UK's Invinity H1 revenue rises on project deliveries

Invinity Energy Systems

21/09/2026 07:11

Overview
UK vanadium flow battery maker's H1 2026 revenue rose yr/yr, driven by increased project deliveries
Gross loss for H1 narrowed by 62%, reflecting improved margins and reduced warranty costs
Net loss for H1 widened 14% yr/yr due to increased R&D investment

Outlook
Company says trading remains in line with management expectations for the full yr
Revenue recognition for 2026 expected to be strongly weighted to H2, subject to project delivery
Orderbook provides coverage for most 2026 and over half of 2027 expected revenue

Result Drivers
PROJECT DELIVERIES - Revenue growth attributed to increased customer project delivery activity, including completion of one battery system and commissioning of four projects
COST REDUCTION PROGRAMME - Gross loss narrowed due to improved product margins from cost reduction efforts, reduced warranty costs, and increased manufacturing activity
R&D INVESTMENT - Net loss widened due to increased administrative expenses, mainly higher staff costs and reduced R&D grant income as company invested in product cost reduction

Company press release: ID:nRSU5494Va

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue and Project Grant Income 
 
GBP 1.7 mln
 
H1 Loss
 
GBP 12.1 mln
 

Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Invinity Energy Systems PLC is GBp60.00, about 203% above its September 18 closing price of GBp19.80

Reuters Recommended Reads
Sept 18 - China's Capinfo posts H1 loss after higher investment in R&D
Sept 18 - Germany's Enapter prelim H1 revenue nearly doubles on Italian Hydrogen Valley orders
Sept 18 - UK's abrdn Property Income Trust NAV per share falls in H1 ahead of liquidation

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)