thyssenkrupp nucera (NCH2) Q1 2025 earnings summary

Executive summary

• Achieved record-high quarterly sales of EUR 262 million in Q1 2024/25, up 27% year-over-year, with dynamic growth in both green hydrogen (gH₂) and chlor-alkali (CA) segments, and positive EBIT of EUR 8 million driven by improved margins and project execution.

• Net income rose to EUR 9 million, with EPS increasing to EUR 0.07 from EUR 0.02 year-over-year.

• Order backlog remains strong at around EUR 1 billion, supporting future sales, though order intake declined 46% year-over-year to EUR 95 million due to gH₂ project timing.

• Management changes announced: new CFO and CTO joining in 2025, CEO contract extended to 2030, and high approval rates at the annual general meeting.

• Full-year 2024/25 guidance confirmed, with sales expected between EUR 850–950 million.

Financial highlights

• Q1 group sales reached EUR 262 million (+27% year-over-year), with gH₂ sales at EUR 154 million (+30%) and CA sales at EUR 108 million (+24%).

• EBIT improved to EUR 8 million (from EUR -2 million), with EBIT margin at 3% (Q1 2023/24: -1%).

• Net income was EUR 9 million; EPS rose to EUR 0.07.

• Operating cash flow improved to EUR 35 million; net financial assets stood at EUR 687 million at quarter-end.

• Order intake declined to EUR 95 million, mainly due to gH₂ project timing.

Outlook and guidance

• Full-year 2024/25 group sales expected between EUR 850–950 million, with gH₂ sales of EUR 450–550 million and CA sales of EUR 380–420 million.

• Group EBIT guidance remains at EUR -30 million to EUR +5 million; gH₂ EBIT to improve but remain negative, CA EBIT positive but below last year.

• Lower sales and profitability anticipated in the second half due to project timing.