(Alliance News) - Maire Tecnimont Spa reported Wednesday that it closed the first half of the year with a profit of EUR97.0 million, up from EUR54.0 million in the same period a year earlier.

Revenues amounted to EUR2.62 billion, up 34 percent from EUR1.97 billion in the first half of 2023, thanks to the steady progression of ongoing projects, including the advancement of engineering and procurement activities on the Hail and Ghasha project.

Ebitda increased to EUR170.4 million from EUR120.9 million in the same period of 2023, up 40%.

Ebit is EUR139.7 million, up 47 percent from EUR1 in the first half of the previous year.

Adjusted net cash and cash equivalents of EUR357.5 million up EUR19.6 million from the end of 2023, net of dividends of EUR63.5 million and the buy-back program of EUR47.3 million.

The company also reported new orders of EUR3.4 billion consolidating a backlog of EUR16.3 billion, up EUR1.3 billion from December 31, 2023.

The company then confirmed guidance for the full year 2024.

Maire gives up 2.7 percent to EUR7.45 per share.

By Chiara Bruschi, Alliance News reporter

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