| Market cap (m) | £394.3 |
| Enterprise value (m) | £200.1 |
ITM Power PLC designs and manufactures integrated hydrogen energy systems for energy storage and clean fuel production. The company is also involved in the research and development of scientific and engineering projects; the development and manufacture of prototype products; and the sale of electrolyzer products such as HGas, HFuel, HPac. It offers a range of services including construction, consulting, and other services. Its primary geographic markets are the United Kingdom, the Rest of Europe, Germany, and with maximum revenue from the United Kingdom.
ITM Power reported for the six months to October 31 revenue of GBP18.0 million, an adjusted EBITDA loss of GBP11.9 million, and period-end cash of GBP197 million. It said activity increased in Europe, led by Germany, with the UK progressing, while policy shifts have created uncertainty in the US.
The company left full-year guidance unchanged, expecting revenue of GBP35 million to GBP40 million, an adjusted EBITDA loss of GBP27 million to GBP29 million, and year-end cash of GBP170 million to GBP175 million.