Enapter AG, a leading German electrolyser manufacturer (FRA:H2O), has announced its first positive EBITDA in its preliminary results for the fiscal year 2023. The company witnessed a remarkable surge in sales, soaring by 114% year-over-year to EUR 31.5 million (USD 33.8 million).
According to the preliminary figures, Enapter achieved an EBITDA of approximately EUR 0.4 million, marking a significant turnaround from the negative EUR 10.6 million reported in 2022. The net loss also narrowed to EUR 7.1 million from EUR 13 million. Notably, the company's order backlog reached around EUR 26 million by the end of 2023.
Enapter attributes its success to the growing demand for its AEM (anion exchange membrane) multicore class, with devices in the megawatt range accounting for approximately 95% of total customer inquiries. CEO Juergen Laakmann expressed confidence in Enapter's role in advancing global decarbonization efforts with its iridium-free modular electrolysers.
Laakmann stated, “In our view, the result and the good order situation confirm that Enapter will make a significant contribution to the global decarbonisation of energy generation and industry with its iridium-free and thus future-proof modular electrolysers.”
With an eye on expansion, Enapter is focused on tapping into new markets with its proven AEM technology to unlock further growth potential. The company recently announced a joint venture with Chinese engine manufacturer Wolong Electric Group to manufacture AEM electrolysers in China, signaling its commitment to meeting burgeoning demand and expanding its global footprint.