REG - ITM Power PLC - FY24 guidance update – improved EBITDA position

ITM PowerAnnouncement

02/08/2024 07:00

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RNS Number : 8945Y  ITM Power PLC  02 August 2024

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
(http://www.itm-power.com/)  or contact:

 

 ITM Power PLC
 Justin Scarborough, Head of Investor Relations    +44 (0)114 551 1080

 Investec Bank plc (Nominated Adviser and Broker)  +44 (0)20 7597 5970
 James Rudd / Chris Sim / Ben Griffiths

 

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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