Brief: Green Hydrogen Systems Initiates Cost-Out, Restructuring Initiatives

Green Hydrogen Systems A/S

09/10/2024 07:45

Oct 9 (Reuters) - Green Hydrogen Systems A/S
 GREENH.CO :
    * INITIATES COST-OUT AND RESTRUCTURING INITIATIVES
    * BOARD SEEKS TO STRENGTHEN CAPITAL BASE BY UP TO DKK 300
MILLION
    * LOWERS 2024 REVENUE GUIDANCE TO DKK 105-145 MILLION
    * ADJUSTS 2024 CAPEX GUIDANCE TO DKK 130-160 MILLION
(PREVIOUSLY
DKK 160-200 MILLION)
    * REASON FOR GUIDANCE ADJUSTMENT IS LACK OF COMMERCIAL
TRACTION
AND RISK OF CANCELLATIONS RELATED TO COMBINED COST-OUT AND
RESTRUCTURING PROGRAM
    * WILL INITIATE A RESTRUCTURING OF ITS OPERATIONS AIMING AT
REDUCING COST BASE BY AT LEAST 40-50% COMPARED TO CURRENT LEVEL
    * STARTS DIALOGUE WITH RELEVANT EMPLOYEE REPRESENTATIVES
REGARDING
REDUCTION OF ORGANISATION, EXPECTED TO IMPACT ABOUT 100 SALARIED
EMPLOYEES

Source text for Eikon:  ID:nGNE7d06F5 
Further company coverage:  GREENH.CO 

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