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Ceres Power Holdings plc announced on 14 March 2024 that its full year results for the year ended 31 December 2023, originally due on 20 March 2024, will be delayed as its auditor BDO requires more time. The company expects to make adjustments, primarily to the timing of revenue recognition from long-term contracts, which are anticipated to result in a modest increase in 2023 revenue relative to the £21-22 million guidance and decreases in prior years.
| Date | 14 Mar 2024 |
| Time | 07:00:03 |
| Category | Results |
| ID | 7828G |
CWR.L
14 March 2024
Ceres Power Holdings plc
("Ceres", the "Company")
Updated timing of Full Year Results
Ceres Power Holdings plc (CWR.L), a leading developer of clean energy technology, has been informed by its auditor, BDO, that it requires more time to complete its audit process.
The Company expects to make adjustments that principally relate to the timing of recognition of revenue from long term contracts. The outcome is expected to be a modest increase in revenue in 2023 relative to the £21-22 million guidance previously provided, and decreases in revenue in prior years.
The announcement of full year results for the year ended 31 December 2023, due on 20 March 2024, is expected to be delayed for a short period of time whilst the auditor completes its procedures. A revised date for the publication of these results will be announced in due course.
Ends
For further information visit www.ceres.tech or contact:
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Ceres Power Holdings plc Elizabeth Skerritt |
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Tel: +44(0)7932 023 283 Email: elizabeth.skerritt@cerespower.com |
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FTI Consulting (Financial PR) Dwight Burden / Ben Brewerton
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Tel: +44 (0)203 727 1000 Email: ceres_power@fticonsulting.com
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About Ceres
Ceres is a leading developer of clean energy technology: electrolysis for the creation of green hydrogen and fuel cells for power generation. Its asset-light, licensing model has seen it establish partnerships with some of the world's largest companies, such as Bosch, Doosan, Delta and Weichai. Ceres' solid oxide technology supports greater electrification of our energy systems and produces green hydrogen at high-efficiencies as a route to decarbonise emissions-intensive industries such as steelmaking, cement and future fuels. Ceres is listed on the London Stock Exchange ("LSE") (LSE: CWR) and is classified by the LSE Green Economy Mark, which recognises listed companies that derive more than 50% of their activity from the green economy. Read more on our website www.ceres.tech or follow us on LinkedIn.