Pretty poor update, doesn’t appear anything materially different, the backlog has increased, but a large chunk of that is the ITM Motive stuff previously announced.
Not turning into revenue currently.
Appears SP will drop off the back of this.
Expected unaudited financial results for the twelve months to 30 April 2022:
· Revenue of £5.5m (2021: £4.3m), impacted by:
o Deferral of 24 MW Leuna delivery of completed products and therefore revenue recognition of approximately £11m into FY23
· Adjusted EBITDA loss of c.£36.5m (£21.4m), impacted by:
o c.£7m Increased skills acquisition
o c.£14m project delivery & production ramp up
· Cash Burn of c.£52m (£37.7m), impacted by:
o c.£7m Product Development of MEP 2.0 and GEP 1.0
o c.£20m Ongoing WIP and inventory build
o c.£5m Production equipment for Bessemer Park
· Net cash at year-end of £364m (£176m)
Where’s the bottom this time
18% down, could have been worse I suppose, near the February lows as is
@CashCow will be mooing loudly in pain, I’m sure based on his past mentions of loss on this
I still have a large % of my holdings in ITM but I really don’t think you know who you’re talking to @woodyblade. The moment I invested in this stock it was doomed. I knew what to expect. I have previous form for this kind of thing.
Can we get an moderator in here please? Another forum member just called me a ho.
@CashCow I know your ITM Power shares are down but things could be a lot worse:
Bah, a non incident. Besides, walk into any Toby Carvery on a Sunday and it won’t be me that you see eating slices of 82 year olds with potatoes and gravy. It’s my kind who are the victim here!
Also I’m down 68.49% on ITM at the moment. I can’t even round that up to the funny number. I have the worst luck.
I was 60% up with my ITM Power shares not long ago and now I’m 17% down. I really need to start selling when things are on the up and purchasing again when they drop, it’s just that constant thought of will it go up more, should I sell etc.
I agree with you, think the cow has come off worse here, being attacked with a bicycle sounds extremely unpleasant!
Same! I’m wondering if Atome Energy is going to go up by 60% again like it had done a couple of months ago. I’ve been buying more of that while it is cheap but could be stable door/horse bolted!
Am a bit undecided whether to buy more ITM Power as well. On the one hand I do want to buy more of the cheaper stock to balance my portfolio a bit with the big players like Persimmon but on the other hand, those big players are “safer” for a reason!
Up 21p so far today. Any news why?
Just looking for info. Hoping Ceres follows suit too - it has in the past.
There is this: Shell bÄdzie produkowaÅ zielony wodÃ³r na ogromnÄ
skalÄ | GRAMwZIELONE.pl (use Chrome or Google Translate to translate it).
It doesn’t namecheck ITM but it could be that ITM have been selected as the partner for Hydrogen production and it’s yet to make it out to retail news.
ITM retweeting there plans for there 2nd hydrogen plant before putting them before Sheffield council.
Sharp rise so far any information why?