Nel Asa (NLLSF) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.316 Good morning from Oslo, Norway. We are ready to present 00:00:05.316 -- 00:00:10.681 our second quarter 2026 results. My name is Hakon Volldal. 00:00:10.681 -- 00:00:16.586 I am the CEO of Nell, and I'm joined today by our CFO, Kjell Christian Bjornsen, 00:00:16.586 -- 00:00:23.210 and our Head of Communication, Marketing, and Investor Relations, Wilhelm Flinder. 00:00:25.134 -- 00:00:30.358 We have the following agenda. Nell in brief, we will skip and we will go 00:00:30.358 -- 00:00:35.440 to the second quarter highlights, followed by a commercial update, a technology 00:00:35.440 -- 00:00:40.361 update, and as usual, end with the Q&A session. 00:00:43.223 -- 00:00:48.385 In the second quarter, we generated 153 million NOK 00:00:48.385 -- 00:00:53.507 from contracts with customers. We ended the quarter with a negative EBITDA 00:00:53.507 -- 00:00:55.747 of 155 million. 00:00:57.260 -- 00:01:02.321 The order intake ended at 230 million NOK, order backlog 00:01:02.321 -- 00:01:08.283 at 1.2 billion NOK, and the cash balance at 1.3 billion NOK. 00:01:08.283 -- 00:01:12.004 Some of the highlights in the quarter 00:01:12.004 -- 00:01:16.786 were the following. We launched our new pressurized out-of-line platform, what we call 00:01:16.786 -- 00:01:23.367 the PA series, on May 8th. We'll come back to that later. 00:01:23.391 -- 00:01:25.092 We also 00:01:25.092 -- 00:01:30.755 progressed the new manufacturing line for this technology at Herøya, according to plan, 00:01:30.755 -- 00:01:35.938 and we received two purchase orders for containerized PEM solutions, each worth 00:01:35.938 -- 00:01:39.879 approximately $7 million. Looking 00:01:42.582 -- 00:01:45.443 at the group financials, 00:01:45.443 -- 00:01:50.665 revenue from contracts...