REG - ITM Power PLC - FY25 guidance raised

ITM PowerAnnouncement

22/04/2025 07:00

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RNS Number : 6016F  ITM Power PLC  22 April 2025

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
(http://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.

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