£15.2 revenue 6 months and reduction In costs. The balance is shifting. Good solid performance. Be interesting to see how the order book has expanded |
Great results. Closing in on Break even.
Solid progress: Promising
The best is yet to come |
 Ahead of our interim results, which are due to be released on 30 January 2025, we are pleased to provide a summary of our financial performance for the 6 months to 31 October 2024.
The expected unaudited financial results for the half year are as follows:
· Revenue of £15.2m
· Adjusted EBITDA loss of £17.1m
· Net cash at the end of the first half of the year of £203m
View on the market and business:
· Market and regulatory environment: remain unchanged
· Sales pipeline: continues to grow, with near-term interest weighted towards NEPTUNE V
· Project delivery: obligations being met, with costs tightly controlled
· Product performance: in-field data achieving customer and ITM expectations
We update our FY25 guidance as follows:
· Revenue expected between £18m and £22m (unchanged)
· Adjusted EBITDA loss in the range of £32m to £36m (improved from £35m to £40m)
· Net cash at year-end in the range of £170m to £180m (improved from £160m to £175m)
Dennis Schulz, CEO ITM, said: "In the first half of the year, ITM achieved its strongest revenue performance in any six-month period whilst tightly managing costs and capital expenditure. Our sales pipeline has continued to grow, and we are well-positioned as customer FIDs accelerate through 2025. We look forward to providing a more detailed update with our interim results in January." |
Absolutely crazy that this is happening when it could be stored for future use.
Britons have shelled out an "absurd" £1billion to temporarily shut down wind turbines in 2024 alone, a damning new report has revealed.
Wind farms are being temporarily shut down because they can't cope with high winds - which could cost Britons as much as £6billion in just five years. |
Saudi Arabia in update lol. Whoosh |
Peter will no doubt have an insight into new projects throughout his area via the Siemens tie in. He’s going to be a great asset to ITM. |
Alongside our new middle east 'middle' man... |
"Alkhorayef highlighted Saudi Arabia's development of the world’s largest green hydrogen production facility in NEOM, which is expected to contribute 10% of global green hydrogen production targets." |
Schulz continues to show guts setting his stall for Germany. |
Shorters and the share price |
Dennis building a very strong team around him. Production has proved they can build the products, technical has proved they can improve design and reduce costs and now they have a sales team that can deliver.
What’s not to like 😁. |
YES,. What the doctor ordered. A vitamin for growth. Schulz almost has his Germany team together to exploit the hydrogen grid |
This (I think) was the latest mention of CHRONOS :-
For further information, please contact:
ITM Power PLC
Justin Scarborough, Head of Investor Relations +44 (0)114 551 1080
or press@itm-power.com |
Think the shorting crew are in their little rowing boat, off to other pastures. I've a feeling any left will be burnt badly tomorrow. |
‘The development of ITM Power's next-generation stack platform, CHRONOS, is proceeding to plan’.
I would like to know more about what the plan looks like. When do you think we can see this ‘game-changer’ stack make its debut?? |
No infighting please we have enough of that from the shorting crew 😂😂 |
Not added skinny at low 30s? I know you topped up a while back |
Exactly but society can be more than face to face contact for people. But I get ya |
I'll have a clearer view of what to do after tomorrow's update.
As for social media - really - never was there a more ironic oxymoron. |
I obviously was. What's your view skinny.. this is a forum after all, I bet you go on social media and sit and never say anything, rendering it anti-social media. |
Good appointment Norbus |
Blimey moontheloon - take a breath! |
Blue day incoming pre update. Follow the many large director buys |
Should be an rns that. Tbh. He will pack a punch on the world stage |
From your hobbit friend, turned itm positive on lse. Yikes, that is a serious bunny who is investing his career in ITM. A real vote of confidence |
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