NHOA: Navigating Market Challenges in Q3 2024
Thursday, Oct 24, 2024 2:55 pm ET
1min read In the dynamic energy storage market, NHOA Group (NHOA.PA) has released its Q3 2024 Trading and Operational Update, providing insights into its performance and strategic positioning. Despite market challenges, NHOA demonstrates resilience and growth potential.
NHOA's revenue for the nine-month period through 30 September 2024 decreased by 33% year-on-year, primarily due to a drop in unit system costs resulting from rapid degression in battery prices. This price decline was passed on to clients, impacting NHOA's top line. However, the company's backlog remains robust at €130 million, with a minor decrease compared to Q2 2024, indicating a steady pipeline of projects.
NHOA Energy, a key business unit, has seen its revenues decline by 33% year-on-year, primarily due to the rapid degression in battery prices. Despite this, the company's backlog remains strong at €130 million, demonstrating its commercial independence and resilience in challenging market conditions.
NHOA's pipeline has doubled compared to the same period in 2023, with eight projects where the company is currently shortlisted. This growth is driven by an accelerated commercial effort, despite the challenging market conditions. The company's focus on selective commercial strategies has contributed to its revenue and backlog evolution.
In conclusion, NHOA Group has navigated market challenges in Q3 2024, demonstrating resilience and growth potential. Despite a decline in revenue due to battery price degression, the company's backlog and pipeline remain robust, indicating a strong position in the energy storage market. NHOA's commercial independence and selective strategies have contributed to its revenue and backlog evolution, positioning the company for future growth.
NHOA's revenue for the nine-month period through 30 September 2024 decreased by 33% year-on-year, primarily due to a drop in unit system costs resulting from rapid degression in battery prices. This price decline was passed on to clients, impacting NHOA's top line. However, the company's backlog remains robust at €130 million, with a minor decrease compared to Q2 2024, indicating a steady pipeline of projects.
NHOA Energy, a key business unit, has seen its revenues decline by 33% year-on-year, primarily due to the rapid degression in battery prices. Despite this, the company's backlog remains strong at €130 million, demonstrating its commercial independence and resilience in challenging market conditions.
NHOA's pipeline has doubled compared to the same period in 2023, with eight projects where the company is currently shortlisted. This growth is driven by an accelerated commercial effort, despite the challenging market conditions. The company's focus on selective commercial strategies has contributed to its revenue and backlog evolution.
In conclusion, NHOA Group has navigated market challenges in Q3 2024, demonstrating resilience and growth potential. Despite a decline in revenue due to battery price degression, the company's backlog and pipeline remain robust, indicating a strong position in the energy storage market. NHOA's commercial independence and selective strategies have contributed to its revenue and backlog evolution, positioning the company for future growth.
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