Thyssenkrupp Nucera Ag & Co. Kgaa · XETR:NCH2
Thyssenkrupp Nucera Ag & Co. Kgaa — Q3 2024/25 Earnings Presentation
34 slides from Thyssenkrupp Nucera Ag & Co. Kgaa's earnings presentation, Aug 13, 2025
Slide 1: Q3/9M 2024/25 Results Presentation
Q3/9M 2024/25 Results Presentation August 13, 2025
Slide 2: With you today
With you today Dr. Werner Ponikwar (CEO) Dr. Stefan Hahn (CFO) Dr. Hendrik Finger (Head of IR) 22 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by thyssenkrupp nucera AG & Co. KGaA (“thyssenkrupp nucera”) and comprises the written materials/slides for a presentation concerning thyssenkrupp nucera. By attending this presentation and/or reviewing the slides you agree to be bound by the following
Slide 4: Q3 Highlights
Q3 Highlights Sales guidance for FY 24/25 specified, EBIT guidance for the Paid Engineering group and the CA segment raised slightly based on resilient 9M performance Contracts ~1.5GW New customer engagements in gH2 and Chlor-Alkali business: FEED study for 600 MW gH2 project in Europe signed; contr
Slide 5: 1. Business update
1. Business update 5 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
Slide 6: Chlor-Alkali with good orderbook momentum & new project milestones
Chlor-Alkali with good orderbook momentum & new project milestones Sales Pipeline Project execution Expansion of TGV SRAAC’s caustic soda plant in India Successful start of operations at KMCI plant in South Korea • Contract signed in June 2025 to expand TGV SRAAC’s Project execution well on track ca
Slide 7: Commercial pipeline remains substantial despite some delays and cancellations
Commercial pipeline remains substantial despite some delays and cancellations – Window of opportunity for US projects reopened Definition No. of projects Median size Aggregated size Contract value Projects where we had first Substantial interactions with #162 290 MW ~83 GW ~42bn € pipeline and that
Slide 8: Awarded engineering contracts paving the way towards FID for green hydrogen projects
Awarded engineering contracts paving the way towards FID for green hydrogen projects with a capacity of 1.5 GW Communicated projects in advanced planning stage 300 Paid Engineering Contract and Capacity MW Reservation signed with Moeve (August 2024) We have already been named 500 Paid Engineering Co
Slide 9: Investing in complementary gH2 technologies to reduce time to market
Investing in complementary gH2 technologies to reduce time to market and lead in levelized cost of hydrogen Acquisition of pressurized alkaline electrolyzer technology Opening of first SOEC pilot production plant • Agreement signed to acquire key technology assets in • Opening of our first SOEC pilo
Slide 10: New project execution milestones reached
New project execution milestones reached NEOM • Construction of green hydrogen facility reached 80% completion • More than 90 of our modules handed over to customer Stegra • Four electrolyzer modules in erection at plant in Boden • Cell fabrication and delivery on track • Installation of electrolyze
Slide 11: 2. Update on Q3/9M 2024/25 financials
2. Update on Q3/9M 2024/25 financials Note: The comparison figures for Q3/9M 2023/24 have been retrospectively adjusted in accordance with IAS 8.41. 11 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
Slide 12: Resilient performance in Q3 – Financials in line with expectations
Resilient performance in Q3 – Financials in line with expectations 271 • CA on PY level; lower order intake Order intake driven by gH2 business, which 114 95 83 (mn €) 63 included ~200mn € tranche from Stegra in PY Q3 2023/24 Q4 2023/24 Q1 2024/25 Q2 2024/25 Q3 2024/25 237 250 262 216 • Sales declin
Slide 13: Order intake still impacted by project delays in green hydrogen
Order intake still impacted by project delays in green hydrogen Order intake (mn €) Order intake Q3 Q3 9M • gH2 (-94% yoy) impacted by project shifts and high -77% -54% comparison base (PY included ~200mn € Stegra tranche) 522 • Higher service orders in CA offset declining New Build business 181 • O
Slide 14: Q3 sales reflecting high degree of completion of existing projects
Q3 sales reflecting high degree of completion of existing projects Sales (mn €) Sales Q3 Q3 9M • Sales declined yoy across both technologies -22% 9% • gH2 (-23% yoy) due to declining NEOM sales, reflecting high 663 237 609 percentage of completion; Stegra with growing sales contribution 184 286 • CA
Slide 15: Margin improvement in green hydrogen supports profitability
Margin improvement in green hydrogen supports profitability EBIT (mn €) EBIT Q3 Q3 9M • Group gross margin increased by +3%P. to 14% of sales -2mn € +17mn € • gH2 increase (+10mn € yoy) mostly driven by improved margin, but also lower OpEx 2 4 • CA decline (-12mn € yoy) due to 0 lower sales in Q3 an
Slide 16: Stringent cost discipline yields improved cost ratios in both CA & gH2
Stringent cost discipline yields improved cost ratios in both CA & gH2 Operating costs (mn €) % of sales COGS 9M • Slight improvement in % of sales driven by improved project mix in 89% gH2 segment 90% SG&A 9% 587 • Strong focus on costs leading to 549 8% slightly declining cost ratio across 4% both
Slide 17: Positive net income and EPS in 9M driven by EBIT improvement
Positive net income and EPS in 9M driven by EBIT improvement EBIT to EPS (mn €) EBIT to EPS Q3 Q3 2023/24 Q3 2024/25 • Financial result impacted by EBIT 2 0 lower interest income resulting Financial income /(expense), net 7 3 from lower interest rates Income tax expense -2 -5 • Income tax expenses i
Slide 18: Positive Free Cash Flow underlines financial stability
Positive Free Cash Flow underlines financial stability Cash flow (mn €) Change in NWC1 Change in NWC1 Free Cash Flow • Positive contribution from pre- payments offset increase in +11mn € +72mn € inventories 15 Free Cash Flow • Operating CF: Significant increase 32 driven by positive earnings contrib
Slide 19: Strong financial foundation to support future growth and resilience
Strong financial foundation to support future growth and resilience Net financial assets development (mn €) 9M Strong increase (+14mn € yoy) 673 12 11 660 -18 -18 Net financial assets 1 EBITDA ΔNWC 2 CAPEX 3 Other Net financial assets 1 Sept 24 June 25 1. Net financial assets are calculated as balan
Slide 20: Outlook for FY 2024/25 specified; EBIT guidance raised slightly
Outlook for FY 2024/25 specified; EBIT guidance raised slightly Group sales gH2 Sales 450 to 510mn € FY 2023/24: 524mn € 850 to 920mn € Previously: Previously: 450 to 550mn € 850 to 950mn € EBIT -75 to -55mn € Previously: FY 2023/24: 862mn € “…improve yoy to a negative mid FY 2023/24: -76mn € double
Slide 21: Key messages
Key messages Strong industry positioning and high demand for our technologies underlined by ~1.5 GW gH2 paid engineering contracts and new Chlor-Alkali contract awards Investing in our green hydrogen technology portfolio to reduce time to market and lead in levelized cost of hydrogen Key project exe
Slide 22: Questions & Answers
Questions & Answers 22 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
Slide 23: Events & Financial Calendar
Events & Financial Calendar Upcoming events IR Contact Aug 27 Hamburger Investorentage – Sept 23 Berenberg and Goldman Sachs thyssenkrupp nucera AG & Co. KGaA HIT (Hamburg) German Corp. Conf. (Munich) Investor Relations Sept 2 Roadshow Zurich Sept 24 Baader Investment Conference Sept 3 Danske Bank F
Slide 24: Appendix
Appendix Note: The comparison figures for Q3/9M 2023/24 have been retrospectively adjusted in accordance with IAS 8.41. 24 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
Slide 25: New segment reporting (IFRS 8) as of FY 2024/25
New segment reporting (IFRS 8) as of FY 2024/25 until Sept. 30, 2024 from Oct. 1, 2024 Germany Green Hydrogen FY 23/24 Italy (gH2)1 Sales: 524mn € EBIT: -76mn € NCA NCA Japan group group China Chlor-Alkali FY 23/24 Sales: 338mn € (CA) EBIT: 62mn € Rest of World From regional steering… …to product st
Slide 26: EBITDA
EBITDA (in mn €) Q3 2023/24 Q3 2024/25 EBITDA 3 2 EBITDA margin (in %) 1% 1% (in mn €) 9M 2023/24 9M 2024/25 EBITDA -9 12 EBITDA margin (in %) -2% 2% 26 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
Slide 27: External sales by region
External sales by region (in mn €) Q3 2023/24 Q3 2024/25 9M 2023/24 9M 2024/25 Europe 40 59 88 183 North America 6 26 33 81 South America 19 13 65 61 Asia / Pacific 15 4 36 15 Greater China 30 19 67 47 India 7 3 17 10 Middle East & Africa 120 59 304 266 Total 237 184 609 663 The allocation of sales
Slide 28: Group | Summary income statement Q3
Group | Summary income statement Q3 (in mn €) Q3 2023/24 Q3 2024/25 Sales 237 184 Cost of sales -212 -158 Gross profit 26 26 % margin 11% 14% R&D -11 -10 SG&A -19 -19 Other income /(expense), net 6 3 EBIT 2 0 % margin 1% 0% Financial income /(expense), net 7 3 Income tax expense -2 -5 Net income 7 -
Slide 29: Group | Summary income statement 9M
Group | Summary income statement 9M (in mn €) 9M 2023/24 9M 2024/25 Sales 609 663 Cost of sales -549 -587 Gross profit 60 76 % margin 10% 11% R&D -25 -24 SG&A -56 -56 Other income /(expense), net 7 8 EBIT -13 4 % margin -2% 1% Financial income /(expense), net 19 13 Income tax expense -6 -13 Net inco
Slide 30: Group | Summary balance sheet assets
Group | Summary balance sheet assets (in mn €) Sept 30, 2024 June 30, 2025 Property, plant and equipment 14 41 Goodwill 55 53 Intangible assets other than goodwill 7 16 Other non-current assets1 33 32 Total non-current assets 108 142 Inventories 147 199 Trade accounts receivable 63 69 Contract asset
Slide 31: Group | Summary balance sheet equity and liabilities
Group | Summary balance sheet equity and liabilities (in mn €) Sept 30, 2024 June 30, 2025 Equity attributable to equity holders 754 754 Accrued pension and similar obligations1 9 9 Other provisions 1 0 Deferred tax liabilities 13 13 Lease liabilities and other financial liabilities 4 25 Total non-c
Slide 32: Group | Summary cash flow statement Q3
Group | Summary cash flow statement Q3 (in mn €) Q3 2023/24 Q3 2024/25 Net income 7 -2 Depreciation & amortisation 1 3 Change in NWC1 -62 -43 Other operating cash flow2 9 39 Cash flow from operating activities -45 -3 Expenditures for acquisitions - - Capital expenditures -2 -6 Proceeds from disposal
Slide 33: Group | Summary cash flow statement 9M
Group | Summary cash flow statement 9M (in mn €) 9M 2023/24 9M 2024/25 Net income -1 4 Depreciation & amortisation 4 8 Change in NWC1 -68 -57 Other operating cash flow2 16 77 Cash flow from operating activities -49 32 Expenditures for acquisitions -3 - Capital expenditures -4 -18 Proceeds from dispo
Slide 34: 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
34 13 August 2025 | Q3/9M 2024/25 Results Presentation | thyssenkrupp nucera
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