- ITM Power
- 22 April 2025 09:08:38
Source: Sharecast
The AIM-traded firm said the upgrade followed the recognition of additional revenue from fulfilled contractual obligations.
It also reported that it had been net cash generative in the second half of the financial year, and now expected to end 2025 with a cash balance of between £204m and £205m.
That, the company said, marked an improvement on its half-year cash position of £203mm and a significant increase on earlier guidance, which was revised upwards in January from a previous range of £160m to £175m issued in August.
Guidance for its adjusted EBITDA loss remained unchanged at between £32m and £36m.
“ITM is continuing to achieve a strong revenue performance while tightly managing costs and capital expenditures,” said chief executive officer Dennis Schulz.
“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.”
At 0850 BST, shares in ITM Power were up 20.85% at 34.86p.
Reporting by Josh White for Sharecast.com.