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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Green Hydrogen Systems AS | TG:3LUA | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.035 | -2.82% | 1.205 | 1.172 | 1.201 | 1.215 | 1.205 | 1.215 | 146 | 15:41:17 |
Company Announcement 06/2024
Green Hydrogen Systems – Annual report 2023
Business highlights 2023
Financial highlights 2023
Business events after 31 December 2023
Guidance for 2024
With continued momentum in customer deliveries of A-Series and encouraging progress in the X-Series prototype test programme, 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 millionEBITDA, DKK -260 to -220 millionCAPEX, 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.
Peter Friis, CEO of Green Hydrogen Systems, says:
“On the surface, 2023 was a year of technical and supply chain challenges, delayed deliveries, and not meeting our targets. Looking deeper below the headlines, we see that 2023 was a year of progress.
We continued to improve our A-Series product based on operational learnings from on-site production hours. We progressed with testing and developing a new X-Series product, now heading for commercial launch. We ramped up our production of stacks, balance of plants, and full electrolyser systems. We also secured an oversubscribed capital raise to fund our continued growth while simultaneously strengthening our commercial position, a position confirmed with the new order intake from an existing customer announced early in 2024. On the organisational side, we strengthened our capabilities across the board, and from my personal perspective, I was glad to take the position of CEO in October 2023. Despite the headwinds we faced in 2023, we moved our company forward in several areas. We are certain this improved position will pay off in 2024.”
Conference call details
In connection with this announcement, Green Hydrogen Systems will host a conference call. The conference call will be held on 15 March 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: 927687
For more info, please contact:Jesper Buhl, Head of External Relations, +45 5351 5295, jbu@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 SystemsTicker: GREENHTag: Company announcement
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