More downside when US markets open . |
SNAFU by Fed...again. US economy weak enough to require, at least, a 25bp cut at the recent meeting. Worst case we have a six week wait for the next meeting to cut more or-and more likely-they come back to work early and cut. Either way, I think this is a buying opportunity in a broad range of shares. I added to ITM this morning. |
Looks like short attack buy before they close 😁 |
It's a sell off all-around..we could see 45p again. |
This is classic, from the comments on LI:Cyrus from Plug'A quote from someone who hasn't been to Plug's Gigafactory in Rochester, NY ?That said, good to hear other companies are doing real things, the industry needs it...'Dennis's response: 'Actually, they have been to your factory just before. (Apologies, not even joking...)' |
Moon
Read the last paragraph
It makes the whole ITM Power team incredibly proud to see so many products successfully manufactured, tested and ready for collection by our customers. Every TRIDENT stack skid in this photo is built for a commercial project - not a single one is built to stock. |
Thanks sonic. |
The stock pile that we now have is great when fids come in. Literally they go out instantly .. but as an aside if they sit too long, are we saying the product is at its pinnacle and no more r&d ever takes place? And with no performance figures actually published yet. Or will they become obselete while they wait. It's still vague but itm do present one of the clearer pictures in this vagueness. Personally I like to see finished product ready to ship but after cooleys mess he saw a tidal wave that never occurred in his tenure... and to an extent Dennis has taken that same baton and he's running with it... we do have a seeming tidal wave of maybe/promised orders promises of capacity down the line ... if you fancy it, no pressure or if your backers can sign a fid and get over legislation and all the other hurdles put in front of green hydrogen. Think that were over the worst with itm but need an rns with the lovely word 'order' within it ... and maybe some payment figures with a date. |
New business development manager started for North America 😁 |
A picture is worth a thousand words... And many millions of pounds in this case. |
Latest post from Dennis -
"We have visited many OEMs over recent months as part of our tender process, but it was only today that we were able to finally see a real electrolyser factory." (customer quote)
Many potential customers have been visiting us recently to get a first-hand impression of our capabilities. Feedback has been brilliant throughout, highlighting that this feels very different - and real.
It makes the whole ITM Power team incredibly proud to see so many products successfully manufactured, tested and ready for collection by our customers. Every TRIDENT stack skid in this photo is built for a commercial project - not a single one is built to stock. |
Apologies I mentioned £70 million when in fact its £76 million mostly finished products.
Inventories held increased to £76.8m from £47.0m in the prior year and £58.8m at April 2023. The inventory has largely been processed into finished subsystems and products, with the raw materials balance reducing from £36.0m (H123) to £9.4m (H124). This balance remains an opportunity for ITM to improve working capital through project execution. |
If Bilbo has doubts about what inventory ITM has get him to take a look at the recent photo on LinkedIn |
Wouldn’t surprise me if we get some more positive broker notes following year end results. 😁 |
Even though a pound would be most welcome short term!
RBC cuts ITM Power price target to 100 (150) pence - 'outperform' |
Most likely: It might be a FID for some of that 500MW; We know sales were great, but not mentioned till a FID is issued.
All very healthy; You can do wonders with provisions. Dennis took a bath, and is now toweling down. B/E certainly can't be ruled out Y/E 30/4/2025. |
Broker cuts price but overperform rating. |
Moontheloon, From the statement on 6th June:
Net cash at the year-end of £230m, ahead of the guidance range of £200m to £220m and reflecting the stringent cost and capital disciplines now embedded in the DNA of the company
IMO, the statement today suggests that EBITDA losses from operations are on a declining trend. Were our (conservative?) CEO to suggest break-even EBITDA for the current year to be followed by substantial profitability in 2025/26, the shares would rocket.
I will certainly be asking that question at the post results meeting. |
Well we won’t have long to wait. If all cleared should give ITM a clean slate going into 2024/5 accounts and give even more confidence to potential customers. |
The hidden provisioning potential going forward is the unknown that the market doesn't like I guess |
Didn't mention cash position seems abit of a pointless announcement seem to remember them doing likewise last year it going down then every knowing what was happening in the full announcement |
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