The Board approves Q1 2024 Consolidated Results

THE BOARD OF DIRECTORS APPROVES Q1 2024 CONSOLIDATED RESULTS

Robust profitability, EBITDA adj margin at 19%, supported by Electrode Technologies Business (26.9%)

Backlog +8% vs. 31 December 2023

Pools division: 27% sequential revenue recovery from fourth quarter 2023

330 MW of technologies for green hydrogen realized

Revenues: euro 189.1 million (euro 216.9 million in Q1 2023)

Adjusted EBITDA¹: euro 35.9 million (euro 46.7 million in Q1 2023)

Net Profit: euro 18.0 million (euro 25.0 million in Q1 2023)

Positive Net Financial Position of euro 9.4 million (euro 10.1 million in Q1 2023)

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THE BOARD OF DIRECTORS HAS APPOINTED ANNA CHIARA SVELTO, NON-EXECUTIVE AND INDEPENDENT DIRECTOR

¹ Adjusted Gross Operating Margin (EBITDA) excludes non-recurring items of approximately euro 475 thousand, mainly related to termination costs.