t
ITM Power PLC announced on 22 April 2025 that its FY25 revenue guidance increased by 30% to between £25.5m and £26.5m, compared to the midpoint of its previously announced £18m-£22m range. The company expects to be net cash generative in the second half of FY25, with year-end cash projected between £204m and £205m. This cash projection is an increase from its half-year balance of £203m and prior guidance ranges of £160m-£175m (August 2024) and £185m-£195m (January 2025), while adjusted EBITDA loss guidance of £32m to £36m remains unchanged.
| Date | 22 Apr 2025 |
| Time | 07:00:13 |
| Category | Miscellaneous |
| ID | 6016F |
22 April 2025
ITM Power PLC
FY25 guidance: revenue increased by 30%, and cash-generative in the second half of the year
ITM Power is delighted to announce two positive changes to its FY25 guidance:
Revenue is now expected to be between £25.5m and £26.5m, a 30% increase compared to the midpoint of the previously announced range of £18m to £22m. This increase is due to additional contractual obligations having been fulfilled and associated revenue now recognised.
In addition, ITM has been net cash generative in the second half of FY25, and we now expect cash at the end of the financial year to be between £204m and £205m, an increase compared to our half-year cash balance, which stood at £203m. The original cash guidance, issued in August 2024, was between £160m and £175m and in January 2025, the guidance was increased to between £185m and £195m.
The adjusted EBITDA loss guidance of £32m to £36m remains unchanged.
Dennis Schulz, CEO, said, "ITM is continuing to achieve a strong revenue performance while tightly managing costs and capital expenditures. Our strong balance sheet is an important differentiator in the competitive landscape, and our contract backlog and sales pipeline have continued to grow. We remain well-positioned as customer FIDs accelerate through FY26."
For further information, please visit www.itm-power.com or contact:
|
ITM Power PLC |
|
|
Justin Scarborough, Head of Investor Relations
|
+44 (0)114 551 1080 |
|
Berenberg |
|
|
Ciaran Walsh, Harry Nicholas
|
+44 (0)20 3207 7800 |
|
J.P. Morgan Cazenove |
|
|
Richard Perelman, Charles Oakes |
+44 (0) 20 7742 4000 |
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.