30th Jan 2025 19:52
ITM Power PLC - Sheffield, England-based designer and manufacturer of electrolyser systems for green hydrogen production - Pretax loss widens to GBP28.8 million in the six months to October 31 from GBP15.3 million a year earlier. Revenue climbs 74% to GBP15.5 million from GBP8.9 million but cost of sales increases to GBP25.7 million from GBP17.0 million. Hurting the bottom line, administration expenses nearly double to GBP23.9 million from GBP12.8 million. Highlights record contract backlog to date of GBP135.3 million, up from GBP43.7 million two years ago. Reiterates full-year guidance. Sees revenue of GBP18 million to GBP22 million, adjusted loss before interest, taxes, depreciation and amortisation of GBP32 million to GBP36 million. Expects cash between GBP185 million and GBP195 million, improved from previously improved guidance of GBP170 million to GBP180 million.
Current stock price: 37.89 pence, up 8.1% in London on Thursday
12-month change: down 21%
By Jeremy Cutler, Alliance News reporter
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