Thyssenkrupp Nucera Recorded Strong Sales Growth And Slightly Better-Than-Expected Earnings In Q4 And FY 2023/24; Project Execution Well On Track

EQS-News: thyssenkrupp nucera AG & Co. KGaA / Key word(s): Preliminary Results
thyssenkrupp nucera recorded strong sales growth and slightly better-than-expected earnings in Q4 and FY 2023/24; project execution well on track
18.11.2024 / 18:01 CET/CEST
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• Growing order intake driven by Chlor-Alkali (CA) service business; AWE order intake on prior year's level
• Strong year-on-year sales growth due to AWE business; AWE sales doubled in Q4 and thereby reached a new all-time high, reflecting significant progress of projects under execution; CA sales roughly on par with previous year
• EBIT below prior year, but slightly better than expected ; EBIT decline due to planned ramp-up costs and lower gross margin in line with higher AWE sales share, partly offset by strong margins in CA business and cost containment

• Order intake slightly above prior year's level , largely driven by the AWE project with Stegra (H2 Green Steel) in Sweden; CA order intake fell from the previous year's record high, which was supported by the large OxyChem project in the US
• Group sales guidance of 820mn € to 900mn € reached as well as AWE sales target of 500mn € to 550mn €; both sales figures came in roughly in the middle of the range
  • Strong sales increase mostly driven by the dynamic sales growth in the AWE business following ongoing execution of projects, especially in Saudi Arabia and Sweden
  • CA sales slightly above prior year's level
• EBIT slightly better than originally expected (guidance: negative EBIT figure in mid double-digit mn € range)
  • Significant year-on-year EBIT decline mainly due to the planned organizational ramp-up and AWE capacity build-up, higher R&D expenditures as well as the increased share of AWE sales, which is currently still accompanied by lower gross margins
  • Successful CA business delivered healthy profit margins and thereby supported the expansion towards green hydrogen

18.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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