In its preliminary, unaudited results, the firm anticipates sales of €845m ($974m), down from €862m ($993.8m) a year earlier, resulting in expected earnings before interest and taxes (EBIT) of around €2m ($2.3m).

Group sales came in below previously revised sales forecasts of €850m–€920m ($989m–€1.06bn), while the EBIT landed in the upper half of the guidance range of -€7m to €7m (–$8.1m to $8.1m).

The green hydrogen segment reported €459m ($529m), down from €524m ($604m) in 2023/2024, but within the projected €450m–€510m ($519m–$588m). EBIT loss in the segment also improved to –€56m (–$65m) from –€75m (–$86.5m).

The chlor-alkali division increased sales to €386m ($445m) from €228m ($263m), while its EBIT slipped to €58m ($67m) from €62m ($71m).

However, management expects sales to fall further next year. Through 2024/2025, Thyssenkrupp Nucera recorded around €348m ($401m) in order intake, with just €26m ($30m) attributed to green hydrogen.

This is a heavy drop from the €356m ($410m) of green hydrogen orders in 2023/2024.

“The situation on the market for green hydrogen became even more challenging in the reporting year,” said Thyssenkrupp Nucera CEO Werner Ponikwar, pointing to delayed project final investment decisions.

In 2025/2026, the company expects consolidated sales of between €500m ($576m) and €600m ($692m) and an EBIT of –€30m ($34.6m) to €0m, with plans to reduce costs.

Ponikwar said the firm had taken “proactive measures” to reduce cost coverage associated with the expected sales decline, but revealed no further details.

“Thanks to our excellent positioning in the hydrogen and chlor-alkali market and our very high financial resilience we can and will overcome the challenges and continue to successfully pursue our strategic goals,” he insisted.

Despite a year of declining orders, the OEM has continued to bet heavily on green hydrogen, opening a pilot plant for new solid oxide electrolyser technology and acquiring technology from a bankrupt competitor.

However, Thyssenkrupp Nucera has been among the loudest voices calling for more support from European policymakers.

In a Hydrogen Europe-led lobbying effort, Ponikwar was among the hydrogen company leaders urging the EU to ease its rules on green hydrogen and support lead markets to accelerate project development.