Enapter reports five-fold jump in H1 order intake

German electrolyser manufacturer Enapter AG (FRA:H2O) said on Tuesday that it has secured orders worth EUR 23.4 million (USD 25.8m) in the first half of 2024 compared with just EUR 4.6 million in the same period of 2023.

As a result, the order backlog rose significantly, reaching EUR 40.8 million.

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The company has received new orders for megawatt-class devices from Germany, Europe, Asia, the US and, above all, Italy. Enapter mainly sees as a growth driver a government-funded initiative in Italy, which aims at the establishment of hydrogen centres in 52 regions.

Sales of the electrolyser manufacturer increased to EUR 8.3 million in the first six months of 2024 from EUR 4.8 million a year earlier. Thanks to the development, the company was able to limit its loss before interest, tax, depreciation and amortisation to EUR 3 million from EUR 7 million. The net loss was narrowed to EUR 8 million from EUR 9.95 million.

Based on the performance, Enapter reiterated its guidance for full-year revenue of about EUR 34 million and a loss before interest, tax, depreciation and amortisation of between EUR 7 million and EUR 8 million.

(EUR 1 = USD 1.103)