Would have thought quite a lot of the cash used would be for materials. Be interested to see how inventories have increased when results come out. |
Great review Graham. Everyone been holding their breath seeing how much itm been pummelled. This is the catalyst i spoke of glad I put my 50k with the directors and made a calculated risk yesterday that they are delivering. |
A glimpse of breakeven does the market wonders. There is nailed on broker upgrades due to bolster this into sensible valuation again. And the short squeeze will help as we get the blood back out of them |
This is what city investors are trading today.
ITM Power reported a robust revenue performance of £15.2 million for the first half of 2024, alongside a growing sales pipeline and improved EBITDA loss projections. The company remains on track with project deliveries and tight cost management, positioning itself well as customer investment decisions accelerate into 2025. With a strong net cash position of £203 million, ITM Power is poised for continued growth in the green hydrogen sector. |
I think my statement of into the 40s within a week. Change that to day |
He has started to deliver. There's something hidden that the directors know will emerge on top of these great progress figures. Hence the dirsctor buying across the board. |
£203m just over a month ago....Not running out of money any time soon is it?
Good, steady as she goes, update. |
Under promise over delivery seems to be the way Dennis works. Breath of fresh air compared to the majority of CEO’s on AIM who seem to do the opposite. |
Morning chaps
Not bad results |
Talking of bones another he has called wrong. |
Breakeven close. And those figures set to over achieve at full year. Nice easy target can't wait for news on order book. I'd expect to be around 50p region when the interims are put and more meat on the bones. |
john henry, anything in particular, it all seem much of a muchness to me. |
Suns out today |
Sometimes it doesn't rain, it pours. |
Well Sleveen i guess you havent been following the news this past 6 months. |
H2 2024 were c £7.5 mil |
That or sales are much lower in H2. |
My bad. I meant £18m-£22m revenue guidance yet they are already at £15.2m. Sounds like they will beat the £22m revenue guidance easily. |
Glad they raised £250m a while ago; if they hadn't pulled that off.... |
Revenue of £15m in the half year yet the guidance stays at £22m-£30m. Sounds like they will hit the top end of that no? |
No shocks,numbers all improved. Guidance is positive
Imho the sales pipeline is booming.
EV currently £25M.
Market should be ok with the TU. No doubt there will be the sell on the news brigade. |
£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. |
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