NEL ASA (NLLSF)
OTHER OTC:NLLSF
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
>-0.01Last Year’s EPS
-0.01Same Quarter Last Year
Moderate Sell
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presents a balanced picture: near-term financials and legacy-product demand were weak in 2025, resulting in significant non-cash impairments, lower alkaline revenue (~44% decline) and an annual EBITDA loss. Offsetting these negatives are strong late-2025 commercial momentum (large Q4 order intake and backlog growth), multiple strategic commercial wins, operational cost reductions, and a potentially transformative next-generation pressurized alkaline technology backed by first-gas results, EU grants (EUR 135 million), and a 1 GW production FID. Given the sizeable strategic and technology progress but meaningful short-term financial challenges and inventory/working-capital risks, the overall tone of the call is mixed with cautious optimism for medium-to-long-term recovery and growth.Company Guidance
Quarterly Revenue and EBITDA
Q4 revenue of NOK 330 million (+9% quarter-on-quarter, -20% year-on-year). Q4 EBITDA was negative NOK 36 million, broadly flat versus prior quarter and year-on-year.
Strong Order Intake and Backlog
Second-best quarterly order intake in company history at NOK 686 million. Order backlog increased to NOK 1.3 billion, with roughly 70% of backlog related to PEM technology. Annual order intake rose ~15% versus 2024 and the Q4 intake represented ~60% of 2025 order intake.
Solid Cash Position and Reduced Cash Burn
Year-end cash balance NOK 1.6 billion (down from NOK 1.9 billion at end of 2024). Company reduced cash burn substantially: a 35% reduction in 2024 versus 2023 and a further 41% reduction in 2025 (management-stated figures).
Commercial Wins and Strategic Partnerships
Major commercial achievements: PEM purchase orders from HYDS (HyFuel and Kaupanes) and GreenH projects in Norway (combined contract value > USD 50 million for HYDS, 40 MW total). Third containerized PEM order from H2Energy (Switzerland). Partnership named preferred global partner with Samsung E&A; large orders from a major U.S. steel producer, Collins Aerospace (U.S. Navy stacks), and a sale to Aberdeen Hydrogen Hub.
Technology Milestones and Production Investment
Delivered first gas on pressurized next-generation alkaline prototype; Board approved final investment decision for 1 GW stack production capacity at Heroya. Product commercial launch planned H1 2026 (customer event May 6, 2026). Aim to validate pilot H2 2026 and scale to hundreds of MW in 2027.
EU Grant Support for Industrialization
Received EUR 135 million in European Union grants to industrialize the pressurized alkaline concept and fund the gigawatt production line.
Expected System-Level Cost and Efficiency Improvements
Management expects new pressurized alkaline platform to reduce system footprint up to 80%, lower total system CapEx by 40%–60%, and improve system-level energy consumption to below ~50 kWh/kg (a 10%–20% improvement versus many current systems).
Operational Discipline and Cost Reductions
Headcount reduced from 430 to 346 employees (≈19.5% reduction). Personnel expenses fell from NOK 646 million to NOK 569 million (≈12% decline). Management indicates a controlled, lower future burn rate and less need for heavy CapEx than prior years.
NLLSF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
NLLSF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | $0.22 | $0.22 | +1.38% |
Oct 29, 2025 | $0.23 | $0.24 | +3.88% |
Jul 16, 2025 | $0.27 | $0.27 | -1.09% |
Apr 30, 2025 | $0.24 | $0.23 | -2.11% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does NEL ASA (NLLSF) report earnings?
NEL ASA (NLLSF) is schdueled to report earning on May 06, 2026, Before Open (Confirmed).
What is NEL ASA (NLLSF) earnings time?
NEL ASA (NLLSF) earnings time is at May 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is NLLSF EPS forecast?
NLLSF EPS forecast for the fiscal quarter 2026 (Q1) is >-0.01.