ITM Power PLC (LSE:ITM)

Half Year 2026 ITM Power PLC Earnings Call Transcript

Jan 29, 2026 / 09:00 AM GMT

Release Date Price: £0.63 (-5.97%)

Transcript

Key Points

Positve

ITM Power PLC (ITMPF) reported its highest half-year revenue in history, driven by strong equipment sales and engineering contracts.
The company has a strong balance sheet with a cash position of £197.8 million, reflecting disciplined cash management.
ITM Power PLC (ITMPF) has successfully transitioned some projects to a percentage of completion revenue recognition method, enhancing revenue visibility.
The introduction of the Alpha 50 product has been well-received, with significant interest from industrial customers.
The company has made significant operational improvements, including reducing electrolysis testing time by half, increasing throughput and efficiency.

Negative

Despite record revenues, ITM Power PLC (ITMPF) reported a gross loss of £6.5 million, although this is an improvement from the previous year.
The company continues to face challenges with legacy contracts, which do not contribute to margins and are expected to be recognized over the next 18 months.
There is uncertainty regarding the timing of customer final investment decisions (FIDs), which can impact project timelines and revenue recognition.
The company operates in an inflationary environment, which may lead to increased costs in the second half of the year.
ITM Power PLC (ITMPF) has not provided specific guidance on when it expects to achieve positive EBITDA, indicating ongoing financial challenges.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ITM.L - ITM Power PLC
Half Year 2026 ITM Power PLC Earnings Call
Jan 29, 2026 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the ITM Power PLC investor presentation. Throughout this recorded meeting, investors will be in listen-only mode. Questions can be submitted at any time by the Q&A tab situated in the right hand corner of your screen, just simply type in your question and press send. Company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll.

I'd now like to hand you over to the team at ITM Power PLC. Good morning.

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