Thyssenkrupp Nucera shares rose Monday after it reported higher sales and net income in its third quarter.
At 0726 GMT, shares in the German hydrogen company were up 3.6% to EUR22.12.
Thyssenkrupp Nucera’s sales nearly doubled in the third quarter ended June 30 to 187.5 million euros ($202.4 million), compared with EUR88.8 million a year prior. The company’s net income rose to EUR6.1 million from EUR2.7 million, while its earnings before interest and taxes rose to EUR7 million from EUR4.4 million.
The company, which went public in July, partly credited high demand for alkaline water electrolysis production capacity and progressing projects in the Netherlands and Saudi Arabia.