thyssenkrupp nucera AG & Co (XTER:NCH2)

Q3 2026 thyssenkrupp nucera AG & Co KgaA Earnings Call Transcript

Aug 12, 2026 / 07:00 AM GMT

Release Date Price: €7.77 (-3.42%)

Transcript

Key Points

Positve

Chlor-alkali segment delivered strong performance with EBIT up from EUR30 million to EUR50 million in Q3, supported by higher sales volumes and improved gross margin.
Order intake in Q3 rose 29% year-on-year to EUR81 million, with chlor-alkali orders up 56%, and nine-month order intake nearly doubled to EUR471 million.
Secured first major long-term service agreement in green hydrogen (8-year contract with MoEWE for a 300 MW project, valued at ~EUR12 million), marking a strategic shift toward recurring revenue.
Strategic partnership with BHEL in India enhances market access and positions the company to capitalize on India's growing green hydrogen market with local manufacturing and EPC expertise.
Green hydrogen pipeline remains robust at ~57 GW total and ~14 GW actively pursued, with paid engineering contracts growing to ~1.9 GW, indicating tangible progress toward future EPC awards.
Strong balance sheet with net financial assets of EUR627 million, providing ample headroom for strategic investments and resilience in a volatile market.

Negative

Group sales in Q3 declined 21% year-on-year to EUR145 million, driven by lower green hydrogen sales (down from EUR103 million to EUR36 million) as reference projects mature.
Group EBIT for the first nine months turned negative at EUR-69 million, impacted by EUR50 million one-time project-related costs in green hydrogen in Q2.
Strategic decision to halt SOEC mass production investments resulted in a one-time EBIT impact of ~EUR30 million in Q4, leading to a downward revision of the full-year EBIT outlook to EUR-105 to -75 million.
Free cash flow was negative in the first nine months at EUR-26 million, reflecting timing effects in project cash flows, though expected to recover in Q4.
Green hydrogen order intake remains volatile and project-driven, with no major new awards in Q3, and the next expected project award is likely to fall in the next fiscal year, not the current one.
The value of actively pursued projects decreased to ~EUR7 billion from ~EUR8 billion in Q2, indicating some pipeline attrition or scope changes.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NCH2.DE - thyssenkrupp nucera AG & Co KgaA
Q3 2026 thyssenkrupp nucera AG & Co KgaA Earnings Call
Aug 12, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone.

Thank you for standing by. This is Henrik Finger from Investor Relations.

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Unidentified_2 [2]
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A warm welcome from my side as well. My name is Evelyn Veid. I'm Head of Communications at Tussen Krup Mucera. Welcome to Tussen Krup Mucera's Joint Press Analyst and Investor Conference on our Q3 and first nine months 2025-2026 results. We are pleased you could join us today.

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Unidentified_1 [3]
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