Itm Power Share Discussion Threads

[bones698] 16/1/2023 07:36

Not many positives but that's the stock market for you . Just when u think it can't get any worse bang .

Everything seems to get hammered in even the slightest hint of bad news atm . Watched a few others tank recently panr ,agl, itm ,nano etc . Great trading iplurtunity or average down but have to wait a while to get a decent payback now

[moontheloon] 16/1/2023 07:32

One positive might get a few shorters out today as they have their pay day. Scum

[moontheloon] 16/1/2023 07:30

They did same last time, raised it optimistically to get punters paying higher then dropped a bombshell out of blue. Unfortunately I hadn't bailed.

[bones698] 16/1/2023 07:29

355m in September
310m October

And that was neaky 3 months ago so what's the cash position now 200m ? Amdnthings not going well . Sorry but will get hammered today down 40 to 50%

[grahamwales] 16/1/2023 07:25

Here come the trolls lol. Results actually better than expected

[moontheloon] 16/1/2023 07:25

Not mentioned any figures on expected earnings losses which isn't great . I think things will resolve at itm via linde in longer term but there's going to be short term pain. Customer loyalty is good. Won't stop average punters taking it negatively. Itm are amongst the green hydrogen pioneers and unfortunately they get the teething problems of a new industry. Green hydrogen is still going to happen in a big way . We just need some deals that demonstrate confidence for our future

[bones698] 16/1/2023 07:24

That's this down 40 to 50% today . Eberybting is getting hammered that misses targets. Will be valued at just over cash value imo . Expected this as I said a few months ago and cash burn is very high .

[grahamwales] 16/1/2023 07:20

Announcement earlier than expected is he expecting better News towards end of month. Cash in hand much better than expected

[skinny] 16/1/2023 07:01

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Following the appointment of Dennis Schulz as new CEO on 1 December 2022, a detailed review of the Company's operations is being undertaken. Whilst the process is ongoing, it has become clear that the outcome for the financial year ending 30 April 2023 will be materially different from the current guidance, with lower revenue and a higher EBITDA loss.

Our balance sheet remains in a strong position with net cash as at 30 October 2022 of GBP318m.

Further details on guidance and importantly a strategic 12-month priorities plan will be presented with the interim results announcement scheduled for 31 January 2023.

We anticipate the strategic update to cover three main areas:

-- Concentrating our portfolio on a core product suite, with robust product validation, and preparing for manufacturing at scale

-- Our plans for future testing capabilities and automation
-- A rigorous approach to capital allocation and costs

ITM has been going through a rapid transition phase towards volume manufacturing. Our core electrochemical technology works well. At this stage, we are testing and verifying the latest iteration of our state-of-the-art MEP 30 bar stack which we expect to deploy into existing projects.

The main factors which will impact the outcome for the financial year relate to losses on customer contracts, legacy commitments for earlier product generations causing on-site support costs, warranty provisions, and inventory write-downs originating from iterations of product designs during manufacturing. All the issues we have encountered are surmountable, appreciating that the changes will require focus, time and diligence.

In terms of warranty provisions, which were discussed at the time of our trading update in October 2022, uncertainty arises from the absence of long-duration field data for first-of-a-kind technology and as such, we expect to take a prudent approach.

Projects that are nearing contract closing are impacted as costs were underestimated when prices were originally negotiated and committed to.

Crucially, our customers have been extremely helpful in jointly minimising the impacts of delays to their projects and we are grateful for their support and trust.

Dennis Schulz, CEO, said:

"This is the challenge I was expecting when I joined ITM. For the Company to develop from an R&D and prototyping entity, to a mature delivery organisation, we require firmer foundations. Our 12-month plan will make ITM a stronger, more focused and highly capable company. The large-scale opportunities in the market are yet to come, and by putting these foundations in place ITM will be ready for the significant market demand ahead of us."

[norbus] 16/1/2023 06:28

Somebody has performed a miracle. They gagged Cooley. He posts at least oñce a day an article on cĺean energy but never mentions ITM, Linde, ILE.

[sonic25] 15/1/2023 14:00

Most of all I hope they can confirm production issues are sorted, or at the very least a precise date when it will be and within reasonable timeframe.

[norbus] 15/1/2023 12:57

TARGET PRICING FOR US

[gimmethefax] 15/1/2023 12:49

So many things.

[norbus] 15/1/2023 05:29

I expect CEO to include HyDeploy success along with other goodies that he will tell us about

[grahamwales] 14/1/2023 22:55

Successful Completion of the HyDeploy Trial at Keele University

Backed by Ofgem’s Network Innovation Competition, the £7 million project is led by Cadent in partnership with Northern Gas Networks, Keele University, the Health and Safety Executive (HSE) Science Division, integrated hydrogen energy systems manufacturer ITM-Power, and independent clean energy company Progressive Energy.

[gimmethefax] 14/1/2023 16:42

Talking of effluent...

[skinny] 14/1/2023 12:02

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257 mentions of hydrogen
17 mentions of electrolyser
1 mention of ITM.