Thyssenkrupp: Nucera's operating performance in 2023/24 was better than expected

Thyssenkrupp Nucera, a hydrogen company, said on Monday that its operating performance for the full year was better than expected. It said lower margins due to investor caution in a sector affected by low energy prices had been offset partly by cost reductions.

In its trading statement, which was released ahead of the full-year results to be announced, Thyssenkrupp, a German company, reported that earnings before interest and taxes (EBIT) were slightly higher than expected.

Thyssenkrupp, along with other manufacturers of electrolysers, has been affected by investor hesitation over the uncertain regulation surrounding hydrogen. Its trading statement did not include any actual figures.

The group expected to make a loss of between mid-double-digit millions of euros before interest and taxes.

According to LSEG, Thyssenkrupp's Nucera EBIT loss for the financial period that ended September is expected to be 30 million euros (31.7 million dollars).

Thyssenkrupp Nucera reported that the group's order intake was higher in fiscal year than the previous year when it achieved 613 millions euros. It added that the group had approximately reached the midpoint of their 820-900million euro sales forecast.

The full-year results will be released on December 17.

(source: Reuters)