26th Sep 2025 09:30
(Alliance News) - 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 GBP19.0 million for the six months that ended June 30, widened from GBP10.8 million a year prior.
Driving the weaker bottom line was a 26% decline in revenue to GBP21.1 million from GBP28.5 million, driven by a weaker performance in Engineering services and licences.
This segment saw revenue contract 43% to GBP14.5 million from GBP25.3 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 GBP6.6 million from GBP3.2 million.
Looking to the full-year, Ceres said the most probable revenue outturn for 2025 is around GBP32 million. This represents a 38% decline from GBP51.9 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.
By Christopher Ward, Alliance News reporter
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