thyssenkrupp nucera has shown growth in its alkaline water electrolysis (AWE) business in the second quarter and first half of the 2023/2024 fiscal year.
thyssenkrupp nucera has made significant strides in implementing its growth strategy and completing customer projects. Notably, the company has initiated preparatory work for commissioning CF Industries’ water electrolysis plant in Louisiana, USA, which will soon produce green hydrogen on an industrial scale. Additionally, strategic partnerships with organizations like Fraunhofer IKTS and selection by the US Department of Energy reflect the company’s commitment to innovation and expansion.
The company’s engagement in major projects globally underscores its growing influence in the hydrogen market. Contracts with industry leaders such as Cepsa in Spain and ABEL Energy in Australia demonstrate thyssenkrupp nucera’s ability to cater to diverse market needs. However, delays in final investment decisions by potential customers and the postponement of critical projects have hindered the company’s order intake momentum.
thyssenkrupp nucera witnessed a substantial increase in sales, primarily driven by its electrolysis plants for green hydrogen production. While sales in the AWE segment surged significantly, there was a decline in the chlor-alkali (CA) business. Despite higher expenses associated with growth strategies and a lower gross margin, the company maintained a strong financial position, albeit with negative earnings before interest and taxes (EBIT).
Looking ahead, thyssenkrupp nucera remains optimistic about the growth potential of the green hydrogen market. With a robust financial position and efficient electrolysis technology, the company expects incoming orders to rebound strongly. The confirmed sales and earnings forecast for the fiscal year 2023/2024, along with specified sales expectations, reflect the company’s confidence in its ability to capitalize on market opportunities.
