thyssenkrupp nucera Q3 order intakes up 13%
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thyssenkrupp nucera Q3 order intakes up 13%

Significant increase in order intake at thyssenkrupp nucera in third quarter of fiscal 2022/2023

  • By ICN Bureau | September 02, 2023

thyssenkrupp nucera remained on growth track in the third quarter of the current fiscal year 2022/2023. Order intake in the third quarter increased by 13 percent year-on-year to €242 million (prior-year period: €215 million).

Mainly due to increasing demand for the latest generation of environmentally friendly chlor-alkali electrolysis solutions from thyssenkrupp nucera, order intake almost doubled to €214 million (prior-year period: €112 million).

In the area of alkaline water electrolysis for industrial-scale applications, order intake reached €28 million. Demand for production capacities remains very high. This is demonstrated, for example, by the conclusion of a contract with H2 Green Steel and a further capacity reservation in the high three-digit megawatt range for a project in North America. For the first large-scale green steel mill in Europe, the electrolysis specialist is supplying one of Europe’s largest water electrolysis plants with an installed capacity of more than 700 MW.

However, the contract with H2 Green Steel published in May 2023 is initially only included in order intake as of the end of June with a low double-digit million-euro amount and therefore less than 10 percent of the contractually agreed total volume. Once further conditions have been met, the project’s remaining and significantly more significant part is expected to be included in order intake in two phases over the next few quarters. The development of order intake in the corresponding prior-year period (€103 million) was characterized by the major order for the facility in the port of Rotterdam.

Cumulative order intake in the first nine months of the 2022/2023 reporting year reached around €535 million. It was, therefore, as expected, below the record level of the comparative period 2021/2022 (€1,218 million), which was characterized in particular by the world’s largest green hydrogen project to date in the gigawatt power range in Saudi Arabia.

“The long-term trend toward large-volume use of green hydrogen as an energy carrier in energy-intensive industries worldwide is intact. We are strategically well positioned for this with our highly efficient water electrolysis technology − and are working diligently to improve our technology, production further and expand our capacities. Our success is reflected in our performance so far this fiscal year,” says Dr. Werner Ponikwar, CEO of thyssenkrupp nucera AG & Co. KGaA.

thyssenkrupp nucera expects continued strong sales growth in the current fiscal year 2022/2023 (subject to limited reliable planning due to economic and geopolitical uncertainties), driven above all by the execution of existing customer orders. Expenses for the necessary organizational measures to meet the strong medium- and long-term growth in demand for the water electrolysis plants for producing green hydrogen on an industrial scale are expected to weigh on EBIT margin.

“thyssenkrupp nucera is well on track. 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,” says Dr. Arno Pfannschmidt, CFO of thyssenkrupp nucera AG & Co. KGaA.

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