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ITM Power PLC on Thursday reported a record six months sales performance with increased momentum in Europe offsetting uncertainty in the US. The Sheffield, England-based green hydrogen electrolyser designer and manufacturer forecast an adjusted loss before interest, tax, depreciation and amortisation of £11.9 million in the six months to October 31, revenue of £18.0 million and cash of £197 million at the end of the period. Momentum has continued to accelerate in Europe, led by Germany, the UK is ‘gathering pace’ while in the US, policy shifts have caused ‘uncertainty.’ ITM Power said the sales pipeline remains strong, while operational performance progress is reinforcing customer confidence. Chief Executive Dennis Schulz said: ‘In the first half of the year, we again delivered our strongest ever six-month revenue performance. We continue to have a solid contract backlog and sales pipeline. Our Ebitda losses have narrowed further, supported by strong manufacturing and project performance, as well as disciplined cost control and capital allocation.’ For the full-year, ITM left guidance unchanged. The firm expects revenue between £35 million to £40 million, an adjusted Ebitda loss in the range of £27 million to £29 million and cash at year-end between £170 million to £175 million. In the financial year to April, ITM reported revenue of £26.0 million, an adjusted Ebitda loss of £33.0 million and cash at year-end of £207 million. Shares in ITM were down 3.5% at 69.90 pence each in London on Thursday. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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