ITM Power (ITM.L) issued a summary of financial performance for the 12 months ending 30 April 2024. Adjusted EBITDA loss is projected between 39.0 million pounds to 44.0 million pounds, better than the guidance of 45 million pounds to 50 million pounds, and a year-on-year reduction of more than 50%.
The company expects revenue to be in the range of 16.0 million pounds to 16.5 million pounds, within the 10 million pounds to 18 million pounds guidance range and more than a threefold increase compared to the prior year.
Dennis Schulz, CEO of ITM, said: "We grew revenue more than threefold and halved our losses, and in line with our strategic priorities, we managed our cash carefully."
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