As per post 32843 :- |
Did you prefer Cooley’s way of doing business? |
Terrible Guidance for next year Revenue would only go up from 16.5million to 18mil to 22mil But cash burn would go from 30mil to 60mil next year So they are going to Burn 30million more to generate just 2-4mil more revenue |
Think we may see 40s again in coming week |
Not unlike itm to kick another year down the road... maybe the 50m plus cash burn.next year is the relocation fee you wanted Graham?Re the statement on performance figures saying best in class... presume only negligible or wouldn't a sensible driven company shout it from the roof top in actual numbers. The market won't and isn't liking this purely because 5 years down the line from cooleys pipeline and potential we still have hot air and vague pipeline down the line with no magical word order attached for seemingly potentially great swathes of the production capacity but with several decisions and many hurdles before any of it never mind completed and money paid to Itm. Just my perception of where itm are still at... unfortunately. And now it's sitting and hoping for another year and another step towards a big dilutive cash raise... maybe 2026? Assuming figures not beaten. I do believe he's not daft though and will have come in on the lower level of his expectation |
Calls at 51-52p. for the remaining of the week |
Yep this is the easiest share ever to make serious money on
I keep telling you guys
£92k in profit since February |
We'll see 50p again before the month is out. |
Typically German way of doing business!!! |
Very happy |
I guess the FY25 guidance is a case of the CEO believing it "best to under promise and over deliver" rather than be too bullish, without firm orders. Clearly the business is now set to grow exponentially and is set up as such, but just needs customers to boost revenue and cover the factory overhead costs. EBITDA losses will then reduce significantly... |
Results achieved target. One or two more FIDs will blow this out of the water. Can't ask for more |
Still spending huge sums 50m a year for 16.5m of revenues . Time is running out and revenues not rising at the rate they need to . They have thrown so much cash away to get to this point it's terrifying but at least it has been reduced recently .
One to watch but the chart doesn't look great still and there were plenty ramping it at over 120p that are still doing so at least than half that . Maybe they aren't the ones to listen to . Just a thought |
Dennis's last sentence says it all.
"We are ready. Now we need more customers to take FIDs." |
Bit disappointed to be honest not in last years figures but no real improvement in 2025. 🙁
£15 to £25 million on R&D next year is more than I expected and thought sales revenue would be much higher.
Another £60-£70 million reduction in cash next year based on what.
Hopefully market does not see it the same way I do.
Get the hell out of the UK and move somewhere where the government actually reward companies that invest in jobs. |
✔️ |
 Commenting on the results, CEO Dennis Schulz said: "My first full financial year at ITM has seen the company make significant progress. We completed our 12-month plan and transformed ITM into a credible delivery organisation. Today, we have a focussed and highly competitive portfolio of products, all utilising the same market-leading stack technology which we can deploy into projects of any size and into almost every region of the world.
We also have achieved a shift in culture of doing things right the first time, and prioritising quality over quantity, which is becoming increasingly evident in our day-to-day operations. As a result, EBITDA losses in the financial year decreased to one third of the previous year, whilst we were able to grow revenues threefold. We now have a disciplined approach to the use of our capital, which is reflected in our year-end net cash position.
On the technology side, we are at the forefront globally, and we are deploying our electrolysers into some of the largest and most prestigious green hydrogen plants under construction worldwide. Our growing base of reference plants and operational field data helps us to convince new customers of our capabilities, as will the large-scale projects we are currently executing.
Today, ITM is significantly more capable than the company has ever been. We have gained control over what we can control. Our path to profitability is no longer a question of capability, but now a question of volume of customer orders. The foundations we have laid will enable ITM to build long-term value, allowing us to invest for growth and drive attractive returns for our shareholders.
In the meantime, our sales pipeline has been growing strongly, also backed by an increasingly positive regulatory landscape, which makes me optimistic about what lies ahead for ITM and our industry.
We are ready. Now we need more customers to take FIDs." |
Financial results summary
· Revenue £16.5m (FY23: £5.2m) in line with the £10m to £18m guidance, a more than threefold increase year-on-year
· Adjusted EBITDA* loss £30.4m (FY23: £94.2m) well ahead of the £45m to £50m guidance, reduced to less than one third of the previous year
· Net cash at the year-end of £230m (FY23: £283m) ahead of guidance of £200m to £220m, allowing us to conclude the year with a strong balance sheet
Operational highlights
· 12-month plan successfully completed:
o Product portfolio narrowed for standardisation and volume manufacturing
o Greater capital discipline, cost reduction, and improved processes achieved
o Manufacturing, supply chain and testing debottlenecked, automation deepened
· Yara 24MW plant inaugurated in June 2024 and now the biggest PEM electrolyser in Europe
· Signed capacity reservation with major industrial customer for 500MW
· Shell REFHYNE II contract signed in August 2024 for 100MW
· Operational data from reference plants confirming market-leading stack and wider product performance
· 20MW POSEIDON module and 5MW NEPTUNE V plug & play electrolyser products launched in the year, both very well received by customers
· Positive regulatory developments stimulating customer demand (see CEO report)
Strategic priorities
Strategic priorities defined, reflecting the balance between expected long-term and near-term development of the market, necessitating readiness and flexibility, whilst maintaining a strong balance sheet:
· Remain at the forefront of technology, product and delivery credibility
· Scale operations whilst retaining flexibility and conserving cash
· Grow global footprint and reach whilst staying adaptable
Financial guidance for FY25
We start the new financial year in a strong position, and with a sales pipeline that has grown very strongly. Our operational near-term focus is on executing existing and securing new customer projects.
· Revenue expected between £18m and £22m
o In TRIDENT contracts, revenue recognition is dependent on the site activities of the EPC integrator and/or end customer, outside of our control. As such, the value created in the year remains in WIP before being recognised as revenue at a later point. Without customer delays, the revenue guidance would have been in the range of £35m to £40m, with the delta being deferred into future periods.
· Adjusted EBITDA loss expected to be in the range of £35m to £40m
o Having restructured the company in the prior year, we are now capable of delivering at volume. Remaining EBITDA losses are a function of factory loading and fixed cost (under-)absorption.
· Net cash at year-end is expected to be in the range of £160m to £175m
o Capex for the year is expected to be in the range of £15m to £20m, as we continue to invest in R&D, product development and our manufacturing capabilities.
* Adjusted EBITDA is a non-statutory measure. The calculation methodology is set out in Note 4 |
I reckon it will be down again in the morning..hope so ;)) |
Didn't even look at it tbh
No interest until 20s
Great trading stock though. Get why u are here a lot |
The latest contract that was recently signed is obviously priced in at current share price movements. |
20s coming dude. Obviously not giving a trade price of today |
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