Thyssenkrupp Nucera, the hydrogen-focused subsidiary of the German industrial giant Thyssenkrupp, marked a robust performance in the past fiscal year, reporting significant growth in sales and earnings.
The company, which made its Frankfurt market debut in July, revealed impressive figures for the year through September.
Sales experienced a remarkable 70% surge, reaching €652.8 million ($712.7 million). Thyssenkrupp Nucera’s earnings before interest and taxes (EBIT) also witnessed a substantial increase, rising from €8.8 million to €23.8 million. The final quarter proved particularly fruitful, with a 47% increase in sales compared to the same period the previous year.
The net income after taxes more than tripled, reaching €22.5 million, a notable ascent from the previous year’s €6 million.
Looking ahead, Thyssenkrupp Nucera remains optimistic about the 2023-24 fiscal year, forecasting sales growth in the mid double-digit percentage range. The company’s positive outlook is grounded in its expertise and focus on alkaline water electrolysis—a key technology for climate-neutral hydrogen production.
Thyssenkrupp Nucera specializes in alkaline water electrolysis, a process where water is split into its components—hydrogen and oxygen—using electricity. Notably, if the electricity used is generated in a climate-neutral manner, such as through wind turbines or solar cells, the resulting hydrogen is termed “green,” emphasizing its environmentally friendly production.
The company’s portfolio also extends to chloralkali electrolysis, considered a more conventional aspect of its business. These plants produce chlorine, used for purifying drinking water and serving as a foundational material for chemical companies.