Renewable-Energy-Industry.com

Business World of Renewable Energy

Nordex Turkey 14042016 1280 256

Share Slumps: Nel ASA With Weak Figures For Fiscal Year 2021

Oslo, Norway - Norwegian hydrogen company Nel ASA has reported financial results for 2021. Global travel restrictions, supply chain disruptions and extraordinary measures related to the Covid 19 pandemic have weighed on the company.

Revenue climbed 22 percent to NOK 798 million (EUR 79.8 million) in 2021 compared to NOK 652 million in 2020. Nel was able to increase its order backlog to NOK 1,230 million (EUR 123 million) by the end of 2021. The cash balance at the end of 2021 is NOK 2,723 million (272 million euros), higher than in 2020 (NOK 2,333 million). The reason for the increase is the capital increase carried out in February 2021.On balance, Nel ASA reports a net loss of NOK - 1,667 million (approx. 167 million euros) for fiscal 2021.

The share price fell significantly on Friday and exits trading with a loss of over 5 percent to 1.57 euros. The share is also under pressure in early trading today (28.03.2022).



Source: IWR Online, 28 Mar 2022

 


Companies