ITM Power: FY24 improvements, cautious FY25 outlook
ITM Power has reported FY 2024 numbers with revenue more than tripling YoY to GBP16.5m (-9% vs cons. at GBP18.2m, +2% vs BGe at GBP16.2m) and a better than expected EBITDA loss at GBP30.5m (+30% vs cons. at -GBP44.0m and BGe at -GBP43.7m). Measures taken by Dennis Schulz (CEO) since late 2022, aimeITM Power designs and manufactures integrated hydrogen energy systems for energy storage and clean fuel production. Co.'s subsidiaries include: ITM Power (Research) Limited, which is engaged in the research and development of scientific and engineering projects; ITM Power (Trading) Limited, which develops and manufactures prototype products; ITM Energy Ltd, ITM Fuel Ltd, and Orkney Hydrogen Trading Ltd, which sell hydrogen; ITM Motive, is engaged in the production of drivetrains for use with hydrogen; and ITM Power GmbH, ITM Power Inc, and ITM Power ApS, which sell electrolysis equipment and hydrogen storage solutions.
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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