ITM’s new CEO has outlined a major reset for the company focused on transforming it into a volume manufacturer of market leading electrolyser technology. Getting there will involve a lot of work and cost and today’s revised guidance shows a near doubling of EBITDA loss against the original consensus for FY23. FY 24 should start to see the benefit of cost cutting and the company has also announced two new 100MW contracts announced today with Linde. Importantly, ITM has the cash reserves to suppor ....
31 Jan 2023
ITM Power - A Major Reset
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ITM Power - A Major Reset
ITM Power PLC (ITM:LON) | 50.8 0.6 2.4% | Mkt Cap: 313.7m
- Published:
31 Jan 2023 -
Author:
Adam Forsyth -
Pages:
3
ITM’s new CEO has outlined a major reset for the company focused on transforming it into a volume manufacturer of market leading electrolyser technology. Getting there will involve a lot of work and cost and today’s revised guidance shows a near doubling of EBITDA loss against the original consensus for FY23. FY 24 should start to see the benefit of cost cutting and the company has also announced two new 100MW contracts announced today with Linde. Importantly, ITM has the cash reserves to suppor ....