ITM Power PLC

ITM

Equity

ISIN GB00B0130H42 / Valor 1880756

LSE London Stock Exchange, SETS (2024-12-23)

GBP 0.35+1.90%

ITM Power PLC
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About company

ITM Power PLC is a company that specializes in designing and manufacturing electrolyser systems that generate green hydrogen using proton exchange membrane (PEM) technology. The company's electrolysers only require renewable energy and water, producing oxygen as the only by-product. With a history of twenty years in the industry, ITM Power has become a globally recognized expert in the field of hydrogen technology. Recently, the company has scaled up its operations to meet the increasing demand for green hydrogen worldwide, opening a state-of-the-art factory in Sheffield in 2021. ITM Power is also the first hydrogen-related company to be listed on the London Stock Exchange, showcasing its position as a leader in the industry.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

ITM Power PLC reported a revenue of £5.2 million for the year ended 30 April 2023, reflecting a 7% decrease compared to the previous year. Despite this decline, the company has made significant strides in simplifying its product portfolio and preparing for large-scale manufacturing.

Net Cash Position

As of the end of the fiscal year, ITM Power PLC held a net cash position of £283 million. This strong balance sheet is a result of stringent cash control measures implemented in the second half of the year, which have positioned the company well for future growth.

Adjusted EBITDA

ITM Power PLC reported an adjusted EBITDA loss of £94.2 million for the year. This non-statutory measure indicates the company's ongoing investments in scaling up its operations and improving its manufacturing capabilities.

Strategic Progress

During the year, ITM Power PLC made good progress against its 12-month priorities plan. This included a significant reduction in headcount and a rigorous approach to capital allocation, enabling faster reinvestment into critical areas such as engineering and manufacturing.

Outlook

Looking ahead, ITM Power PLC is focused on preparing for significant market demand. The company has simplified its product suite and invested in expanding its factory in Sheffield and ITM Power Germany, positioning itself to meet the large-scale opportunities anticipated in the green hydrogen market.

Summarized from source with an LLMView Source

Key figures

-38.3%1Y

-90.9%3Y

-46.8%5Y

Performance

59.6%1Y

69.9%3Y

79.0%5Y

Volatility