CAVENDISH HYDROGEN ASA
Sector unknown·CAVEN · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Hydrogen and Power-to-X
Technology
StrategyPositive impact: strengthens
“We will continue developing the High- Capacity Station to service the future market for heavy duty vehicles, while looking for partners to co-finance the pilot station and building of a test site.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“During 2024 investment activities was according to plan with significant efforts made in the development of the High-Capacity Hydrogen Refuelling Station.”
Annual report 2024A · The company itself
Market
“Nel acquires H2 Logic Second Generation 700 bar H2Station TM First office opens in California Factory opens in Herning, Denmark First UL Certified Fueling Station in US About us Cavendish Hydrogen ASA is a leading hydrogen fueling company that specializes in the development, production, marketing, sales, installation, commissioning and service of equipment for fueling hydrogen to on-road vehicles.”
Annual report 2024A · The company itself
Market
“This year equipment delivered by Cavendish dispensed more than 900.000kg hydrogen, underlining that Cavendish is one of the most experienced suppliers of gaseous hydrogen refueling stations in Europe, North America and South Korea.”
Annual report 2024A · The company itself
Market
“Cavendish Hydrogen’s fueling equipment is now dispensing nearly 1 million kilograms of hydrogen for our customers on an annual basis.”
Annual report 2024A · The company itself
Market
“The focus continues to be hydrogen fueling solutions for mobility, evolving with the market from light-duty solutions to high-capacity fueling systems for trucks, buses, and longhaul transport.”
Annual report 2024A · The company itself
Industrial manufacturing
End markets
Market
“Nel acquires H2 Logic Second Generation 700 bar H2Station TM First office opens in California Factory opens in Herning, Denmark First UL Certified Fueling Station in US About us Cavendish Hydrogen ASA is a leading hydrogen fueling company that specializes in the development, production, marketing, sales, installation, commissioning and service of equipment for fueling hydrogen to on-road vehicles.”
Annual report 2024A · The company itself
Market
“The focus continues to be hydrogen fueling solutions for mobility, evolving with the market from light-duty solutions to high-capacity fueling systems for trucks, buses, and longhaul transport.”
Annual report 2024A · The company itself
Contract manufacturers as a business (EMS, CMO, CRO)
End markets
InputNegative impact: weakens
“Cavendish Hydrogen is also to a certain degree dependent on a limited number of third-party suppliers for key production components for its fueling station products.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Nevertheless, Cavendish does have a few single-source components and is at risk of temporary supply chain disruptions should one or more suppliers fail to deliver.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Another supply chain risk is whether suppliers can continue to operate under the uncertain market developments inherent in this industry.”
Annual report 2024A · The company itself
Chains in: Biotech and drug development strengthens
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“The Geo-political situation has developed negatively with higher uncertainty around the global trade situation with potential tariffs and customs.”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Renewables auctions and subsidies
Regulation
DriverNegative impact: weakens
“The overall market sentiment is impacted by a slow-down in government incentives combined with higher interest rates and overall cost increases.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Lastly, the local authorities and governments have an important role in the renewable hydrogen sector by enacting legislations that support research and innovation and scalable investments in production and infrastructure.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Political incentive schemes such as the Inflation Reduction act in the United States and the Hydrogen Bank in the EU are expected to be important contributors to developing the industry.”
Annual report 2024A · The company itself
Chains in: Wind power strengthens
EU climate and energy policy
Regulation
DriverNegative impact: weakens
“Reduced and/or delayed support from governments will delay the developments of the renewable hydrogen industry.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Political incentive schemes such as the Inflation Reduction act in the United States and the Hydrogen Bank in the EU are expected to be important contributors to developing the industry.”
Annual report 2024A · The company itself
Chains out: this strengthens Circular economy and recycling, strengthens Energy efficiency
Inflation
Macro
DriverNegative impact: weakens
“The overall market sentiment is impacted by a slow-down in government incentives combined with higher interest rates and overall cost increases.”
Annual report 2024A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Interest rates
Macro
DriverNegative impact: weakens
“The overall market sentiment is impacted by a slow-down in government incentives combined with higher interest rates and overall cost increases.”
Annual report 2024A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“The Geo-political situation has developed negatively with higher uncertainty around the global trade situation with potential tariffs and customs.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
Asia and emerging markets
Geography
Geography
“With manufacturing in Denmark and active projects across Europe, North America, and Asia, Cavendish is positioned to meet the expected increase in international demand for hydrogen infrastructure.”
Annual report 2024A · The company itself
Geography
“This year equipment delivered by Cavendish dispensed more than 900.000kg hydrogen, underlining that Cavendish is one of the most experienced suppliers of gaseous hydrogen refueling stations in Europe, North America and South Korea.”
Annual report 2024A · The company itself
Europe
Geography
Geography
“With manufacturing in Denmark and active projects across Europe, North America, and Asia, Cavendish is positioned to meet the expected increase in international demand for hydrogen infrastructure.”
Annual report 2024A · The company itself
Geography
“We can be proud of a record high amount of stations delivered during the year with the majority opened on the European market.”
Annual report 2024A · The company itself
United States
Geography
Geography
“With manufacturing in Denmark and active projects across Europe, North America, and Asia, Cavendish is positioned to meet the expected increase in international demand for hydrogen infrastructure.”
Annual report 2024A · The company itself
Geography
“This year equipment delivered by Cavendish dispensed more than 900.000kg hydrogen, underlining that Cavendish is one of the most experienced suppliers of gaseous hydrogen refueling stations in Europe, North America and South Korea.”
Annual report 2024A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Consumer spending
Macro
DriverPositive impact: strengthens
“Revenues increased with 7% to EUR 31.0 million due to higher equipment deliveries.”
Annual report 2024A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0.03 bn EUR |
| Revenue growth vs. the year before, same method | 7.3 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | -0.68 EUR |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✗ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (EUR), not converted to DKK. Quotes are shown as the company's own words in the report's original language.