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ITM Power PLC updated its FY24 EBITDA guidance for the 12 months ended 30 April 2024, now expecting an EBITDA loss between £30.0m and £32.0m. This improves on the previously announced guidance range of £39.0m to £44.0m, which itself was an improvement from £45.0m to £50.0m. The preliminary results are scheduled for release on 15 August 2024.
| Date | 2 Aug 2024 |
| Time | 07:00:05 |
| Category | Miscellaneous |
| ID | 8945Y |
2 August 2024
ITM Power PLC
FY24 guidance update - improved EBITDA position
Our trading update announced on 6 June 2024 stated that we expected the EBITDA loss for the 12 months ended 30 April 2024 to be between £39.0m and £44.0m, improving on the previous guidance of £45.0m to £50.0m.
The EBITDA guidance included a provision relating to disputes on legacy projects. We have now concluded these matters and can release the provision for FY24. Accordingly, with the audit nearing completion, we expect the EBITDA loss for the year to improve to between £30.0m and £32.0m.
Our preliminary results are due to be released on 15 August 2024. Details of the presentation for analysts and investors by Dennis Schulz, CEO, Simon Bourne, CTO, and Andy Allen, CFO, which will be held on that date at 9:00 a.m. BST, will follow.
For further information, please visit www.itm-power.com or contact:
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ITM Power PLC |
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Justin Scarborough, Head of Investor Relations
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+44 (0)114 551 1080 |
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Investec Bank plc (Nominated Adviser and Broker) |
+44 (0)20 7597 5970 |
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James Rudd / Chris Sim / Ben Griffiths |
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About ITM Power PLC:
ITM Power was founded in 2000 and ITM Power PLC was admitted to the AIM market of the London
Stock Exchange in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures
electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.
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