Nel slumps 9% on soft Q1

Nel ASA

22/04/2026 08:20

** Shares in Nel NEL.OL fall 9% after the Norwegian hydrogen company posted soft Q1 results

** Q1 revenues from contracts fell 5% to 148 million Norwegian crowns ($15.88 million), while Q1 order intake fell 73% to 85 million crowns

** RBC says Q1 orders and sales are soft, as was the market backdrop, noting there is no change to the market outlook

** "Another difficult quarter whilst waiting for a market pick-up, though with continued self-help driving down the cost line," the broker adds in a note

** Shares are on track for their worst day since March

($1 = 9.3176 Norwegian crowns)

 (Reporting by Marta Frackowiak)

 ((marta.frackowiak@thomsonreuters.com))