Nel ASA: Second quarter 2020 financial results
(Oslo, 26 August 2020) Nel ASA (Nel) reported revenues of NOK 148.6 million in the second quarter of 2020, up from NOK 122.5 million in the same quarter of 2019 and an adjusted EBITDA of negative NOK 22.3 million. The order backlog grew 75% to over NOK one billion and the company holds more than NOK 2.5 billion in cash. Nel reiterates the long-term outlook. “We are relatively happy with the second quarter revenue growth and an all-time high order intake, despite the Covid-19 situation. The markets in which we operate continue to show high activity and growth momentum, in addition to