Thyssenkrupp Nucera Confirms Outlook for Fiscal Year 2023/24 but Revises AWE Expectations for 2024/25

Thyssenkrupp Nucera AG & Co. KGaA has confirmed its sales and earnings outlook for the fiscal year 2023/24. Preliminary figures indicate that group sales are expected to range between EUR 820 million and EUR 900 million, up from EUR 653 million in the previous year. EBIT is projected to remain in the negative mid-double-digit million euro range, down from EUR 24 million last year. The company's alkaline water electrolysis (AWE) business is also set to meet its sales outlook of EUR 500 million to EUR 550 million.

However, the company announced that it would not sustain its previously communicated sales and earnings expectations for the AWE business for fiscal year 2024/25 due to ongoing market uncertainties and project delays from customers. Despite these challenges, thyssenkrupp Nucera remains optimistic about long-term development prospects.

Preliminary unaudited figures for the third quarter of 2023/24 showed a 26% increase in group sales, reaching EUR 236 million, compared to EUR 188 million in the same period last year. EBIT for the quarter fell to EUR 1 million from EUR 7 million year-on-year. The full results for the third quarter will be published on August 13, 2024, along with the outlook for fiscal year 2024/25.