Nel ASA: Third quarter 2020 financial results
(Oslo, 5 November 2020) Nel ASA (Nel) reported revenues of NOK 147.7 million in the third quarter of 2020, slightly down from NOK 148.9 million in the same quarter of 2019 and an EBITDA of negative NOK 42.1 million. The order backlog ended at approximately NOK 940 million and the company holds approximately NOK 2.5 billion in cash. Nel reiterates the strong long-term outlook. “The markets in which we operate continue to show high activity and strong growth momentum, in addition to significant governmental interest for developing green energy infrastructure and industries post Covid-19.