The plant manufacturer Thyssenkrupp Nucera has great expectations of the global green hydrogen business. The company has been on the stock exchange since July.
The electrolysis specialist Thyssenkrupp Nucera remains on course for growth. In the first nine months of the 2022/2023 fiscal year, sales climbed by 79 percent to 493 million euros compared to the same period last year, as reported by the plant engineering subsidiary of the industrial group Thyssenkrupp in Dortmund.
The company emphasizes that sales of water electrolysis have increased almost tenfold to 240 million. In the third quarter alone, 110 million euros were earned in this area.
In water electrolysis, water is split into its components, hydrogen and oxygen, with the help of electricity. If the electricity was previously generated in a climate-neutral manner, for example with wind turbines or solar cells, the hydrogen is called “green”. Hydrogen is considered a key element in building a climate-neutral industry. Nucera also builds plants for chlor-alkali electrolysis, in which electricity is used to produce chlorine and alkali from a salt solution.
According to CEO Werner Ponikwar, the company sees itself “as the world’s leading provider of water electrolysis technology for the production of green hydrogen”. This position will be expanded further. “The long-term trend towards the large-scale use of green hydrogen as an energy carrier in energy-intensive industry worldwide is intact,” he says.
Nucera is strategically well positioned for this with a highly efficient water electrolysis technology. When it comes to green hydrogen, Europe and the USA are the fastest growing regions.
No dividend payment planned despite high profits
Earnings before interest and taxes climbed 77 percent to EUR 20 million in the first nine months. The bottom line was 18.2 million euros net profit. At the end of the fiscal year (September 30), the net income should also be positive, says Ponikwar. The profit is to be invested in further growth. A dividend payment is not planned for the foreseeable future.
Thyssenkrupp took the electrolysis specialist public in July. The number of employees increased by 139 to 628 within nine months. Almost 400 of them work in Germany. The head office is in Dortmund.
According to previous information, the industrial group Thyssenkrupp intends to hold a majority stake in its subsidiary in the long term. The company currently holds 50.2 percent. Industry De Nora currently holds 25.9 percent. De Nora is an Italian manufacturer of electrochemical technology.
Source: Stern
