Brief: Nel Says Interest Rates, Raw Material Prices Affect Market Outlook

Nel ASA

17/07/2024 06:10

July 17 (Reuters) - Nel ASA  NEL.OL :
    * CURRENT LEVEL OF INTEREST RATES AND  RAW MATERIAL PRICES
HAVE
MADE RENEWABLE ENERGY MORE EXPENSIVE, NEGATIVELY INFLUENCING THE
MARKET OUTLOOK
    * GOVERNMENTAL INCENTIVES FOR NEL’S CUSTOMERS TAKING LONGER
THAN
EXPECTED TO MATERIALIZE HAS LED TO ORDER INTAKE IN RECENT
QUARTERS BEING LOWER THAN EXPECTED
    * NEL HAS THE AMBITION TO WIN SEVERAL NEW LARGE-SCALE ORDERS
IN
THE COMING PERIODS
    * HIGHER  REVENUE IN COMBINATION WITH MORE EFFICIENT
EXECUTION IS
EXPECTED TO YIELD PROFITABILITY FOR NEL
    * THIS POSITIVE  MARKET OUTLOOK DRIVES NEL’S CONTINUED
INVESTMENTS
IN ENGINEERING, PROJECT MANAGEMENT, PROJECT EXECUTION,  AND
RELATED DISCIPLINES, WHICH NEGATIVELY AFFECT CURRENT RESULTS
    * ALKALINE SEGMENT REPORTED AN ORDER BACKLOG AT END OF
QUARTER OF
NOK 1 689 MILLION, UP NOK 22 MILLION FROM PREVIOUS QUARTER
    * FOR PEM SEGMENT ORDER BACKLOG ENDED AT NOK 383 MILLION,
DOWN NOK
75 MILLION FROM PREVIOUS QUARTER DUE TO LOW ORDER INTAKE

Source text for Eikon:  ID:nWkr1bqkSB 
Further company coverage:  NEL.OL 

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