Q3 2022 Hav Group ASA Earnings Call Transcript
Good morning, and welcome to HAV Group ASA's presentation of third-quarter results. We are going to speak about the highlights of the quarter. I'll go through the briefs for the group and for the subsidiaries. Together with me, I have Pål Aurvåg, CFO in HAV Group. He will present the financials. And we'll close up with the market outlook, and we have a Q&A session at the end.
So for Q3, we had a revenue of NOK137 million and EBIT of NOK1 million. Cash from operations was negative by NOK52 million, and the cash balance today, or by third quarter, was NOK258 million. External backlog was NOK481 million, and the market cap as per reporting date was NOK386 million.
So the key developments of Q3, some of the developments, we had -- the approval documentation for the deck-based containerized hydrogen energy systems was filed to -- submitted to DNV for approval in principle, which is a process that takes us to the final approval of this product. We announced earlier this year that we were in negotiations with Høglund to acquire the company. That
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