Thyssenkrupp Nucera Reports Strong Sales Growth in 2023/24

Thyssenkrupp Nucera AG & Co. KGaA announced robust sales growth and slightly better-than-expected earnings for Q4 and FY 2023/24. The company's performance benefited from a strong increase in sales related to alkaline water electrolysis (AWE) and a resilient profitability.

In Q4, AWE sales reached an all-time high, doubling year-on-year, marking significant progress in project execution. While EBIT was down compared to the previous year, it surpassed expectations despite planned ramp-up costs and lower gross margins due to increased AWE sales. Strong margins in the Chlor-Alkali (CA) business partially offset these impacts.

For FY 2023/24, order intake slightly surpassed the previous year, driven by the AWE project in Sweden. The company's sales guidance was met, with increased sales resulting mainly from AWE projects in Saudi Arabia and Sweden. EBIT, though declined, was still better than forecasted due to the successful CA business supporting green hydrogen expansion.