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Earnings Call Summary | NEL ASA(NLLSF.US) Q1 2024 Earnings Conference

moomoo AI ·  Apr 17 12:23  · Conference Call

The following is a summary of the Nel ASA (NLLSF) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Nel ASA reported a Q1 2024 revenue of NOK 387 million, an EBITDA of minus NOK 16 million, and a strong cash balance of NOK 3,260 million.

  • The company experienced a 20% YoY growth in Alkaline Electrolyser financials, facilitated by the Nikola FFI agreement.

  • There was a relative decline in PEM business revenues, down 33% from the previous year.

  • The Fueling division reported a 45% YoY revenue growth, bolstered by a renegotiated Nikola supply agreement.

Business Progress:

  • Strategic partnerships were established with Samsung C&T, Nikola and Fortescue Future Industries with significant funding acquired for various R&D projects.

  • There are plans to spin-off and list the Fueling division separately.

  • Expansion plans for the Heroya and Wallingford facilities continue unhindered.

  • The Alkaline business is near breakeven at the EBITDA level, indicating its potential profitability with more orders.

  • Nel ASA is bolstering its product line and positioning to accommodate for more orders, which is expected to significantly impact future results.

More details: NEL ASA IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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