Norwegian-based HydrogenPro has today (August 15) announced net profits of NOK 6m ($571,550) in its Q2 2023 results, up from a net loss of NOK 9m ($857,300) in the first quarter of the year.
The electrolyser manufacturer has also reported an “all-time high” revenue of NOK 137m ($13m) up from NOK 83.4m ($7.9m) and NOK 7.8m ($743,200) in Q1 2023 and Q2 2022 respectively.
EBITA also moved from NOK -15.8m (-$1.5m) in Q1 2023 to NOK -4.4m (-$419,200) in the second quarter, with its order backlog shrinking by NOK 100m ($9.5m) from NOK 648m ($61.7m) in Q1 to NOK 548m ($52.2m) in Q2.
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