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Ceres Power shares tumble as it guides lower full-year revenue

ALN

Ceres Power Holdings PLC on Friday stressed the importance of adapting to ‘changing market opportunities’ as it reported a widening of its interim loss.

Shares in the Horsham, England-based clean energy technology developer fell 14% to 122.00 pence on Friday morning in London.

Ceres reported a pretax loss of £19.0 million for the six months that ended June 30, widened from £10.8 million a year prior.

Driving the weaker bottom line was a 26% decline in revenue to £21.1 million from £28.5 million, driven by a weaker performance in Engineering services and licences.

This segment saw revenue contract 43% to £14.5 million from £25.3 million, owing to ‘significant’ one-off licence revenue the prior year as part of the Delta agreement. By contrast, Provision of technology hardware more than doubled to £6.6 million from £3.2 million.

Looking to the full-year, Ceres said the most probable revenue outturn for 2025 is around £32 million. This represents a 38% decline from £51.9 million recorded in 2024.

However, the company noted that it is in discussions about a new manufacturing licence agreement, though completion and timing of revenue recognition is uncertain. Should negotiations succeed, ‘any revenue recognised in the current year would be in addition to the above [revenue] guidance,’ said Ceres.

‘We are seeing an unprecedented change in the market with an acute need for power to service the demand of AI-data centres and increased electrification of society which represents a major market opportunity for the business,’ said Chief Executive Phil Caldwell.

‘We have to adapt to the changing market opportunities and we are implementing a business transformation programme to ensure we are in the best shape to drive the next exciting phase of the Company’s growth,’ added Caldwell.

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