Nel ASA appoints Morten Holum as CEO. Nel ASA stock is valued at NOK 3.65 billion

Published on 10/25/2026 at 13:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Morten Holum starts by May 1, 2027 after third-quarter revenue fell 63 percent. Nel ASA stock is valued at NOK 3.65 billion on October 23, 2026.

Management and operating signals

Nel appointed Morten Holum as chief executive on October 22, 2026.
Third-quarter order intake rose 339 percent year over year to NOK 253 million.
Nel ASA had a market capitalization of NOK 3.7 billion as of October 23, 2026.

NEL ASA, NO0010081235, Illustration mit AI erstellt.

Nel ASA (ISIN NO0010081235) appointed Morten Holum as chief executive officer on October 22, 2026, with the new CEO due to start by May 1, 2027, according to PR Newswire. The leadership change follows a third quarter in which revenue from contracts with customers fell 63 percent year over year to NOK 112 million.

Three dates shaped the stock

On September 29, 2026, SB1 Markets cut its price target for Nel to NOK 0.30 from NOK 0.50 and reiterated a sell rating, as listed by MarketScreener. On October 15, 2026, Nel reported third-quarter order intake of NOK 253 million, up 339 percent year over year, through MFN. The October 22, 2026 CEO appointment was the latest event.

What carries the next phase?

The operating picture is split. Nel's PEM electrolyser revenue rose 65 percent year over year to NOK 89 million in the third quarter, while Alkaline electrolyser revenue fell 91 percent to NOK 23 million, according to MFN. The order backlog reached NOK 1,314 million, up 34 percent year over year, but the company also reported a net loss of NOK 141 million and cash of NOK 1,078 million at quarter end.

Next dates for management

Kjell Christian Bjornsen will become interim CEO on November 1, 2026, while Torbjorn Berg becomes interim CFO. Holum is scheduled to assume the permanent CEO role by May 1, 2027, according to PR Newswire.

Dated euro market context

Nel ASA had a market capitalization of NOK 3.65 billion and a 52-week range of NOK 1.92 to NOK 3.96 as of October 23, 2026. The last available euro price came from Tradegate and stood at EUR 0.19 on October 23, 2026 at 9:17 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of Nel ASA stock.