on HYDROGEN REFUELING (EPA:ALHRS)
HRS closes investment round and turns international
Hydrogen Refueling Solutions (HRS), the European leader in hydrogen refueling stations, has published its annual results for 2023/2024. The company has completed its major investment cycle, strengthening its market position with 27 stations installed and 29 more to come. Revenue for 2023/2024 stands at €24.8m, down on the previous year, but HRS anticipates growth of €30-40m for 2024/2025.
The company is focusing on product innovation and international expansion, including its US subsidiary planned for the end of 2024. HRS also inaugurated its first station in Saudi Arabia, marking a step forward in its global strategy. In parallel, HRS is focusing on recurring revenue from maintenance contracts.
Although the financial results show a loss of €10.4 million, HRS has an order book of €47 million and a commercial pipeline of €343 million. The company remains confident in its ability to capture opportunities in the growing international hydrogen market.
R. P.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all HYDROGEN REFUELING news