Thyssenkrupp Nucera: 2023/24 operating performance was better than expected
FRANKFURT, Nov 18 (Reuters) -Hydrogen group Thyssenkrupp Nucera NCH2.DE on Monday said its full-year operating performance was slightly better than expected, saying lower margins in the sector hit by investor caution had been partly offset by cost cuts.
In its trading statement ahead of full-year results, the company, in which Germany's Thyssenkrupp TKAG.DE owns a majority, said earnings before interest and tax (EBIT) had been slightly better than expected.
Thyssenkrupp Nucera, which along with other electrolyser makers has been hit by investor reluctance over uncertain regulation for hydrogen, provided no actual figures in its trading statement.
The group had previously expected a loss before interest and tax in the mid double-digit million-euro range.
According to LSEG estimates, Thyssenkrupp Nucera's EBIT loss is expected at 30 million euros ($31.7 million) for the financial year that ended in September.
Order intake in the fiscal year was higher than in the prior year, when the group achieved 613 million euros, Thyssenkrupp Nucera said, adding it had roughly hit the midpoint of its 820-900 million euro sales outlook.
The group is scheduled to release detailed full-year results on Dec. 17.
($1 = 0.9463 euros)
Reporting by Christoph Steitz, Editing by Rachel More
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