Norway's HydrogenPro Q2 revenue dips; cites near-term two major contracts
Norway's HydrogenPro Q2 revenue dips; cites near-term two major contracts
Overview
Norway green hydrogen tech supplier's Q2 revenue declined slightly from Q1
Company reported continued losses at EBITDA and net result levels for Q2
Order backlog grew and two major contracts await regulatory clearance
Outlook
HydrogenPro cites a near-term pipeline of two contracts worth about NOK 300 mln, pending approvals
Result Drivers
GEN4 ELECTRODE LAUNCH - Co commenced production of new electrodes, claiming improved efficiency and durability
LEANER OPERATIONS - Co shifted to a leaner local team and began asset disposals after LONGi OEM agreement
CAPITAL RAISE - Co completed capital raise and continued strategic review to unlock shareholder value
Company press release: ID:nMFN9FkJfc
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| NOK 15 mln |
|
Q2 Net Loss |
| NOK 51 mln |
|
Q2 EBITDA |
| -NOK 16 mln |
|
Q2 Order Backlog |
| NOK 262 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the renewable energy equipment & services peer group is "buy"
Reuters Recommended Reads
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Aug 18 - Netherlands' Alfen H1 revenue rises on Smart Grid Solutions strength
Aug 18 - US cleantech firm 374Water's Q2 revenue surges, net loss narrows on OC San milestone
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)