Industry - Thyssenkrupp Nucera grows: hydrogen business picks up
Electrolysis specialist Thyssenkrupp Nucera grew strongly in the past financial year thanks to the ramp-up of its hydrogen business. Sales in 2022/23 (as of the end of September) increased by 70 percent to 652.8 million euros, as the subsidiary of industrial group Thyssenkrupp announced in Dortmund on Monday. Earnings before interest and taxes (EBIT) increased from 8.8 million to 23.8 million euros. At the bottom line, Thyssenkrupp Nucera also earned a multiple of 22.5 million euros, up from six million euros in the previous year. The company also benefited from a good final quarter.
The electrolysis specialist announced further sales growth in the mid double-digit percentage range for the new 2023/24 financial year. However, the ramp-up of the hydrogen business with major investments will have a negative impact on earnings, as the company explained. Thyssenkrupp Nucera expects an operating loss (EBIT) in the mid double-digit million euro range.
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- Thyssenkrupp, a prominent company based in North Rhine-Westphalia, Germany, saw significant growth in its hydrogen business during the last financial year, contributing to the increased turnover of its subsidiary, Thyssenkrupp Nucera.
- The hydrogen industry in Germany has seen a boost, with Thyssenkrupp's Dortmund-based subsidiary, Thyssenkrupp Nucera, experiencing a 70% turnover increase in the 2022/23 financial year.
- Despite anticipating continued sales growth in the hydrogen business for the upcoming 2023/24 financial year, Thyssenkrupp's subsidiary, Thyssenkrupp Nucera, in North Rhine-Westphalia, Germany, expects a mid-double-digit million euro loss due to the substantial investments required for the ramp-up.
Source: www.stern.de
