#Norway #Oslo #hydrogen fueling #Q2 2025 #Cavendish Hydrogen

Cavendish Hydrogen ASA Reports Q2 2025 Results

Cavendish Hydrogen ASA, listed on Oslo Børs under the ticker CAVEN, released its financial results for the second quarter of 2025, marking a pivotal moment amid significant market challenges and opportunities. The company reported revenues of approximately EUR 5.6 million, which represents a considerable 39% decline compared to the same quarter last year, but a strong rebound, showing a 51% increase from the previous quarter.

Financial Highlights

In terms of earnings before interest, taxes, depreciation, and amortization (EBITDA), the company experienced a loss of EUR 4.6 million for Q2 2025. Despite this loss, it showed improvement of 32% year-over-year and 35% quarter-over-quarter. At the end of the quarter, Cavendish had a robust cash position with EUR 28.7 million, ensuring financial stability for ongoing operations and future projects.

New Developments in California

A key factor in Cavendish's recent performance was the successful launch of two new hydrogen fueling stations in California, in partnership with a major U.S. customer. These stations, located in Moreno Valley and Vacaville, are designed to set industry standards in performance. Since their opening, they have shown an impressive operational availability of nearly 100% and have completed over 3,225 fuelings. To date, these stations contributed to dispensing a remarkable 298,000 kg of hydrogen, setting an all-time high for the company.

CEO Robert Borin commented on the quarter's performance, stating, "The developments this past quarter unfolded largely as anticipated, underscoring our consistent strategic execution despite navigating a challenging market landscape. The operational momentum we’re witnessing is notable. The new stations have proven their reliability and are already reflecting growing demand for our services."

Market Outlook

Looking ahead, Cavendish has expressed a cautious outlook for the remainder of the year, anticipating revenue for the second half to slightly trail the first half's performance. Nonetheless, the company remains optimistic about the long-term prospects for hydrogen fueling, particularly within the heavy-duty transportation sector. The strategic initiatives undertaken, along with the recent expansion in California, position Cavendish favorably to leverage the future demand for clean energy solutions.

Growth Strategy

In a bid to bolster its strategic framework for growth, Cavendish has also appointed a new Chief Commercial Officer. This leadership change is aimed at accelerating sales and capitalizing on burgeoning opportunities in the hydrogen sector, particularly amidst ongoing environmental concerns and shifts towards sustainable energy. As the company navigates these adjustments, it is dedicated to refining its operations and enhancing customer satisfaction through innovative technology.

Conclusion

Overall, while the Q2 2025 results reflect both the challenges and opportunities that lie ahead for Cavendish Hydrogen ASA, the company’s commitment to expanding its infrastructure and enhancing service offerings underscores its place in the evolving energy landscape. Stakeholders and potential investors eagerly await further updates as Cavendish prepares for its Q2 presentation via a live webcast, where additional insights will be shared, contributing to a transparent dialogue about its future direction and goals.