Maire celebrates new 1.3 billion orders

Il Sole 24 Ore Radiocor - Purchases at Piazza Affari on Maire, which is celebrating new orders worth €1.3 billion. The engineering group's share price gained ground after the company this morning disclosed new orders and additional work related to previously announced orders with a total value of 1.3 billion, with projects located in Asia, Europe and the Americas, in both the Integrated E&C Solutions and Sustainable Technology Solutions business units.

 In the first case, the new assignments include a large-scale onshore project, to be carried out by Tecnimont, aimed at supporting the optimisation of existing oil & gas plants, as well as the modernisation of an existing refinery. In the second busness segment, Stamicarbon, Nextchem's licensing subsidiary, was awarded the licensing and process design package for a urea (fertiliser) plant.

For Intermonte, the news is 'positive' and 'confirms the solid commercial momentum'. With these new contracts, in fact, 'order intake since the beginning of the year should have reached around 6.1 billion, compared to a total of 9 billion expected by 2026'. Despite the stock's high volatility over the past two months due to the group's exposure in the Middle East, the first quarter results showed Maire's ability "to continue to generate growth even in a complex operating environment", experts point out. "We believe that the strong order intake recorded in the year, coupled with the constructive outlook provided by the company, should have reassured investors about the solidity of the business model and Maire's growth potential," write the analysts further, who confirm the positive view on the stock.