FRANKFURT (dpa-AFX) - Shares in Thyssenkrupp Nucera reacted to strong figures on Monday with significant price gains. In early trading, the shares of the electrolysis specialist climbed to their highest level in two weeks, gaining 2.87 percent to 16.47 euros. This made them one of the top stocks in the SDax.

The plant engineering company grew strongly in the past financial year. The operating result (EBIT) also increased significantly. On the bottom line, Thyssenkrupp Nucera earned many times more. For the new financial year 2023/24, the company announced further sales growth in the mid double-digit percentage range. However, the ramp-up of the hydrogen business is expected to lead to an operating loss (EBIT) in the mid double-digit million euro range.

Deutsche Bank analyst Michael Kuhn noted that the company's first annual report after the IPO in July did not bring any major surprises. The figures for the final quarter showed a project-related decline in turnover compared to the third quarter, whereas profitability had increased. The sales outlook for the new financial year is in line with expectations.

Bernstein expert Deepa Venkateswaran largely agreed with Kuhn in an initial reaction. She pointed out that Thyssenkrupp Nucera had already reported a strong sales and earnings performance around four weeks ago. Against the background of the recent negative industry news, the company's outlook was encouraging.

Since the high of EUR 25.28 shortly after the IPO in the summer, the shares of the electrolysis specialist had fallen by almost half by the end of October. This was followed by a recovery until mid-November, before heading downhill again. This latest downward trend has now been broken with a view to the current price gain. Compared to the initial price of 20.20 euros in July, the share price is still down by more than 18% for the current year./edh/ajx/tih