Itm Power Share Discussion Threads

[bjfanc] 16/1/2023 14:19

My guess is that back in 2014/15, when the CFO walked pretty abruptly. Internal candidate took it but never challenged.

[seagreen] 16/1/2023 14:06

Looking forward to a hard nosed practical and realistic new CEO to take the company forward, every new CEO kitchen sinks his first set of figures and provides for worst case scenario.

[owenski] 16/1/2023 14:05

Car crash, green stock bubble garbage having a further reality check and crashing down to earth.

Are the same bellends still ramping this to death.

[gimmethefax] 16/1/2023 14:02

The CEO's statement says it all for me.

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."


We require firmer foundations - Cooley led us to believe we were standing on solid ground. And continued to pretend while we were sinking into the sand.

I'll be happy to see the back of GC, AA and who ever is meant to be watching them.

I regret singing Cooley's praises.

'Serial production has begun' - wtf was that?

..of what? Product that will be written down?

Why didn't he sell any?


Pride, greed, or shame - either way, he lied and my pension nearly died.


"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."


So.... in other words... The Best is Yet to Come?

Well of course it is - the man and his nodding dog cannot stop what is coming.


I look forward to our future.

[baldrick1] 16/1/2023 14:01

Sp decoupling from Linde ascent

[owenski] 16/1/2023 13:59

Oh dear, that was not a good read, as I've often said here - this is overvalued - and reading through that statement, is also incompetently run.

Never pays to buy into overvalued, overhyped and ramped stocks, it had an entire future priced into this with no room for any mistakes, and yet mistakes there have been.

Still overvalued.

[norbus] 16/1/2023 13:30

Cooley & Allen should be prosecuted for falsifying the state of affairs, and the Chairman should be shown the door. There are however many classical positive messages underneath the surface.

[clabburn] 16/1/2023 13:22

Nothing in the announcement today was a surprise but still hard to shake a sense of massive disappointment here. Unfathomable to me that they are still screwing up pricing and selling products at a loss. The previous decision to get out of EPC work was supposed to protect us from exactly this type of mess. The CFO should be sacked for signing off on inaccurate warranties and a product that we now discover was unproven.

I expect a round of layoffs to get costs under control and hopefully a quick resolution on the technology side so we can once again start selling electrolysers and planning for the future. All I can say is thank goodness they raised capital when they did. Some massive mistakes made by the leadership. Hopefully they haven't completely squandered the golden opportunity ITM were presented with but hard to conclude that the 2 years since the factory opened have been anything other than a failure so far. I have confidence the new CEO will turn this around. Step 1 is to fix the product and clear out the senior management and board. Everything else will follow from there.

[moontheloon] 16/1/2023 12:49

What's thinking on revenue? If one of those that didn't get in last years full year hasn't made it to payment stage yet.. leuna maybe what does that leave revenue at ... Double last year?

[grahamwales] 16/1/2023 11:14

CEO still planning to increase production so must think previous problems can be resolved.

[northener] 16/1/2023 10:54

Yes, could do with some new contracts, disappointing update but I'm holding on based on "Our core electrochemical technology works well" and positive expectations for the use hydrogen as a "green" energy source.
e.g.
hxxps://www.autocar.co.uk/car-news/new-cars/under-skin-resurgence-fuel-cell-electric-car

[5barney] 16/1/2023 10:27

Horrific as predicted
Instead of bringing in a ceo from the nexus of the problem They should have snapped my offer lol.
Get rid of the green haired rainbow loving wokesters employed and perhaps the product wouldn’t be falling to pieces within weeks of arriving months late
Also I posted 18 months back about the % Itm get from linde deals means a loss on everything they do
I was laughed at
We’ll surprise surprise it was true

[moontheloon] 16/1/2023 10:07

Never have we been more desperate for some news of a new deal .. they gotta happen eventually but we have held our collective breath for too long

[moontheloon] 16/1/2023 10:05

It's like a computer program will take it up get some buyers in thinking it's straight back up .. so far it's almost identical to 27th Oct. But not as steep

[norbus] 16/1/2023 09:58

Rolls-Royce has reached another milestone towards CO2-neutral energy supply: The further developed 12-cylinder gas engine of the mtu Series 4000 has successfully passed the first test runs with 100 percent hydrogen and showed very good results in terms of efficiency, power, emissions and combustion

[moontheloon] 16/1/2023 09:42

That's my honest view, our comments do nothing to the share price or where the mms plan to take it. So it's not trading ploy. If we drop further I will buy back . I'll have more shares but I won't hold over 31st.

[moontheloon] 16/1/2023 09:38

I genuinely believe they will. It will all be about future projects. The figures won't be realistically bearable .. projects delayed unfinished with reparations . Mis quoted negotiations... They won't be paying out on unfinished jobs. This will have an impact don't you believe otherwise. After that we will get broker downgrades on earnings which might allow us to eventually over acheive but that's not this year imo. Sorry

[grahamwales] 16/1/2023 09:33

Skinny

Chairman should be next to go IMO should have got rid of Cooley knowing the lies he was spouting to the market.

[grahamwales] 16/1/2023 09:32

Moon

With no figures quoted. 31st will be awful.

How do you know they will be awful if no figures quoted. See what I mean about trading trolls.

[moontheloon] 16/1/2023 09:27

Maybe they all did well out of beneficial shorting info. Needs an investigation

[baldrick1] 16/1/2023 09:27

New trad8ng range 80p-88p

[moontheloon] 16/1/2023 09:25

With no figures quoted. 31st will be awful. Can only hope for decent updates expansion of existing projects. Maybe see them as loss leaders. Seems to be lot of punters happy with the punt without the scale of sales or losses

[skinny] 16/1/2023 09:25

This from the opening paragraph, surely brings into question the culpability of the CFO and even the Chairman.

"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."

A reasonable update in the circumstances and hopefully a line has been drawn under the shenanigans of the last year or so.

[norbus] 16/1/2023 09:23

I happen to think we will emerge strongest of the leaders in PEM