Nel ASA: First quarter 2021 financial results
(Oslo, 4 May 2021) Nel ASA (Nel) reported revenues of NOK 156.9 million in the first quarter of 2021, up 24% from NOK 126.5 million in the same quarter of 2020. EBITDA is negative NOK 74.3 million (Q1 2020: -64.6) incl. one-offs and ramp-up cost. The order backlog ended at a record NOK 1085 million, up more than 80%, while the cash balance ended at NOK 3.25 billion. Nel reiterates the strong long-term outlook. “The first quarter marks the start of an important year for the Nel and the industry, as we are moving from ambition to deliveries. While our short-term operations, production,