NEL ASA ( (NLLSF) ) has released its Q2 earnings. Here is a breakdown of the information NEL ASA presented to its investors.
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Nel ASA is a Norwegian company specializing in hydrogen electrolyser technology, providing solutions for efficient hydrogen production from renewable energy sources, primarily serving industries such as transportation, refining, and steel. In its latest earnings report for the second quarter and first half of 2025, Nel ASA reported a significant decline in revenue, with a 48% reduction compared to the same quarter last year. The company also faced a net loss of NOK 131 million, attributed mainly to decreased operating losses and increased net financial items. Order intake saw a drastic 74% decrease, reflecting broader industry challenges. Key financial metrics highlighted a challenging quarter for Nel ASA, with total revenue and income dropping to NOK 215 million and EBITDA at NOK -86 million. The order backlog also decreased by 40% from the previous year, indicating a slowdown in new projects. Despite these challenges, the company maintains a strong cash position with NOK 1,928 million at the end of the quarter. Looking ahead, Nel ASA remains focused on its strategy to deliver reliable and energy-efficient electrolyser systems, with a strong emphasis on technological advancements and strategic partnerships. The company is well-positioned to capture near-term opportunities and expects to achieve profitability as the market for hydrogen solutions grows.