Green Hydrogen Systems: Trading statement Q3

Company Announcement October 2024 Green Hydrogen Systems: Trading statement Q3Highlights Business  In Q3 2024, Green Hydrogen Systems completed the performance test of the A-Series MK1.1 and delivered the first unit to GeoPura in Nottinghamshire, Ireland. Another A180 unit (MK1.0) was delivered to Ercross in Spain, and two A90 (MK1.0) units were delivered to PRF in Portugal. Revenue totaling DKK 33,7 million was recognised during the quarter.On October 9, Green Hydrogen...

Kolding, 30/10/2024 (informazione.it - comunicati stampa - economia)

Company Announcement October 2024

Green Hydrogen Systems: Trading statement Q3

Highlights 

Business  

People & Organisation  

Guidance  

Thomas Broe-Andersen, chairman of Green Hydrogen Systems' Board of Directors, says:
“Q3 has been a challenging period for Green Hydrogen Systems . With the current situation, Green Hydrogen Systems is facing, we need to execute a different strategy with the purpose of ensuring a sustainable and profitable future for Green Hydrogen Systems. On behalf of the board of directors, I would like to thank Peter Friis for his work and contribution as CEO of Green Hydrogen Systems since 2023. We have agreed to let another profile execute the important coming tasks we will be initiating in this turnaround of the company. We see René Umlauft as the right profile to take over as CEO with competencies from complex industries within the green transition as well as significant business transformation and restructuring experience. Alongside the Board of Directors, René Umlauft will be an important part ensuring a solid foundation for the future.”

René Umlauft, new CEO of Green Hydrogen Systems, says:
“I look forward to take on the position of CEO in Green Hydrogen Systems and get the opportunity to contribute in navigating through the current challenges with my experience and knowhow as CEO from a number of global companies. With the latest strategic decisions from the Board of Directors, I am convinced the company will have a strong future within this important industry, and I look forward to taking on this task alongside my new, talented colleagues.”

Guidance for 2024
Revenue, DKK 105 to 145 million
EBITDA, DKK -260 to -220 million

EBITDA incl. restructuring costs, DKK -400 to -300 million
CAPEX, DKK 130 to 160 million

The revenue guidance range reflects the delay of commercial traction, and the risk of cancellations related to the combined cost-out and restructuring program.

Conference call details

In connection with this announcement, Green Hydrogen Systems will host a conference call. The conference call will be held on 30 October 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: 544736

For more info, please contact:

Lene Rode, Head of Communications & External Relations, +45 4085 2619,  lro@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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