Thyssenkrupp, TK Nucera slide on lower than expected results and forecasts

thyssenkrupp nucera AG & Co KgaA

15/05/2024 07:52

** Shares in German submarine-to-steel group Thyssenkrupp
 TKAG.DE  are down 3.9% in early Frankfurt trade after it cut FY
forecasts for the second time in three months
    ** It sees FY 2023/24 sales below the prior year's level of
EUR 37.5 bln ($40.6 bln) vs LSEG estimate of EUR 36.1 bln
    ** It guides for FY loss in a low triple-digit mln euros
range, vs loss of EUR 203 mln expected by analysts
    ** "Sobering report again will probably feed the bears," a
local trader says
    ** Shares in Thyssenkrupp Nucera  NCH2.DE  also fall 4.8%
after the maker of electrolysers posted lower-than-expected Q2
results and gave FY sales outlook below estimates
    ** The German hydrogen firm's Q2 sales were EUR 168 mln,
compared to LSEG forecast of EUR 186 mln
    ** Nucera sees FY revenue of EUR 820-900 mln vs LSEG
estimates of EUR 974 mln

($1 = 0.9240 euros)

 (Reporting by Amir Orusov and Anastasiia Kozlova)
 ((Amir.Orusov@thomsonreuters.com;
Anastasiia.Kozlova@thomsonreuters.com))