thyssenkrupp nucera (NCH2) Investor Presentation summary

Management and company overview

• Leadership team includes CEO with 20+ years in chemicals, CFO with 30 years industry experience, and CTO with 30 years in electrolysis.

• Operates globally with a workforce of about 950 employees and a strong customer network.

• Shareholder structure: thyssenkrupp 50.19%, De Nora 25.85%, Free Float 17.96%, others 6%.

Business model, products, and market position

• Global provider of Alkaline Water Electrolysis (AWE) and Chlor-Alkali (CA) technologies.

• Holds ~50% market share in core segments and is a market leader.

• Delivered over 600 electrochemical projects and achieved 70% group sales growth in FY 22/23.

• Order backlog as of June 2024: ~€0.9bn (AWE) and ~€0.4bn (CA).

• Major customers include Covestro, BASF, Olin, H2 Green Steel, and Shell.

Financial performance and growth

• FY 22/23 sales: €330mn (CA), €323mn (AWE); AWE sales up more than 6x year-over-year.

• Q3 2023/24 sales reached €236mn, highest ever quarterly sales, with 26% year-over-year growth.

• 9M 2023/24 sales up 24% year-over-year to €612mn; AWE order intake up 78% year-over-year.

• EBIT declined due to lower gross margin and higher ramp-up costs for AWE, as planned.

• Net financial assets at €694mn as of June 2024.