thyssenkrupp Nucera Surpasses Market Expectations Despite Green Hydrogen Market Uncertainty
Key Ideas
- thyssenkrupp Nucera exceeded market expectations in the third quarter of fiscal year 2023/2024, with a 26% increase in sales to EUR 236 million.
- Despite uncertainties in the green hydrogen market, the company maintains its sales and earnings forecast for the current fiscal year.
- The alkaline water electrolysis business's forecast for the 2024/2025 financial year is not being maintained due to ongoing market uncertainties.
- The company remains optimistic about its long-term prospects in the green hydrogen sector and plans to continue capitalizing on growth opportunities.
thyssenkrupp nucera, a global leader in electrolysis technology, has reported strong business performance in the third quarter of fiscal year 2023/24, exceeding market expectations. The company's sales increased by 26% to EUR 236 million, while earnings before interest and taxes (EBIT) reached EUR 1 million. Despite challenges in the green hydrogen market, thyssenkrupp nucera confirms its sales and earnings forecast for the current fiscal year but will not maintain the forecast for the alkaline water electrolysis business in the next financial year due to ongoing uncertainties. CEO Dr. Werner Ponikwar acknowledged regulatory and funding uncertainties impacting the market but emphasized the company's commitment to capital market communication. CFO Dr. Arno Pfannschmidt expressed confidence in the company's long-term prospects despite delays in new projects. thyssenkrupp nucera will reveal its third-quarter business performance on August 13, 2024, along with the forecast for the 2024/25 financial year.
Topics
Electrolyzer
Business Model
Financial Performance
Forecasting
Earnings
Electrolysis Technology
Market Uncertainty
Latest News