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Green Hydrogen Systems (GREENH) investor relations material
Green Hydrogen Systems Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
René Umlauft appointed as new CEO effective November 1, bringing significant transformation experience; new CFO Michael Kaalund also appointed.
Major restructuring and cost reduction program launched, targeting a 40–50% reduction in production and operational costs.
Strategic shift to focus exclusively on X-Series electrolyzers, with A-Series sales discontinued and final deliveries by Q1 2025.
Challenging market conditions and organizational restructuring underway.
Seeking up to DKK 300 million in new capital to address covenant breaches and capital depletion risk.
Financial highlights
Q3 2024 year-to-date revenue: DKK 66.2 million, up from DKK 17.0 million year-over-year.
EBITDA for Q3 2024 YTD: DKK -191.5 million, improved from DKK -205 million last year.
CapEx for Q3 2024 YTD: DKK 99.4 million, down from just below DKK 200 million last year.
Q3 2024 EBIT at DKK -283.1 million and net loss at DKK -296.6 million, both improved year-over-year.
Cash and cash equivalents at DKK 574.5 million at quarter-end.
Outlook and guidance
2024 revenue guidance: DKK 105–145 million.
2024 EBITDA guidance: DKK -260 to -220 million excluding restructuring; DKK -400 to -300 million including restructuring.
2024 CapEx guidance: DKK 130–160 million.
Mid- and long-term targets suspended; updates expected with 2024 annual report.
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