Brief: Nel Q3 Order Intake Down At NOK 161 Mln

Nel ASA

16/10/2024 06:09

Oct 16 (Reuters) - Nel ASA  NEL.OL :
    * Q3 ORDER INTAKE WAS NOK 161 MILLION (Q3 2023: 338 MILLION)
    * STRATEGY IS TO NARROW SCOPE AND CONCENTRATE ON STACKS AND
BALANCE-OF-STACK EQUIPMENT
    * ALKALINE DIVISION SHOWED 54% GROWTH COMPARED TO SAME
QUARTER
LAST YEAR, WHILE PEM WAS DOWN 40%
    * AFTER SPIN-OFF OF FUELING DIVISION OPERATIONAL CASH
BURNRATE HAS
BEEN SIGNIFICANTLY REDUCED
    * AFTER SPIN-OFF CO IS ADAPTING ITS CAPACITY UTILIZATION AND
SIZE
OF ITS ORGANIZATION TO MARKET DEMAND, WITH SOME DELAYS CAUSED BY
IMPLEMENTATION TIME
    * WILL REDUCE INVESTMENTS BY ABOUT 50% IN 2025 COMPARED TO
2024

Source text for Eikon:  ID:nWkr28Mj7q 
Further company coverage:  NEL.OL 

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