plant Making segment delivered strong margins and growth, while Steel Making faced losses due to high energy costs and lower volumes.

• The order book remains robust at €5,384 million, supporting a positive outlook for 2025/2026.

Financial highlights

• Gross operating margin (EBITDA) increased to €437.8 million (+12% YoY).

• Operating income rose to €303.1 million (+37% YoY).

• Net profit attributable to the Group was €220.1 million, down 9% YoY.

• Adjusted net financial position improved to €688.9 million (+4% YoY).

• Total shareholders’ equity increased by 5% to €2,760.5 million.

Outlook and guidance

• Positive results expected for 2025/2026, with Plant Making margins stable or improving and Steel Making margins recovering as energy costs normalize.

• Sales guidance for 2025/2026: €4,200–4,300 million; EBITDA: €430–450 million; adjusted net cash: €700–800 million; order book: €5,700–6,000 million.

• Steel Making volumes expected to grow slightly with improved efficiency and margins.