Norway's Nel falls on Q2 revenue miss, 74% order intake drop

Nel ASA

16/07/2025 08:26

** Shares in Nel NEL.OL fall 5.7% after the Norwegian hydrogen company posted Q2 results, with revenue falling below market expectations

** Q2 total revenue ended at 215 million Norwegian crowns  ($20.98 million), down from 356 million crowns in the same period last year

** Q2 order intake fell sharply to 71 million crowns from 270 million crowns, a decrease of 74%

** Delays in incentives, high interest rates, and unexpected hydrogen facility costs have reduced industry-wide orders and caused project delays and cancellations in recent years, company said in a statement

** Shares are on track for their worst day in two months

($1 = 10.2480 Norwegian crowns)

 (Reporting by Jesus Calero)

 ((Jesus.calero@thomsonreuters.com))