Nel Announces Fourth quarter 2025 financial results

26 Feb Nel Announces Fourth quarter 2025 financial results

(Oilandgaspress) – Nel ASA reported revenues from contracts with customers of NOK 330 million in the fourth quarter of 2025, down 20% versus the same quarter last year. Total revenue and income was NOK 361 million (Q4 2024: 450) and EBITDA in the quarter came in at NOK -36 million, flat vs last quarter and the corresponding quarter last year. The PEM division continues to show promising signs with improved financials and substantial uptick in order intake. Order intake for the quarter was NOK 686 million, and at the end of the quarter the order backlog stood at NOK 1,319 million, up 34% from Q3’25. The company reported a healthy cash balance of about NOK 1.6 billion.

Quarterly highlights

Revenue from contracts with customers in the fourth quarter 2025 was NOK 330 million, a 20% reduction compared to the fourth quarter 2024 (Q4 2024: 416)
Total revenue and income in the fourth quarter 2025 was NOK 361 million (Q4 2024: 450)
EBITDA in the quarter was NOK -36 million (Q4 2024: -36)
Net loss was NOK -870 million (Q4 2024: -64). The loss was mainly explained by an impairment of NOK 799 million, of which NOK 439 million in PEM and NOK 361 million in Alkaline
Order intake in the quarter amounted to NOK 686 million, a 364% increase from the corresponding quarter last year (Q4 2024: 148)
Order backlog was NOK 1 319 million at the end of the quarter, down 18% from the fourth quarter of 2024 and up 34% from the previous quarter
Cash balance was NOK 1 617 million at quarter end (Q4 2024: 1 876)
“2025 was a demanding year. Yet it was far from a lost year. In many respects it became a turning point. In Nel we saw steady progress where it mattered, closer collaboration with key partners, and technology advances that bring competitive clean hydrogen within reach.” Håkon Volldal says.

“Final investment decisions took longer, project milestones shifted, and revenues declined compared to last year,” says Håkon Volldal, President and CEO of Nel. ”At the same time, production capacity and operating expenses were reduced early on so we ended the year with a solid cash position and good cash control, something that allows us to stay focused on monetizing our innovations rather than adapting to short term market fluctuations.”

“2025 was a year with steady, disciplined work. Much of it invisible. Much of it not fun. But all of it necessary for long-term success,” he says.

Information Source: Read More

Oilandgaspress ,Oil and Gas , Energy , Climate, Gas,Renewable, Sustainability, Oil Price, LPG, photovoltaic, wind, solar thermal, hydropower, biomass.