Enapter cuts 2022 outlook due to delayed production of new electrolyser

German hydrogen generators maker Enapter AG (ETR:H2O) has slashed its revenue outlook for 2022 as the production start of its new anion exchange membrane (AEM) electrolyser will be delayed to September.

The company now expects its revenue to nearly double in 2022 to about EUR 15.6 million (USD 15.89m) from EUR 8.4 million last year, it said on Friday. The previous forecast was for a surge to EUR 44.7 million thanks to solid demand.

The revision was made after the Berlin-based manufacturer had to postpone the start of the production of its new AEM electrolyser 4 due to problems with the quality of some supplied components. The bottleneck for the corresponding components should be overcome by the end of August.

In 2022, Enapter expects its loss before interest, tax, depreciation and amortisation to expand to EUR 10.5 million from EUR 7.6 million in the prior year while the loss before interest and tax is seen to swell to EUR 12.5 million from EUR 8.6 million.

The company is currently building its factory in Saerbeck, North Rhine-Westphalia, which should eventually mass-produce 10,000 AEM electrolysers a month.

(EUR 1 = USD 1.019)

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