Cavendish Hydrogen ASA (CAVEN) Earnings Call Transcript & Summary

So let's take it from the beginning. But hello, everyone, and welcome to this Q&A session about Cavendish Hydrogen's first quarter results. Today is May 15, 2025. And my name is Robert Borin. I am the CEO of Cavendish Hydrogen. And with me today, I have our CFO, Marcus Halland. This morning, we published a presentation of Cavendish Hydrogen's first quarter results, where the main points from the presentation were that we have several new installations in progress globally. We continue to see enhanced uptime and improved reliability and good customer satisfaction on the delivered equipment, which is really good. We have had a new all-time high 288,000 kilos of hydrogen dispensed from our equipment during the first quarter, and we closed the quarter with a solid cash position of EUR 34.5 million. So now we look forward to answering your questions. And Michael Dahl, Head of Strategy, will manage the questions. So please go ahead.

Thanks, Robert. [Operator Instructions] Please start off by stating your name and where you're calling from. So you can go ahead, ask questions.

Yes. So please go ahead and ask questions if there are any. It seems like our morning presentation was absolutely clear, and that's, of course, positive. We will give it a couple of minutes more to give people time to log on also if there are no other questions in this audience.

[Operator Instructions]

Exactly, yes. [Operator Instructions] Oh, there, we have one.

Good. So there's a question from [ Cliff ].

Yes. I just look at -- I understand from your report that your focus is on increasing revenue in the coming quarters. So I'd like to ask your strategy to expand internationally to some major emerging markets like Middle East and India.

Yes. As of right now, our strategy is to focus on the European, U.S. and Korean markets where we are currently present. Within the European market, for instance, we are -- we have just started up or we are in the middle of construction of a project in Italy. And we are also looking at the AFIR or the Alternative Fuels Infrastructure Regulation plans for countries like Spain, for instance, who has quite recently delivered their plans for those countries on how to comply with build-out of the high-capacity or heavy-duty network. So far, we have not looked at entering Middle East or India. Thank you for the question. A very relevant question. So any other questions, [ Cliff ]? [Operator Instructions] [ Cliff ], do you have a question? [Operator Instructions] Please go ahead.

Yes. So following the last question, so may I -- shall I understand that you -- due to the focus for this year, you -- for international expansion, you are mainly focused in U.S. and Europe market only?

Yes. As we said, I mean, we are currently present in the Korean, the European and the North American market, which is United States and Canada. And those markets are currently our core focus areas. And we believe also that those markets are going to be where we see the first growth in the hydrogen mobility segment. So that's also why we are focusing in these 3 different geographical regions for now. I could see that there was someone else raising their hand in between, but that disappeared. If you wanted to say something, please raise your hand again and we will unmute your microphone. Okay. Then I think we can conclude on the Q&A session for today. We thank you very much for logging on to the session today. And please also remember that our presentation from this morning is available on our homepage and on various other trading platforms. So please have a look at that if you -- if there was something that you missed or was unclear about. So we thank you, everyone, again for logging on this day. And we'll see you again for the next quarter report. Thank you very much.