Thyssenkrupp Nucera AG & Co. KGaA Exceeds Market Expectations Amid Green Hydrogen Market Uncertainties
Key Ideas
  • Thyssenkrupp Nucera AG & Co. KGaA's sales grew by 26% to EUR 236 million in the third quarter of 2023/2024 fiscal year, exceeding market expectations.
  • However, EBIT fell to EUR 1 million from EUR 7 million year-on-year, reflecting challenges despite the sales growth.
  • The company maintains its sales forecast between EUR 820-900 million, with uncertainties in the green hydrogen market leading to the withdrawal of AWE business forecast.
  • CEO and CFO highlighted the regulatory and funding challenges in the green hydrogen market but expressed commitment to long-term prospects and growth opportunities.
Thyssenkrupp Nucera AG & Co. KGaA has surpassed market expectations in the third quarter of the 2023/2024 fiscal year with a notable 26% sales growth to EUR 236 million. Despite this positive sales trend, the company faced a decline in EBIT to EUR 1 million from EUR 7 million year-on-year, indicating challenges in profitability. The firm maintains its sales forecast for the current fiscal year within the range of EUR 820-900 million, while the EBIT is expected to be in the negative mid-double-digit million euro range. Nevertheless, uncertainties in the green hydrogen market have led to the withdrawal of sales and earnings forecast for the AWE business in the 2024/2025 financial year. CEO Dr. Werner Ponikwar acknowledged the regulatory and funding challenges that have affected customer projects but remained optimistic about the company's long-term outlook. CFO Dr. Arno Pfannschmidt echoed this sentiment by emphasizing the company's resilience and dedication to capitalizing on opportunities in the growing green hydrogen sector.
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