Thyssenkrupp nucera: latest business update considered solid

(CercleFinance.com) - thyssenkrupp nucera's share price rose on Tuesday on the Frankfurt stock exchange, following a quarterly trading update that highlighted a rather "resilient" performance from the analysts' point of view.


The German group, which specializes in the design of electrolyzers, reported last night that sales of its strategic alkaline electrolysis (AWE) business doubled in its fourth fiscal quarter, ending September.

Operating profit (Ebit) is expected to be down on the same period last year, but slightly better than forecast, it stressed.

For the 2023/2024 financial year as a whole, nucera's figures should be in the middle of its annual target ranges, which were 820 to 900 million euros for total sales and 500 to 550 million euros for the AWE division.

Its annual Ebit should be higher than forecast, bearing in mind that the Group was initially targeting an operating loss of around 50 million euros.

At a time when the market is going through a difficult period, nucera reported a solid business point," said analysts at RBC in a reaction note.

On the Frankfurt Stock Exchange, the thyssenkrupp nucera share advanced by around 1% following these announcements, after having gained up to 9% in late morning trading, but was still down 53% this year due to the disappointing targets that the group has communicated to the market in recent months.

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