Thyssenkrupp Nucera rises as yearly EBIT beats estimates

thyssenkrupp nucera AG & Co KgaA

18/12/2023 08:59

** Shares in Thyssenkrupp Nucera  NCH2.DE  rise 4.5% after
the maker of electrolysers beat annual EBIT expectations and
forecast sales growth for next year
    ** Its EBIT nearly triples to 23.8 mln euros ($26 mln) in FY
2022/23, exceeding an LSEG analysts' survey estimate of 16.5 mln
    ** Deutsche Bank analysts note Q4 EBIT of 3.5 mln euros was
also clearly ahead of expectations, while quarterly sales came
"a good 10% below consensus"
    ** The company expects "significant", mid-double-digit
percentage growth in sales next year, but says its EBIT will
swing to a loss in a mid-double-digit mln euro range due to
start-up costs
    ** DB says an EBIT loss in the low- to mid-double-digit mln
euro range in FY 2023/24 is "satisfactory"
    ** The broker adds the net financial position of 761 mln
euros makes Thyssenkrupp Nucera "arguably the electrolysis
company with the best balance sheet"

($1 = 0.9157 euros)

 (Reporting by Mateusz Dobrzyniewski)
 ((Mateusz.dobrzyniewski@thomsonreuters.com))