Danish electrolyser maker Green Hydrogen System has said its cost of restructuring has more than doubled, after revealing plans to discontinue a product and cut jobs.
The firm now expects to incur costs of DKK 215m ($29.6m) to 230m ($31.7m) after originally estimating DKK 100 ($13.8m) to 150m ($20.7m).
As a result, GHS has adjusted its FY2024 guidance to DKK -485m (-$66.9m) to -500m (-$69m) increasing from DKK -300m (-$41.4m) to -400m (-$55.2m). Excluding the restructuring costs, it said EBITDA would be DKK -260m (-$35.8m) to -275m (-$37.9m) from DKK -220m (-$30.3m) to -260m (-$35.8m).
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