The electrolysis specialist thyssenkrupp nucera is cautious for the new 2024/25 financial year (end of September).
The market environment remains challenging due to uncertainties regarding the further development of the global economy, the company, which is part of the thyssenkrupp industrial group, announced on Tuesday in Dortmund. For the current financial year, the board expects, in the worst case scenario, that the group will slip even further into the operational loss zone with minus 30 million euros than before. In the best case scenario, there should be a small profit of 5 million euros. On average, analysts have a low loss on their books.
In the 12 months to the end of September, loss before interest and tax (EBIT) was 14 million euros, following an operating profit of 25 million euros a year earlier. Nucera is currently pouring a lot of money into its hydrogen business, which is weighing on results. Expenditure on research and development almost doubled to 36 million euros. Administrative costs also rose sharply.
The results and the outlook of the electrolysis specialist are largely within the expected range, wrote analyst Erwan Kerouredan from the Canadian bank RBC. The operating loss was better than expected. The shares rose around five percent in early trading.
“The long-term growth prospects of thyssenkrupp nucera remain intact,” said company boss Werner Ponikwar, according to a statement. The group is targeting sales of 850 million to 950 million euros in the current financial year. Of this, the green hydrogen segment is expected to contribute between 450 million and 550 million euros. In the past financial year, group revenues increased by 30 percent year-on-year to 862 million euros. The alkaline water electrolysis (AWE) business made a particular contribution to this – sales there climbed by 60 percent to 524 million euros.
In the current financial year, the company will primarily work on the order backlog and implement the growth strategy, the thyssenkrupp subsidiary also announced. The development of sales and operating profit (EBIT) is predominantly influenced by the execution of projects that have already been contractually agreed. At the end of September, the order backlog was 1.1 billion euros after 1.4 billion euros in the previous year.
The bottom line is that thyssenkrupp Nucea reported a profit of 11 million euros for continuing operations in the last financial year thanks to high interest income. In the previous year the surplus was 24 million euros.
Goldman leaves thyssenkrupp nucera at ‘neutral’ by numbers
The US investment bank Goldman Sachs has left the rating for thyssenkrupp nucera at “neutral” with a price target of 10.50 euros. The operating margin was better than expected, even if the electrolysis specialist is still not profitable, wrote analyst Michele della Vigna in his commentary on Tuesday.
RBC leaves thyssenkrupp nucera at ‘outperform’ by numbers
The Canadian bank RBC has left the rating for thyssenkrupp nucera at “Outperform” with a price target of 22 euros. The results and the outlook of the electrolysis specialist were largely within the expected range, wrote analyst Erwan Kerouredan in his commentary on Tuesday. The operating loss was better than expected.
thyssenkrupp nucera at six-week high according to numbers
The shares of thyssenkrupp nucera continued their recovery at an accelerated pace since the beginning of December on Tuesday. The electrolysis specialist did better than feared with its figures for the 2023/24 financial year and the outlook for the current period.
The shares broke through the sideways range of the past few months below 10 euros and jumped to their highest level in more than five months. Ultimately, they gained over 16 percent to 10.41 euros and were the only ones at the top of the SDAX of smaller German stocks. For the current year, the exchange rate balance is still devastating at minus almost 44 percent. thyssenkrupp Nucera have been practically on the decline since going public in July 2023 and have lost around half of their value since then.
DORTMUND / NEW YORK / FRANKFURT (dpa-AFX)
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