Thyssenkrupp Nucera sees lower 2026 sales on 'more challenging' hydrogen market

thyssenkrupp nucera AG & Co KgaA

24/11/2025 20:27

.

FRANKFURT, Nov 24 (Reuters) - Electrolyser maker Thyssenkrupp Nucera NCH2.DE on Monday forecast sharply lower sales for 2026, saying the market for green hydrogen has become more challenging and investors continued to delay investment decisions as a result.

The supplier of electrolysis plants for green hydrogen production, majority-owned by Germany's Thyssenkrupp TKAG.DE, expects sales of 500 million to 600 million euros ($576 million to $691 million) in the fiscal year that started in October, it said in a statement.

This is a drop of as much as 41% compared to the 845 million euros generated in the past fiscal year and significantly below the 757 million euros forecast by LSEG.

"The situation on the market for green hydrogen became even more challenging in the reporting year," CEO Werner Ponikwar said in a statement ahead of final full-year results scheduled for December 17.

"Restraint in final investment decisions continues. In addition, the global economic environment deteriorated. To bridge this phase, we have taken proactive measures," he said without elaborating.

On an operating level, the group forecast a range between a loss of as much as 30 million euros to break even at best in 2026 - compared with 2 million euros in 2025 - also falling short of the 9.3 million LSEG estimate.

Frankfurt-listed shares NCH2.F in the group were 5.5% lower on the news at 1947 GMT.

($1 = 0.8678 euros)

 (Reporting by Christoph Steitz; Editing by Richard Chang)

 ((christoph.steitz@thomsonreuters.com; +49 30 220 133 647))