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Enapter achieves positive EBITDA for the first time in the company’s history

According to preliminary figures, Enapter AG generated sales of €31.5 MM in the 2023 financial year, compared to €14.7 MM in the previous year (+114%). EBITDA totaled around €0.4 MM (previous year: –€10.58 MM) and the net loss for the year was around –€7.1 MM (previous year: –€12.98 MM).

The order backlog at the end of 2023 totaled around €26 MM, of which around €14 MM fell into the 2024 financial year.

In addition, customer enquiries for the 2023 financial year add up to a total of around €1.6 B. Demand for the AEM multicore class has increased significantly: Devices in the megawatt range now account for around 95% of total enquiries. In autumn 2023, the share was still 85%. The very large share of the AEM multicore class in the overall demand for AEM electrolyzers reflects the significant growth in demand from industry and logistics for solutions for large quantities of green H2. The competitive advantages of the patented AEM technology include its scalability, modular design and the fact that it does not require rare and expensive materials in production. In particular, iridium, the world market price of which fluctuates greatly due to a short supply, is not used in Enapter’s electrolysers.

Dr Jürgen Laakmann, CEO of Enapter said, “According to the preliminary figures, 2023 was the most successful year in Enapter’s history to date. We are particularly pleased that we achieved a balanced EBITDA for the first time. In our view, the result and the good order situation confirm that Enapter will make a significant contribution to the global decarbonization of energy generation and industry with its iridium-free and thus future-proof modular electrolysers. Our focus is now on opening up new markets with our proven AEM technology and thus generating further growth potential.”

The aforementioned preliminary result is based on the preliminary valuation of the past financial year 2023 carried out by the Executive Board on February 5, 2024. The figures stated in this announcement are subject to the final preparation of the annual financial statements, the audit of the annual financial statements and the approval of the annual financial statements by the Supervisory Board.