Ceres Power: solid H1 results, forward cost optimisation
Ceres Power reported its H1 2024 figures on Friday, highlighting strong revenue growth to GBP28.5m (>2.4x YoY, in line with FY24 cons. expectations for GBP56m). Backed by a favourable revenue mix, gross margin improved to >80% (vs 62% in H1 2023), allowing for significant operating leverage,Ceres Power Holdings is a fuel cell technology and engineering company. Co. is working with partners to embed its SteelCell™ technology in mass-market energy products for the commercial, residential and transportation markets. SteelCell™ is Co.'s Solid Oxide Fuel Cell. SteelCell™ is a perforated sheet of steel with special screen-printed ceramic layers that electrochemically convert a variety of fuels directly into power. The principal activity of Co.'s subsidiary, Ceres Power Ltd is the commercialisation and continued development of Co.'s fuel cell technology.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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