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ITM Power PLC on Tuesday said its remains ‘well positioned’ after raising its revenue and cash outlook for the financial year. The Sheffield, England-based designer and manufacturer of electrolyser systems for green hydrogen production now expects revenue between £25.5 million to £26.5 million in the financial year to April 30, up 30% from the midpoint of the prior range of £18 million to £22 million. ‘This increase is due to additional contractual obligations having been fulfilled and associated revenue now recognised,’ ITM Power said in a statement. In response, shares in ITM Power rose 20% to 34.70 pence each in London on Tuesday morning. In addition, ITM said it has been net cash generative in the second half of the financial year. The firm now expects cash at April 30 to be between £204 million and £205 million, up slightly from £203 million reported at the half-year. The original cash guidance, issued last August, was between £160 million and £175 million. This was raised in January 2025 to between £185 million and £195 million. The adjusted loss before interest, tax, depreciation and amortisation guidance of £32 million to £36 million remains unchanged. Chief Executive Dennis Schulz said: ‘ITM is continuing to achieve a strong revenue performance while tightly managing costs and capital expenditures. Our strong balance sheet is an important differentiator in the competitive landscape, and our contract backlog and sales pipeline have continued to grow. We remain well-positioned as customer [final investment decisions] accelerate through [financial 2026].’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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