UK's ITM Power H1 revenue rises, EBITDA loss narrows

ITM Power

29/01/2026 07:09

Overview

UK electrolyser maker's H1 revenue rose yr/yr to £18 mln

Adjusted EBITDA loss for H1 narrowed to £11.9 mln

Company launched Hydropulse business for decentralized hydrogen production

Outlook

Company reiterates full-year revenue guidance of £35m to £40m

ITM Power expects adjusted EBITDA loss between £27m and £29m

Company projects year-end cash reserves of £170m to £175m

Result Drivers

PRODUCT LAUNCHES - Introduction of ALPHA 50 and Hydropulse business contributed to revenue growth and market interest

CONTRACT BACKLOG - Increase in contract backlog to £152m, with a higher percentage of profitable contracts

REVENUE RECOGNITION - Transition to percentage-of-completion method for certain products to improve revenue visibility

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 18.03 mln
H1 EPS
-GBP 0.02
H1 Net Income
-GBP 14.16 mln
H1 EBIT
-GBP 17.44 mln
H1 Pretax Profit
-GBP 14.09 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy"

Wall Street's median 12-month price target for ITM Power PLC is GBp80.00, about 19.4% above its January 28 closing price of GBp67.00

Press Release: ID:nRSc7806Qa

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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.)