March 17 (Reuters) - German electrolysis equipment maker
Thyssenkrupp Nucera lowered its full-year outlook on
Tuesday, citing higher-than-expected costs related to the
company's green hydrogen segment.
The company now expects full-year sales in the range of 450
million euros to 550 million euros ($519.1 million to $634.5
million), down from its earlier forecast of 500 million to 600
million euros.
Thyssenkrupp Nucera also lowered its earnings before
interest and taxes outlook for the financial year to a loss of
80 million and 30 million euros, compared with its prior
expectations of a loss of 30 million euros to break-even.
Reduced expectations in the company's green hydrogen segment
were the primary reason for the forecast cut across the group.
The company expects EBIT for the segment between a loss of 90
million and 125 euros, wider than its earlier guidance of a loss
between 55 million and 80 million euros.
The Dortmund, Germany-based company cited
higher-than-expected expenses related to some already delivered
models, as well as the termination of a contract for a 20 MW
pilot plant as the reasons for the trimmed guidance for the
segment.
For the full year, Thyssenkrupp Nucera now forecasts sales
for the green hydrogen segment to be in the range of 120 million
to 170 million euros, down from its previous estimate of 150
million to 220 million euros.
The market for green hydrogen has been a challenging area
for Thyssenkrupp Nucera. The company, which is majority-owned by
Thyssenkrupp, had pointed to headwinds in the sector
in its annual results last year and said that investors had
become more hesitant with regard to green hydrogen investments.
($1 = 0.8669 euros)