Norway's Nel Q4 revenue beats on order intake surge

Nel ASA

26/02/2026 06:14

Overview

Norway hydrogen tech firm's Q4 revenue beat analyst expectations despite a 20% yr/yr decline

Company reported net loss due to NOK 799 mln impairment in PEM and Alkaline divisions

Order intake surged 364% yr/yr to NOK 686 mln, driven by large PEM contract

Outlook

Nel plans to commercialize new alkaline platform by May 2026

Company focuses on monetizing innovations amid market fluctuations

Nel secured largest PEM purchase order worth over USD 50 mln

Result Drivers

ORDER INTAKE - Nel's Q4 order intake surged 364% yr/yr to NOK 686 mln, driven by a large PEM contract

PEM DIVISION - PEM division secured its largest purchase order to date, contributing to strong order intake

TECHNOLOGY ADVANCEMENT - Nel advanced its next-gen pressurized alkaline platform, supported by EU funding

Company press release: ID:nWkrgVTN3

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
NOK 361 mln
NOK 255.74 mln (6 Analysts)
Q4 Net Income
-NOK 870 mln
Q4 EBITDA
-NOK 36 mln
Q4 Order Backlog
NOK 1.32 bln
Q4 Orders
NOK 686 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)