By Dominic Chopping
Green Hydrogen Systems has revised its full-year revenue guidance due to further delays in the delivery of key components for some of its electrolysers. The company had previously warned about the potential risks to its guidance in its third-quarter trading statement, citing delays in the component supply chain, electrolyser product finalization, or factory acceptance tests.
Unfortunately, the risk materialized with the prolonged delays in the component supply chain, resulting in an adjustment to the expected electrolyser deliveries and revenue recognition for 2023. As a result, the revenue from the impacted electrolysers will now be pushed back to 2024.
Previously, Green Hydrogen Systems had projected a revenue range of between 120 million and 160 million Danish kroner ($4.4 million-$6.5 million) for 2023. However, with the revised guidance, the company now expects a lower revenue range of between 30 million and 45 million Danish kroner.
Despite the adjustment in revenue, the company’s earnings and capital expenditure guidance remain unchanged.
As of 1100 GMT, shares in Green Hydrogen Systems were trading 6.6% lower at DKK6.37.