Finance
Italy's Maire set to increase 2025 guidance after good first-quarter results
Published by Global Banking and Finance Review
Posted on April 29, 2025
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Published by Global Banking and Finance Review
Posted on April 29, 2025
By Alberto Chiumento
(Reuters) -Italian engineering group Maire will increase its 2025 guidance on the back of its solid performance in the first quarter, but the size of the increase is still being determined, CEO Alessandro Bernini said in a post-results conference call on Tuesday.
"I don't want to influence inappropriately the market. We can say that we have all the elements already in our hands, but the precise indication will be provided only in a couple of months' time," Bernini said.
As energy companies tackle decarbonisation and energy security challenges, Maire is set to benefit from increased investments in sustainability.
He said that Maire was not impacted by any trade tariffs, nor is it likely to be in the future. The depreciation of the U.S. dollar is not a source of concern for the company, he added.
The company reported a 38.2% year-on-year rise in first-quarter core profit, citing higher revenue and the efficient management of costs.
Core profit in the first three months of the year rose to 113.5 million euros ($129.2 million), while its profit margin widened by 10 basis points to 6.6%.
Revenue reached 1.71 billion euros compared with 1.26 billion euros in the year-earlier period.
The group also confirmed its 2025 guidance, which includes annual revenue in the range of 6.4 billion to 6.6 billion euros and core profit of between 420 million and 455 million euros.
Order intake in the first quarter totalled 3.5 billion euros, leading to a backlog of 15.4 billion euros, up 1.6 billion euros from the end of 2024.
Maire's shares closed Tuesday's session 11.6% higher, also benefiting from the announcement of new orders from Southern Europe and Central Asia worth 900 million euros.
($1 = 0.8788 euro)
(Reporting by Alberto Chiumento in Gdansk; Editing by Milla Nissi, Kirsten Donovan and Matthew Lewis)