(Reuters) -German hydrogen equipment supplier Thyssenkrupp Nucera on Wednesday reported an unexpected third quarter loss, as it continues to face project postponements in a weak hydrogen market.
Global demand for green hydrogen is stalling and clean-tech players are concerned over what U.S. President Donald Trump’s policies will mean for the industry, fearing his tax and spending plans will hobble the nascent U.S. green hydrogen industry by removing crucial tax credits.
Thyssenkrupp Nucera reported a net loss of 2 million euros ($2.33 million), below the 1 million euro profit predicted by analysts in a Vara-research compiled poll. That compared to a 7 million euro profit in the same period last year.
The company’s free cash flow for the first nine months of the financial year however was positive, it said.
“Thyssenkrupp Nucera continues to generate positive free cash flow even in this difficult market for hydrogen solutions,” CFO Stefan Hahn said in a statement.
The company also confirmed its full year guidance.
In July the hydrogen group had slightly raised its profit expectations for its 2025 financial year when reporting third quarter results.
Orders fell 77% in the latest quarter, below the record number which the company had recorded in the year before.
Thyssenkrupp Nucera said in December that it could quickly shift resources elsewhere if U.S. policies proved negative for the sector.
Earlier this week wind farm developer Orsted asked shareholders for $9.4 billion to help fund a U.S. project, after potential partners were put off by U.S. President Donald Trump’s hostility to wind power, sending shares plunging to record lows.
“Europe is currently the most promising market,” Chief Executive Werner Ponikwar said of green hydrogen production projects in a statement on Wednesday.
($1 = 0.8568 euros)
(Reporting by Marleen Kaesebier, Tom Kaeckenhoff and Christoph Steitz; Editing by Matt Scuffham)
