Cavendish Hydrogen ASA Reports Q2 2025 Results
Cavendish Hydrogen ASA (Oslo Børs ticker: CAVEN) has shared its financial results for the second quarter. The company reported revenues amounting to EUR 5.6 million for the period, experiencing a significant decrease of 39 percent compared to the same quarter last year, yet achieving a robust growth of 51 percent from the previous quarter.
Q2 2025 Highlights
Several key points from the second quarter showcase the company's performance:
- Revenue for the quarter was EUR 5.6 million, reflecting a year-on-year decline of 39 percent, but showed a significant uptick of 51 percent compared to the first quarter.
- The company’s EBITDA result stood at EUR -4.6 million, which indicates an improvement of 32 percent year-on-year and a 35 percent increase from the prior quarter.
- At the end of Q2, Cavendish's cash position was strong, with EUR 28.7 million available.
- During this quarter, two new hydrogen fueling stations were established, marking a significant step in collaboration with a prominent US client.
- An impressive total of 298,000 kg of hydrogen was dispensed at Cavendish fueling stations over this quarter, setting a new record.
- A new Chief Commercial Officer has been appointed to further bolster the company's growth strategy.
CEO's Perspective on Performance
Reflecting on Cavendish's second quarter, CEO Robert Borin expressed optimism, stating, "This past quarter unfolded largely as expected, demonstrating steady strategic execution in a challenging but exciting market environment. The momentum in our operations stands out. In the US, we have successfully opened new fueling stations with a major customer. These locations have shown strong reliability and performance. Since launch, the stations are operating near 100 percent availability, having completed over 3,225 vehicle fuelings, and dispensing approximately 8,740 kg of hydrogen to date, marking a distinctive achievement across our network.
Market Outlook
Looking ahead, Cavendish anticipates that the group revenue for the latter half of this year may be lower than what was seen in the first half. While the short-term forecast is cautious, the company remains optimistic regarding the long-term prospects of hydrogen fueling solutions, particularly in the heavy-duty transportation sector.
Further Information
Cavendish is set to present its Q2 results via a live webcast, inviting participants to join and engage in a Q&A session. For those seeking additional details or wishing to access the full report, Cavendish encourages viewers to visit their official website.
For inquiries, please reach out to:
Mirza Koristovic
Head of Investor Relations
IR@cavendishh2.com
+47 938 70 525
Frequently Asked Questions
What were Cavendish Hydrogen ASA's main challenges in Q2 2025?
The company experienced a decline in year-over-year revenue, although quarterly performance showed significant recovery.
How much hydrogen was dispensed by Cavendish in Q2 2025?
Cavendish dispensed a total of 298,000 kg of hydrogen, achieving an all-time high.
What is the expectation for Cavendish's revenue performance?
Cavendish expects lower revenue in the second half of the year compared to the first half but remains optimistic about long-term growth.
What strategic moves has Cavendish made in the US market?
Two new fueling stations have been opened with a major customer, enhancing the company’s presence in the US hydrogen market.
Who can be contacted for more information regarding Cavendish?
For investor relations or inquiries, Mirza Koristovic can be contacted at IR@cavendishh2.com.
