Nel Asa (NLLSF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.380 Good morning from sunny Oslo. We are ready to present Nell's 00:00:05.380 -- 00:00:09.527 second quarter 2025 results. My name is Håkon Voldahl. 00:00:09.527 -- 00:00:14.536 I am the CEO. With me today, I have our CFO, Kjell-Christian Bjørnsen, and 00:00:14.536 -- 00:00:19.561 our head of IR and communication, Vilhelm Flinders. 00:00:21.715 -- 00:00:25.584 We have the following agenda. I'll skip the nailing brief section today. 00:00:25.584 -- 00:00:29.192 We will focus on the second quarter 2025 highlights. 00:00:29.192 -- 00:00:34.344 We'll have a commercial update, a technology update, and as usual at the end, 00:00:34.344 -- 00:00:36.965 a Q&A session. 00:00:40.818 -- 00:00:46.247 The quarterly highlights are as follows. We had the revenue from contracts with customers 00:00:46.247 -- 00:00:51.816 of 174 million NOC. We had a negative EBITDA of 86 00:00:51.816 -- 00:00:55.782 million NOC. Order intake, 71 million NOC. 00:00:55.782 -- 00:00:59.164 Order backlog ended at 1.25 00:00:59.227 -- 00:01:03.194 billion NOC. And the cash balance at 1.9 00:01:03.194 -- 00:01:08.458 billion NOC. Among the highlights in the second quarter, we, our partners, 00:01:08.458 -- 00:01:13.504 Samsung E&A, launched its COMPASS H2 hydrogen plant solution with 00:01:13.504 -- 00:01:18.770 Nel Insight. Statcraft canceled, unfortunately, the 40 megawatt alkaline 00:01:18.770 -- 00:01:22.833 electrolyzer contract they signed back in 2022. 00:01:23.396 -- 00:01:28.663 And we also signed an MOU with High Point to co-develop modular hydrogen systems 00:01:28.663 -- 00:01:32.485 for offshore and nearshore environments. 00:01:34.413 -- 00:01:39.741 Looking at the group financials, we are more or less spot 00:01:39.741 -- 00:01:44.870 on. Analyst consensus fo...