NEL ASA ( (NLLSF) ) has released its Q4 earnings. Here is a breakdown of the information NEL ASA presented to its investors.
Nel ASA is a global leader in hydrogen electrolyser technology, providing solutions to produce hydrogen from renewable energy sources, with a focus on decarbonizing industries such as transportation and steel. The company operates primarily in the alkaline and PEM electrolyser segments and is listed on the Oslo Stock Exchange.
In its Q4 2024 earnings report, Nel ASA reported stable revenue from continuing operations at NOK 416 million, slightly up from NOK 412 million in the same quarter of the previous year. The company’s EBITDA improved to NOK -36 million from NOK -78 million, reflecting better performance in the alkaline segment, although the overall net loss increased to NOK -64 million.
Key highlights include a significant EUR 135 million grant from the EU Innovation Fund for the industrialization of next-generation electrolyser technology, and a USD 29 million tax credit from the Inflation Reduction Act for manufacturing expansion in Michigan, US. Despite a 13% increase in order intake, the order backlog decreased by 23% to NOK 1,614 million, indicating challenges in securing new large-scale projects.
Looking ahead, Nel ASA remains focused on maintaining its leadership in the electrolyser market by enhancing its core technology and expanding its production capacity. The company is adjusting its operations to align with market demand, including a temporary shutdown of its Herøya facility, while continuing to invest in next-generation technologies. Nel is positioned to capitalize on near-term opportunities as the hydrogen market evolves.