Nel ASA Shares Face Pressure as Hydrogen Specialist Reports Steep Order Decline

Norwegian hydrogen technology company Nel ASA finds itself navigating turbulent waters following the release of its third-quarter 2025 results. The company’s financial performance reveals a concerning contraction in order activity, casting a shadow over its near-term growth trajectory despite some operational improvements.

Nel’s revenue for the third quarter of 2025 declined significantly, falling 17 percent to 303 million Norwegian kroner. While the top-line figure showed weakness, the company demonstrated progress on operational efficiency metrics. The EBITDA loss narrowed substantially to 37 million kroner, a marked improvement from the 90 million kroner loss recorded in the same period last year. Similarly, the net loss contracted from 115 million kroner to 85 million kroner.

The company maintains a solid Read more...