Norwegian hydrogen company Nel reported lower-than-expected sales for the first quarter. Operating profit was worse than expected.

Revenue fell 43.8 percent to NOK 155 million (276). The outcome can be compared with the company's analyst consensus of 245.

EBITDA was NOK -115 million (32), compared with an expected NOK -81 million.

Operating profit was NOK -187 million (-13), compared with an expected operating profit of NOK -139.

Profit after tax was NOK -179 million (39), compared with the analyst consensus of NOK -119 million.

Order intake landed at NOK 311 million (398).

The comparative figures have been restated and relate to continuing operations.

Nel, MNOKQ1-2025 ConsensusChange vs. consensusQ1 Change
Order intake 31 398 -
Net sales 155 245 -36.7 276 -
EBITDA-115 -81 32
EBITDA margin 11
Operating profit- - -
Net profit- - 39
Consensus data from the company