Q1 beat, progress on projects lift thyssenkrupp nucera shares

thyssenkrupp nucera AG & Co KgaA

13/02/2024 08:47

** Shares in thyssenkrupp nucera  NCH2.DE  rise 2%, paring
earlier gains of about 4%, after the German hydrogen company
published on Tuesday record quarterly sales and a
lower-than-feared operating loss
    ** The company posted Q1 sales up 35% at 208 million euros
($224 million), citing rising demand for its electrolyser
technology
        ** Deutsche Bank Research analyst Michael Kuhn notes
that headline numbers came in above estimates with sales beating
expectations by 9% and EBIT loss of EUR 0.9 mln lower than EUR
-3.8 mln seen by consensus 
    ** Kuhn sees the results as a good start to the year,
highlighting that projects are also well on track while pipeline
is growing
    ** Deutsche Bank Research reiterates its "buy" rating on the
stock
    ** thyssenkrupp nucera confirmed its annual outlook of an
operating loss in the mid double-digit million euro range due to
ramp-up costs


 (Eva Orsolya Papp)
 ((evaorsolya.papp@thomsonreuters.com))