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

thyssenkrupp nucera AG & Co KgaA

18/11/2024 17:00

FRANKFURT, Nov 18 (Reuters) - Hydrogen group
Thyssenkrupp Nucera  NCH2.DE  on Monday said its full-year
operating performance was slightly better than expected, saying
lower margins in the sector hit by investor caution had been
partly offset by cost cuts.
    In its trading statement ahead of full-year results, the
company, in which Germany's Thyssenkrupp  TKAG.DE  owns a
majority, said earnings before interest and tax (EBIT) had been
slightly better than expected.
    Thyssenkrupp Nucera, which along with other electrolyser
makers has been hit by investor reluctance over uncertain
regulation for hydrogen, provided no actual figures in its
trading statement.
    The group had previously expected a loss before interest and
tax in the mid double-digit million-euro range.
    According to LSEG estimates, Thyssenkrupp Nucera's EBIT loss
is expected at 30 million euros ($31.7 million) for the
financial year that ended in September.
    Order intake in the fiscal year was higher than in the prior
year, when the group achieved 613 million euros, Thyssenkrupp
Nucera said, adding it had roughly hit the midpoint of its
820-900 million euro sales outlook.
    The group is scheduled to release detailed full-year results
on Dec. 17.
    
($1 = 0.9463 euros)

 (Reporting by Christoph Steitz, Editing by Rachel More)
 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647;))