Thyssenkrupp Nucera Foresees 2024: Thyssenkrupp Nucera, a key player in green hydrogen technology, anticipates an operating loss in its 2024 fiscal year, citing start-up expenses related to the division crucial for its future growth.
The company, which witnessed one of Europe’s significant IPOs this year, projects a loss before interest and tax (EBIT) in the mid-double-digit million euro range, deviating from LSEG’s estimate of a €22.8 million ($25 million) loss. The EBIT is primarily attributed to the costs associated with alkaline water electrolysis, a segment investors are closely monitoring due to its potential for rapid scalability.
Despite a more cautious market approach, reflected in the company’s shares declining by over a third since its post-IPO peak in July, Thyssenkrupp Nucera remains optimistic about green hydrogen technology. This optimism aligns with global efforts to reduce emissions, as electrolyzers, powered by renewable energy, play a crucial role in separating hydrogen from water, offering an eco-friendly alternative in hard-to-decarbonize industries.
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Competing with notable players like Nel, ITM Power, McPhy Energy, and Plug Power, Thyssenkrupp Nucera’s order intake experienced a decline of more than half, dropping to €613 million in the 2022/23 period. However, the company surpassed expectations in its EBIT, nearly tripling to €23.8 million in the same fiscal year, exceeding the LSEG analysts’ survey estimate of €16.5 million.
The company remains resilient in its growth projections, expecting sales for the year ending September 30 to witness a mid-double-digit percentage increase from the €653 million generated in 2022/23. This outlook aligns with the growth forecast of 51% by analysts polled by LSEG, indicating continued confidence in the potential of green hydrogen technology despite the current challenges and market dynamics.