Thyssenkrupp Nucera Reports Robust Q3 Amid Green Hydrogen Market Uncertainty

Thyssenkrupp Nucera exceeded market expectations for the third quarter of the 2023/2024 fiscal year. The company's sales grew by 26% to EUR 236 million, up from EUR 188 million in Q3 2022/23. However, EBIT fell to EUR 1 million from EUR 7 million year-on-year.

The firm maintains its forecast for the current fiscal year, expecting sales between EUR 820-900 million and EBIT in the negative mid-double-digit million euro range. The sales forecast for its alkaline water electrolysis (AWE) business remains between EUR 500-550 million.

Despite strong quarterly results, uncertainties in the green hydrogen market persist. Regulatory and funding challenges have delayed customer projects, prompting Thyssenkrupp Nucera to withdraw its sales and earnings forecast for the AWE business for the 2024/2025 financial year.

CEO Dr. Werner Ponikwar noted the ongoing regulatory issues but reaffirmed the company's long-term prospects. CFO Dr. Arno Pfannschmidt emphasized the company's resilience and commitment to exploiting opportunities in the green hydrogen growth market.