Thyssenkrupp Nucera Q3 revenue falls as green hydrogen sales drop

thyssenkrupp nucera AG & Co KgaA

12/08/2026 06:12

Overview
Germany electrolysis technology firm's Q3 sales fell 21% yr/yr as green hydrogen sales dropped
Q3 EBIT turned negative; earnings after taxes improved to break-even
Company cut full-yr sales and EBIT outlook after discontinuing SOEC mass production plans

Outlook
Company now sees 2025/2026 order intake between EUR 550 mln and EUR 670 mln, down from EUR 550 mln-EUR 850 mln
Company expects 2025/2026 group sales of EUR 450 mln-EUR 500 mln, previously EUR 450 mln-EUR 550 mln
Company sees 2025/2026 group EBIT at EUR –105 mln to EUR –75 mln, previously EUR –80 mln to EUR –30 mln

Result Drivers
ORDER INTAKE GROWTH - Q3 order intake rose 29% yr/yr, driven by a major green hydrogen contract and strong Chlor-Alkali business
CHLOR-ALKALI SEGMENT - Strong sales and order intake in Chlor-Alkali segment, supported by growth in new build and service business, including timing-related pull forward effects
COST MANAGEMENT - Improved gross margin and proactive cost management nearly fully offset lower sales volume, limiting decline in EBIT

Company press release: ID:nEQ2D38qqa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
EUR 145 mln
EUR 112 mln (1 Analyst)
Q3 EPS
 
EUR 0
 
Q3 EBIT
 
-EUR 2 mln
 
Q3 Orders
 
EUR 81 mln
 
Q3 Pretax Profit
 
EUR 1 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the construction & engineering peer group is "buy"
Wall Street's median 12-month price target for thyssenkrupp nucera AG & Co KgaA is €9.10, about 13.1% above its August 11 closing price of €8.05
The stock recently traded at 227 times the next 12-month earnings vs. a P/E of 431 three months ago

Reuters Recommended Reads
Aug 11 - Thyssenkrupp Nucera cuts fiscal 2026 outlook after abandoning SOEC stack production plans
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Aug 11 - Energy Vault Q2 revenue jumps 104% on progress in Australia battery projects

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)