Nel reports Q4 2019 results

Nel reports Q4 2019 results

Nel ASA has reported all-time high revenues of NOK 175.9m (€17m) in the fourth quarter (Q4) of 2019.

Adjusted EBITDA for the quarter was NOK -26.8m (€-2.6m), adjusted for non-recurring and other ramp-up costs, and the cash balance ended at NOK 526m (€50.7).

“As we communicated the trading update, when conducting the private placement in January 2020, the fourth quarter was another busy period for Nel and with a high level of new business development activities,” said Jon André Løkke, CEO at Nel.

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