Nel ASA reports third quarter 2019 results

Nel has reported all-time high revenues of NOK 148.9m ($16m), in the third quarter of 2019, up from NOK 116m ($13m) in third quarter of 2018.

The hydrogen company’s order backlog for the quarter grew 58%, compared to the end of the third quarter of 2018.

“Nel experienced another busy quarter with a 38% topline growth, in line with company outlook, and a high level of new business development activities,” said Jon André Løkke, Nel CEO.

“These initiatives contributed to another quarter of securing a record high backlog and together with a strong market outlook, this provide a solid foundation for 2020 and beyond.”

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