HydrogenPro ASA (OSL:HYPRO)

kr 11.78 -0.26 (-2.16%) Market Cap: 826.03 Mil Enterprise Value: 659.02 Mil PE Ratio: 0 PB Ratio: 1.80 GF Score: 58/100

Q1 2024 Hydrogenpro ASA Earnings Call Transcript

May 07, 2024 / 08:00AM GMT

Release Date Price: kr10.26 (-11.70%)

Transcript

Jarle Dragvik

Hydrogenpro ASA - Chief Executive Officer

Good morning, and welcome to HydrogenPro's quarter one 2024 presentation. Today, I'm accompanied by CFO, Martin Holtet; and CTO, Odd-Arne Lorentsen. Contractually and on FID rewards, Q1 can appear like a quiet quarter. On the sales side however, it has still been high activity level on answering out tender requests and customer negotiations.

In line with previous communications, Q1 was for HydrogenPro what I would describe as a intermediate quarter between deliveries from completing ACES project and starting up Andritz and Salzgitter production and delivery. Of recent achievements, it was secured a strategic investment by Andritz of NOK82.7 million. The general assembly elected a new Board, chaired by Dag Opedal. The cash balance ending quarter one NOK185 million, up NOK24 million. This is not including proceeds from the Andritz investment. It goes without saying, I would mention that there are therefore, no immediate plans for raising capital.

The US buildup is showing positive results with an awarded FEED study of 300 megawatt.

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