Nel ASA: Fourth quarter 2020 financial results
(Oslo, 18 February 2021) Nel ASA (Nel) reported revenues of NOK 229.1 million in the fourth quarter of 2020, up from NOK 175.9 million in the same quarter of 2019 and an EBITDA of negative NOK 96.2 million (Q4 2019: -41.7) incl. one-offs, ramp-up cost and a NOK 20 million provision for a potential fine. The order backlog ended at approximately NOK 980 million, up 90%, and the company holds over NOK 2.3 billion in cash. Nel has outlined a target of producing green hydrogen at USD 1.5 per kilo* by 2025, outcompeting fossil alternatives, and reiterates the strong long-term outlook. “The