Nel rises on smaller than expected EBITDA loss

Nel ASA

26/02/2025 08:43

** Shares in Nel NEL.OL are up 9% after the Norwegian hydrogen solutions provider reported a smaller than expected EBITDA loss for Q4

** Q4 EBITDA loss narrows to NOK 36 million ($3.23 million) from a loss of NOK 78 million a year ago, while company-provided consensus saw a loss NOK 54 million

** J.P.Morgan says the EBITDA loss is also above the broker's estimate and significantly better quarter-on-quarter; adds consensus for EBITDA loss could modestly improve

** JPM also notes the company's focus on cash preservation

** "Cost-saving measures helped drive a better EBITDA, lowering the cash burn for the quarter" - Jefferies

** The stock is on track for its best day in nine months if the gains hold

($1 = 11.1319 Norwegian crowns)

 (Reporting by Marta Frackowiak)

 ((marta.frackowiak@thomsonreuters.com))