thyssenkrupp nucera announced on Wednesday that it was forecasting lower-than-expected growth in its green hydrogen business, leading to a sharp fall in its share price on the Frankfurt stock exchange.

The German electrolyzer group said this morning that it expected sales of between 500 and 550 million euros for the full 2023/2024 financial year for its AWE alkaline electrolysis technology.

It had previously forecast annual sales of between 600 and 700 million euros for the division, its most dynamic activity at present.

As a result, thyssenkrupp nucera says it expects total sales of between 820 and 900 million euros for the current financial year, against a consensus target of around 980 million.

The company - which cites "difficult" market conditions in the green hydrogen market - saw sales for its second quarter to the end of March fall by 11.1% to 168 million euros.

The consensus was expecting 190 million euros.

Its operating loss (Ebit) came to 10.6 million euros, a more pronounced shortfall than expected since the consensus was for a loss of nine million.

Following this publication, the thyssenkrupp nucera share fell by 8%.

The share has now lost almost 50% of its value since its IPO last summer, based on an IPO price of 20 euros.

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