NOTE: NEL ANNOUNCED PRELIMINARY Q4 2019 FIGURES IN THE TRADING UPDATE
(
"As we communicated in the trading update, when conducting the private placement in
Nel reported revenues in the fourth quarter of 2019 of
Markets in which Nel operates show high activity and strong growth momentum, making it increasingly important to be a financially strong counterpart, especially for larger contracts. Nel targets to maintain its current leading position in the electrolysis sector, continuing to develop both PEM and alkaline technologies to satisfy specific customer needs and preferences.
"The hydrogen market is expected to grow significantly, and renewable hydrogen is on a trajectory to outcompete fossil hydrogen. There is an increased adoption of industrial hydrogen applications with huge overall potential. In addition, there is a strong momentum within mobility and especially within heavy-duty-vehicles. Hydrogen as the preferred future fuel alternative will facilitate true zero emission from production to use. Nel is in a sweet spot to capitalise on these developments and we are reiterating our positive outlook", says Løkke.
EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the fourth quarter 2019 report on page 20. Reported EBITDA in the fourth quarter was
Nel will host a presentation at
The fourth quarter 2019 report and presentation are enclosed and available through www.newsweb.no (Ticker: NEL) and www.nelhydrogen.com
ENDS
For further information, please contact:
Jon André Løkke, CEO,
About
Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. We serve industries, energy, and gas companies with leading hydrogen technology. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.
https://news.cision.com/nel-asa/r/nel-asa--fourth-quarter-2019-financial-results,c3052788
https://mb.cision.com/Main/115/3052788/1205913.pdf
https://mb.cision.com/Public/115/3052788/a573d8bf7e019759.pdf
https://mb.cision.com/Public/115/3052788/bbcc8b2add4c680f.pdf
(c) 2020 Cision. All rights reserved., source