Green Hydrogen Systems – Interim Report for H1 2024

Company Announcement August 2024 Green Hydrogen Systems – Interim Report for H1 2024Business highlights In the first half of 2024, total revenue, including service revenue, reached DKK 32.6 million. H1 2023 total revenue was DKK 14.0 million. In H1 2024, six electrolyser units passed factory acceptance test and were delivered at customer sites in Sweden, Germany, The Netherlands, and the United Kingdom. In addition, two electrolyser units have passed factory acceptance test after...

Kolding, 27/08/2024 (informazione.news - comunicati stampa - economia)

Company Announcement August 2024

Green Hydrogen Systems – Interim Report for H1 2024

Business highlights

Peter Friis, CEO of Green Hydrogen Systems, says:

“We are pleased to report a sustained increase in customer deliveries and revenue growth throughout the first half of 2024, despite a challenged market. Equally important, we have achieved several technical milestones for our X-Series electrolyser and are steadily progressing towards securing our first binding customer agreements.”

Guidance for 2024

Green Hydrogen Systems maintains the guidance for 2024 as announced on 8 February 2024 (company announcement 04/2024).

Guidance for 2024 is summarised as follows:

Revenue, DKK 125 to 165 million
EBITDA, DKK -260 to -220 million
CAPEX, DKK 160 to 200 million

The revenue guidance range reflects the uncertainty of the exact timing of the electrolysers passing revenue recognition criteria within the 2024 calendar year. Furthermore, the exact delivery, site acceptance test (SAT), revenue recognition, and EBITDA may be negatively impacted by, e.g., supply chain disruptions, increasing component and raw material costs, general inflation, delays in product assembly and pandemics.

Conference call details

In connection with this announcement, Green Hydrogen Systems will host a conference call. The conference call will be held on 27 August 2024 at 10:00 AM CET.

Please visit investor.greenhydrogen.dk to access the presentation used for the meeting.

Link to the webcast

Denmark: +45 89 87 50 45

Norway: +47 815 03 308

Germany: +49 32 221098334

United Kingdom: +44 20 3936 2999

Participant access code: 665257

For more info, please contact:

Media: Lene Rode, Head of Communication & External Relations, +45 4085 2619, lro@greenhydrogen.dk
Investors: Ole Vesterbæk, CFO, +45 2053 0031, ove@greenhydrogen.dk 

Green Hydrogen Systems in Brief

Green Hydrogen Systems is a clean technology company and a leading provider of standardised, modular electrolysers for producing green hydrogen based on renewable energy. Green hydrogen plays a crucial role in the ongoing fundamental shift in energy systems towards net-zero emissions in 2050. Founded in 2007 and building on years of technology development, Green Hydrogen Systems has a commercially proven and cost-competitive electrolysis technology endorsed by leading green energy companies. 

Forward-looking statements

This announcement contains forward-looking statements. Words such as 'believe', 'expect', 'may', 'will', 'plan', 'strategy', 'prospect', 'foresee', 'estimate', 'project', 'anticipate', 'can', 'intend', 'outlook', 'guidance', 'target' and other words and terms of similar meaning in connection with any discussion of future operating or financial performance identify forward-looking statements. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the outlook set forth. Furthermore, some of these expectations are based on assumptions regarding future events, which may prove incorrect.

Please also refer to the overview of risk factors in the Annual Report 2023, available at greenhydrogen.dk.

Source: Green Hydrogen Systems
Ticker: GREENH
Tag: Company announcement

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