Hydrogen Specialist Nel ASA Reports Conflicting Quarterly Signals

Nel ASA’s latest quarterly results paint a complex picture of the hydrogen technology company’s current trajectory. The Norwegian firm demonstrated significant operational improvements that surpassed market expectations, yet concerning declines in revenue and new orders created investor uncertainty.

The third quarter brought a sharp 17% contraction in customer project revenue, which fell to 303 million Norwegian kroner. More alarmingly, new order intake deteriorated dramatically, plummeting 64% to just 57 million kroner. This substantial drop caused the company’s order backlog to shrink by 47%, settling at 984 million kroner.

Despite these challenging top-line figures, Nel made impressive strides toward profitability. The company’s EBITDA loss nearly halved, improving from 90 million to 37 million kroner. Read more...