Nucera sees Q3 sales almost double, targets further growth

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBERLIN - Thyssenkrupp Nucera on Monday reported strong growth in sales and operating income in its third quarter but warned that investment in plants for producing green hydrogen could weigh on earnings over the 2022/23 financial year.

Reporting its first financial results since a blockbuster market debut in July, the German hydrogen firm said sales grew by 90% year on year to 187.5 million euros. Earnings before interest and taxes rose 59% to reach 7 million euros. "With the pleasingly high cash inflow from the IPO we are well equipped for the systematic and rapid implementation of the next steps in our growth strategy," said finance chief Arno Pfannschmidt.

Nucera said it expected existing orders to drive continued strong sales growth in its current fiscal year. However, necessary spending in water electrolysis plants for producing green hydrogen on an industrial scale was expected to weigh on the company's EBIT margin, which came in at 3.7% in the third quarter, down from 4.4% a year prior.

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