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HydrogenPro ASA

HydrogenPro ASA

HYPRO.OL
HydrogenPro ASANO flagOslo Stock Exchange
0.81
NOK
+0.06
- -
77.12MMarket Cap
HydrogenPro ASA
HYPRO.OL
(Oslo Stock Exchange)

Recent

price

0.81

P/E

ratio

- -

div

yld

- -

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
0.19
0.45
0.6
0.35
0.97
9.48
2.87
0.98
0.88
Revenue per Share
-0.12
-0.23
-0.36
-0.98
-1.89
-1.08
-2.87
-2.64
-2.42
Basic EPS, GAAP
-0.15
- -
-1.25
-1.33
-1.45
-3.45
-0.69
-2.52
-1.94
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
-0.25
-0.35
-0.8
-1.6
-3.76
-4.72
0.02
0.02
0.02
Book Value per Share
-0.32
-0.39
10.63
8.03
5.71
6.6
4.28
2.25
1.69
Tangible Book Value per Share
56
56
44
58
58
60
68
88
89
Basic Weighted Avg Shares
10
25
27
20
56
568
196
87
78
Sales/Revenue/Turnover
-72.43
-58.06
-22.32
-301.76
-211.37
-10.26
-115.9
-247.91
-251.35
Operating Margin (%)
- -
- -
- -
5
14
22
23
22
22
Depreciation Expense
-7
-13
-16
-56
-109
-65
-196
-233
-216
Net Income, GAAP
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
-65.6
-51.16
-59.81
-281.66
-194.01
-11.35
-100.19
-269.03
-275.6
Profit Margin (%)
6
1
468
388
235
290
170
74
34
Working Capital
24
23
- -
1
11
11
12
11
11
LT Debt
-14
-8
516
511
396
453
348
247
195
Total Equity
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
-14,076.99
-12,099.66
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
5
6
4
LT Borrowings
- -
- -
- -
LT Finance Leases
9
11
11
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
96
96
96
Market Capitalization
256
170
151

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
297
173
126
Cash, Cash Equivalents & STI
121
102
56
Accounts Receivable, Net
123
3
10
Inventories
23
21
17
Total Current Liabilities
175
99
91
Payables & Accruals
- -
- -
- -
ST Debt
5
6
4
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-12.24%
-29.14%
Free Cash Flow
- -
98.05%
373.98%
Net Income, GAAP
- -
105.83%
18.9%
Sales/Revenue/Turnover
- -
188.52%
-55.72%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4
50
72
70
196
2025
22
12
34
16
87
2026
16
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.69
-1.32
-0.56
-0.54
-2.87
2025
-0.76
-0.92
-0.63
-0.48
-2.64
2026
-0.43
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
HydrogenPro ASA designs, engineers and supplies large-scale alkaline electrolyzer technology plants and systems for green hydrogen production to industrial clients worldwide. The Norway-based company, founded in 2013 and headquartered at Hydrovegen 55 in Porsgrunn, specializes in high-pressure alkaline electrolyzers featuring proprietary electrode technology; gas separation units; customized turn-key hydrogen production plants; R&D and FEED studies; and service and aftermarket support, all developed in cooperation with global partners and suppliers certified to ISO 9001, ISO 45001 and ISO 14001 standards. It targets applications including power-to-gas, refinery decarbonization, synthetic fuels, fertilizer and ammonia production, and steel manufacturing, with operations spanning Europe, the United States, Asia Pacific and other regions through R&D, sales and manufacturing facilities in Denmark, Germany, the US and China. HydrogenPro maintains strategic partnerships with industrial leaders such as ANDRITZ AG, Mitsubishi Heavy Industries Ltd. and, most recently, LONGi Hydrogen Technology (Xi'an) Co., Ltd., a subsidiary of LONGi Green Energy Technology Co., Ltd. In December 2024, the company secured NOK 70 million in equity from existing investors ANDRITZ and Mitsubishi via a private placement, alongside a conditional NOK 70 million investment and cooperation agreement with LONGi Hydrogen, subject to Chinese regulatory approval and expected to close in the first half of 2025 to support general corporate purposes, joint project bidding, product optimization and expanded manufacturing in China and Europe. Recent developments include the startup of a 350 MW manufacturing facility for third-generation electrode technology in Aarhus, Denmark; receipt of a EUR 16.5 million EU Innovation Fund grant in November 2024 for large-scale next-generation electrode production; completion of an electrode facility in Aarhus following the acquisition of intellectual property from Advanced Surface Plating ApS; establishment of a majority-owned joint venture with THM in Tianjin, China; listing on the main Oslo Stock Exchange in October 2024 (ticker: HYPRO.OL); ASME authorization in February 2024; and a landmark 220 MW purchase order from Mitsubishi for delivery in Utah, US.