EnergyWatch

Nel reports Q2 deficit from Everfuel shareholding, Covid-19

An unrealized loss resulting from a negative fair value adjustment of Nel's stake in Everfuel contributes heavily to the former's net deficit of EUR 30m in the second quarter.

Following an upscale in production facilities, Nel has booked a deep deficit in EBITDA for Q2 2021, but the result will be a game changer, says CEO Jon André Løkke. | Photo: PR / NEL

Norwegian hydrogen firm Nel exits the second quarter of 2021 with a net deficit of NOK 312m (EUR 29.9m) from a revenue post of merely NOK 164m.

The primary cause of such a deep dive on the bottom line, which came to NOK 597m in Q2 of 2020, is found in an unrealized loss resulting from a negative fair value adjustment of Nel's stake in Danish company Everfuel.

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