Shares of Thyssenkrupp Nucera rose after the company announced its impressive first-quarter results, surpassing consensus estimates. At 0940 GMT on Tuesday, shares were up 5.1% at EUR15.70.
Revenue and Order Intake Exceed Expectations
The German electrolyzer business reported a significant increase in sales for the quarter ended December 31, reaching 208.3 million euros ($224.4 million) compared to EUR154.8 million in the same period last year. Additionally, order intake rose by 8.8% to EUR175.5 million.
These results outperformed consensus estimates, which projected sales of EUR192 million and order intake of EUR157 million, according to the company’s estimates.
Confirmed Guidance and Positive Outlook
Thyssenkrupp Nucera reiterated its fiscal 2024 guidance, maintaining its expectations of sales growth in the mid double-digit percentage range and a mid double-digit million range for earnings before interest and taxes loss.
“We are encouraged by the results, as they highlight both strong execution and a solid financial position to support future growth,” noted Citi analysts in a research note to investors.
Decrease in Net Profit and EBIT
Despite the positive performance in revenue and order intake, the company experienced a 67% decrease in net profit, amounting to EUR2.8 million. Additionally, there was a shift from positive earnings before interest and taxes (EBIT) of EUR11.0 million in the previous year to a loss of approximately EUR900,000 in the current period.