NEL ASA

NEL

Equity

ISIN NO0010081235 / Valor 1938106

Oslo Stock Exchange (2024-11-21)

NOK 2.92-5.16%

NEL ASA
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About company

NEL ASA is a global company specializing in hydrogen production, storage, and distribution solutions.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Nel ASA reported revenues of NOK 387 million in the first quarter of 2024, marking a 14% increase from NOK 341 million in the same quarter of 2023. This growth was positively influenced by payments related to the renegotiation of the Nikola supply agreement.

EBITDA Improvement

In the first quarter of 2024, Nel ASA achieved an EBITDA of NOK -16 million, a significant improvement from NOK -121 million in the first quarter of 2023. This positive change included a NOK 96 million impact from the renegotiation of the Nikola supply agreement.

Net Loss Reduction

Nel ASA reported a net loss of NOK -22 million for the first quarter of 2024, a substantial improvement from the NOK -192 million net loss in the same quarter of 2023. The improvement was mainly due to the better EBITDA performance and the absence of a NOK -69 million fair value adjustment from shareholdings in Everfuel, which affected the previous year's results.

Order Intake and Backlog

Order intake for Nel ASA in the first quarter of 2024 was NOK 459 million, slightly down from NOK 467 million in the first quarter of 2023. The order backlog at the end of the quarter stood at NOK 2,437 million, down 1% from the previous quarter and 13% from the first quarter of 2023.

Cash Balance

Nel ASA's cash balance at the end of the first quarter of 2024 was NOK 3,260 million, compared to NOK 4,621 million at the end of the first quarter of 2023. This decrease reflects the company's ongoing investments and operational expenditures.

Summarized from source with an LLMView Source

Key figures

-63.1%1Y

-84.4%3Y

-61.5%5Y

Performance

68.0%1Y

64.3%3Y

66.7%5Y

Volatility