Thyssenkrupp Nucera expects operating loss in 2024 on start-up costs (updated)

thyssenkrupp nucera AG & Co KgaA

18/12/2023 06:35

(Recasts)
       FRANKFURT, Dec 18 (Reuters) - Thyssenkrupp Nucera
 NCH2.DE , which makes electrolysers needed to produce green
hydrogen, expects an operating loss in its 2024 fiscal year,
citing start-up costs for the division it expects will account
for most of its growth in the future.
        The company, which was listed in one of Europe's biggest
IPOs this year, said it expects a loss before interest and tax
in the mid double digit million euro range, compared with an
LSEG estimate for a 22.8 million euro ($25 million) loss.
  
        Sales in the year to Sept. 30 are expected to grow by a
mid double-digit percentage from the 653 million generated in
2022/23, the group said, in line with the 51% LSEG average
growth forecast.
  
        Operating profit will primarily be burdened by costs
associated with the group's alkaline water electrolysis, the
part of its business that investors are most keen on due to the
fact that it can be scaled up quickly.
  
        Thyssenkrupp Nucera, which competes with Norway's Nel
 NEL.OL , Britain's ITM Power  ITM.L , France's McPhy Energy
 MCPHY.PA  and U.S. company Plug Power  PLUG.O , said its order
intake more than halved to 613 million in 2022/23.
  
        
  
($1 = 0.9163 euros)

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