© Enapter
© Enapter

Enapter reports first positive EBITDA in preliminary 2023 results

German AEM electrolyser firm Enapter has reported a positive EBITDA for the first time in its history.

According to its preliminary financial year (FY) 2023 results, the company’s EBITDA totalled €0.4m ($0.43m), up from -€10.58m (-$11.35m) in the previous year.

Enapter also experienced improvements in its sales, generating €31.5m ($33.8m) in 2023 compared to €14.7m ($15.8m) in 2022. Additionally, its net losses narrowed from -€12.98m (-$13.9m) to -€7.1m (-$7.6m).

With an order backlog at the end of 2023 totalling €26m ($27.9m), €14m ($15m) fell into the 2024 financial year.

According to the early figures, Dr. Jürgen Laakmann, CEO of Enapter, said 2023 was the “most successful year” in the company’s history. However, the figures are subject to final preparation, auditing and approval.

The company has said customer enquiries throughout 2023 totalled €1.3bn ($1.39bn), with demand for its AEM multicore class electrolyser increasing “significantly,” and in the autumn held an 85% share.

Unveiled in May 2023, the megawatt-class multicore electrolyser features 420 core modules, offering a production capacity of 450kg of hydrogen per day.

Read more: Enapter unveils the AEM multicore electrolyser

“In our view, the result and the good order situation confirm that Enapter will make a significant contribution to the global decarbonisation of energy generation and industry with its iridium-free and thus future-proof modular electrolysers,” Laakman said.

“Our focus is now on opening up new markets with our proven AEM technology and thus generating further growth potential.”

In January 2023, Enapter revealed record deliveries and a 75% revenue increase in its fourth quarterly report of 2022.

Read more: Enapter announces record electrolyser deliveries and 75% revenue increases

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