Nel ASA: Fourth quarter and full year 2023 financial results
(February 28, 2024 - Oslo, Norway) Nel ASA (Nel, OSE:NEL) reported revenues of NOK 1 773 million in 2023, up 78% from 2022. Fourth quarter 2023 revenues of NOK 534 million represented a 29% increase from NOK 414 million in fourth quarter 2022. EBITDA in the quarter came in at NOK -106 million, showing a steady improvement from previous quarters and proving that the business model scales. At the end of the fourth quarter, Nel’s order backlog was NOK 2 458 million, down 6% year-on-year. The cash balance was NOK 3 363 million at quarter end. Quarterly highlights · Nel ASA (Nel)