ITM Power delivers strongest interim revenue performance on record

(Sharecast News) - Energy storage and clean fuel business ITM Power said on Thursday that it had delivered its strongest revenue performance ever in the six months ended 31 October. ITM Power stated interim revenues were expected to come to £15.2m, while adjusted underlying losses were seen at £17.1m for the half.

Looking forward, the AIM-listed group stated full-year revenue expectations were unchanged at between £18.0m and £22.0m. However, adjusted underlying losses were now seen at £32.0m-36.0m, up from £35.0m to £40.0m.

Chief executive Dannis Schulz said: In the first half of the year, ITM achieved its strongest revenue performance in any six-month period whilst tightly managing costs and capital expenditure. Our sales pipeline has continued to grow, and we are well-positioned as customer FIDs accelerate through 2025. We look forward to providing a more detailed update with our interim results in January."

As of 0945 GMT, ITM shares were up 2.52% at 35.38p.





Reporting by Iain Gilbert at Sharecast.com