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ITM Itm Power Plc

0.62 (1.12%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Itm Power Plc LSE:ITM London Ordinary Share GB00B0130H42 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.62 1.12% 55.80 2,509,139 16:35:08
Bid Price Offer Price High Price Low Price Open Price
55.80 56.20 58.44 54.56 55.12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electrical Machy, Equip, Nec 5.23M -101.2M -0.1642 -3.43 347.19M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:07:40 O 14,002 55.80 GBX

Itm Power (ITM) Latest News

Itm Power (ITM) Discussions and Chat

Itm Power Forums and Chat

Date Time Title Posts
10/12/202322:26ITM Power - integrated hydrogen energy systems.30,480
08/12/202323:28The ITM Power Thread (V.2)7,274
06/12/202318:51ITM - No Sales, 4m loss and rising, years away from market, 5p target4,786
22/11/202306:41GRAHAMS MISTAKE40
22/11/202306:40Guess hurricanes 🌀 average competition 8

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Itm Power (ITM) Top Chat Posts

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Posted at 10/12/2023 08:20 by Itm Power Daily Update
Itm Power Plc is listed in the Electrical Machy, Equip, Nec sector of the London Stock Exchange with ticker ITM. The last closing price for Itm Power was 55.18p.
Itm Power currently has 616,465,655 shares in issue. The market capitalisation of Itm Power is £347,193,457.
Itm Power has a price to earnings ratio (PE ratio) of -3.43.
This morning ITM shares opened at 55.12p
Posted at 07/12/2023 02:03 by bones698
The problem is the rate at which they are spending that money and not seeing a pickup in business . The question is will they be able to increase sales fast enough or will they lose out to competition on many projects and the cash continue to dwindle . From a business point of view they are not doing very well having spend hundreds of millions and only achieving 5m in revenue .

Now before everyone jumps onboard yes you have to invest in r and d etc but the question remains will it result in increased revenue in coming years so maybe so it covers the losers . For me it's a no I think itm won't get the increase in business it needs but each to their own .
The cash is the only thing holding up the share price currently but the lower that gets the share price will follow
.just to add that many of the self processed experts on here are sat on big losses already so believe what they say with a degree of skepticism afterall they were saying was a buy at well over twice the current share price while others like myself were saying sell .
Posted at 06/12/2023 11:53 by grahamwales
More action and less words needed from this government.

I agree with the hon. Member about joining up. Indeed, the Minister can happily say good things about ITM Power and what the Government want to do, because the Government launched their hydrogen strategy nationally at ITM Power a couple of years ago. The Energy Secretary and the Chancellor have both recently been to visit ITM Power to show the Government’s support. It is well renowned, and it shows the way forward for green hydrogen. That is the way we should be moving.

I hope that the Minister will follow my hon. Friend the Member for Sheffield Central in asking for more resources and more clean buses for Sheffield. When he is looking at new vehicles for Sheffield, I ask him seriously to look at the role that hydrogen buses can play and at how the Government can properly join this up.

ITM wants to play a role. It is happy to provide the refuelling capacity. It is happy to work with Government and bus companies. Let us have some joined-up thinking across Government and let us get things moving forward, not just for the clean air that we want for Sheffield, but as a major innovation and a major move forward for the use of hydrogen in buses in this country.
Posted at 28/11/2023 14:22 by norbus
I have to believe ITM is operating in stealth mode. We have repeatedly heard and seen product and production improvements proudly announced . Several claims that ITM's PEM is the best in the world and back up specs were given. An officer said that ITM is working on several hundreds of MWs . The Yards look busy.

Schulz is not a man to leave himself exposed or with egg on his face. A share buyback may yet be done, under complicated rules , perhaps announced before repurchase starts

Just look at the fossil kings.. They still get huge subsidies in billions; and they are going into green hydrogen full steam ahead; What does that say?
Posted at 22/11/2023 15:05 by moontheloon
Surprised itm share price delayed holding hands with cwr today
Posted at 20/11/2023 09:54 by sam_
Today's buying volumes are promising (2.5:1)and the share price is breaking the downtrend on the technical chart & building positive momentum. The chancellor's choice of ITM Power to reveal his green energy support package, coupled with the forthcoming Autumn Statement this Wednesday confirming his green policy, significantly increases the likelihood of ITM's share price beginning a recovery from its all-time low.
Posted at 12/11/2023 14:30 by grahamwales
From Dennis on Linkdin

The news and significant share price drop of one of our competitors on Friday caught the market by surprise. The company spoke of unprecedented operational and scale up challenges, supply chain issues, and rapid cash burn.

ITM Power won’t face these issues anymore - simply because we’ve worked hard to identify and fix them.

When I joined ITM about a year ago, the company was on a similar trajectory. That’s why in January this year I introduced a 12-month plan, which has been pro-actively tackling each and every topic our competitors are facing today. Our plan had three priorities:

1. Product portfolio: ITM had too many products and product variants. This was disruptive to our engineering and manufacturing processes. Also, design kept changing (improving), without proper design freezes. ITM was even engaged in adjacent businesses like refuelling. This led to a lack of focus, and consequently slowed down project progress.

2. Cash burn: ITM lost too much cash, much of it related to a too broad product portfolio, plus immature processes and controls - almost all of it avoidable. In principle there is good and bad cash spend. Investments into automation, upskilling, and new factories is cash well spent. It’s also normal to incur losses for overhead under-absorption prior to capturing scaling effects. But it’s important to limit losses and cash burn to those reasons which will dissolve with higher turnover.

3. Debottlenecking: From day one at ITM I put focus on analysing the bottlenecks we were facing, or would face, with further volume ramp up. Over the last months we announced several partnerships with critical suppliers who are scaling with us. This is essential, as it doesn’t matter how much a company debottlenecks its own factory; if the company’s suppliers don’t deliver in the right quantity and quality, it can’t produce at scale.

This might sound odd coming from a competitor, but to reach net zero we need more than one company and technology. I wish them well and hope they will overcome their challenges, for healthy competition drives us all forward.
Posted at 11/11/2023 10:32 by sam_
I just saw the following on LSE:

Ok, to put things into perspective here:

From Plug Power’s results: “The Latham, New York-based Plug said cash and equivalents at the end on Sept. 30 stood at $110.8 million.”

So Plug’s MCap :

After yesterday’s >40% share price drop :$ 2.15 billion

*Plug Power has $2.15 Billion MCap vs $110.8 million cash


ITM Power has $460 million MCap - $345 million in cash
(cash only without consideration to cash equivalents)
Posted at 08/11/2023 16:38 by moontheloon
Some meat on the carcass ......(Sharecast News) - Analysts at Berenberg lowered their target price on energy storage and clean fuel company ITM Power from 90.0p to 80.0p on Wednesday, stating it now anticipates seeing slower than previously expected production ramp-up.Berenberg said it was updating its ITM Power model to incorporate a simplified top-down valuation approach, as well as "a more cautious" outlook on the company's long-term manufacturing capacity build-out.The German bank stated that although it believes the company to be on "a firmer footing" under new management, operational and contracting improvements will "take time" to be reflected in better financial performance.Berenberg also noted that against a backdrop of slower-than-expected industry activity during 2023 and "a challenging macro environment", it had opted to retain its 'hold' rating on the stock."On our updated forecasts, ITM is trading on FY24/25 EV/sales of 18x/9x respectively," said Berenberg. "In the short-term, we make a slight adjustment to our pricing assumptions, and also adjust our margin assumptions slightly. The result is a 2%/7% reduction in our FY24/25 revenue forecasts, respectively. EBITDA and EPS are essentially unchanged in FY24, although we see a widening in EBITDA and EPS losses of 6%/3% in respectively in FY25. In the long run, we reduce our 2030 manufacturing capacity to 2.0GW (from 2.5GW) due to a more cautious outlook on industry scale-up. The net result is a 12% reduction in our valuation
Posted at 08/11/2023 07:18 by skinny
ITM Power is pleased to announce the launch of its Hybrid Stack, which provides existing ITM customers, who operate earlier MEP generation products, the opportunity to benefit from a circa 10% efficiency improvement.

As a leader in PEM technology, ITM continues to work towards enhancements that provide tangible benefits to customers. The Hybrid Stack makes available advancements incorporated into our latest Trident stack platform, to earlier MEP generation electrolysers. In this way, operators of ITM electrolyser systems maintain access to our technology improvements as they become available.

The Hybrid Stack has undergone robust validation and testing at ITM's facilities and in the field, where operational data has shown that an efficiency improvement of circa 10% is achieved. This reduces electrolyser operating costs proportionately.

The release of our Hybrid Stack marks the final step on the journey to narrow our product portfolio, which was a key pillar of our 12-month plan.

Dennis Schulz, CEO ITM, said: "The Hybrid Stack makes our latest technology available to existing customers who can now take full advantage of efficiency improvements."
Posted at 02/11/2023 06:15 by grahamwales
Nice recognition of Dennis

Dennis Schulz was appointed CEO at ITM Power, a company with over two decades of experience in electrolyser technology, in December 2022. He brings with him wide experience and passion for industrial decarbonization and the green hydrogen economy, and is poised to guide the company, to new heights in the energy transition.

Before joining ITM Power, Schulz held the position of managing director at Linde Engineering in Dresden, Germany, since 2020. His journey with Linde spanned over 14 years, during which he held various functions, including project execution, Head of Strategy, and Chief Financial Officer. His extensive experience provides him with a deep understanding of the energy industry and its evolving landscape.
Green hydrogen will play an important role in the energy transition. To meet
the fast-growing demand, ITM Power is evolving from first-of-a-kind technology
to becoming a highly efficient and reliable technology and manufacturing company

Dennis Schulz
Schulz's association with ITM Power began during his tenure at Linde, where he played a crucial role in forging and nurturing Linde's strategic relationship with ITM Power. His experience in the green hydrogen market and his commitment to decarbonization make him a driving force in the transition to sustainable energy solutions. His leadership at ITM Power comes at a pivotal moment in the company's journey.

ITM Power, with its track record spanning over 20 years, has been at the forefront of electrolyzer technology development. It became the first hydrogen-related company to be listed on the London Stock Market. As the CEO, Schulz is dedicated to advancing ITM Power's core technology and solidifying its position as a highly efficient and reliable technology and manufacturing company. His vision and leadership align with the potential of green hydrogen in the energy transition. Schulz holds a Master of Science degree, and has done an Executive MBA.
Itm Power share price data is direct from the London Stock Exchange

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