Importance Score: 25 / 100 🔵
ITM Power Shares Surge as Green Hydrogen Firm Boosts Revenue Forecast
Shares in ITM Power experienced a significant surge, climbing almost 20% on Tuesday, after the green hydrogen company announced an uplift to its annual revenue guidance. The AIM-listed entity informed investors that it had met ‘additional contractual obligations,’ enabling the recognition of associated revenues and fueling investor optimism in the stock market.
Improved Financial Outlook
This development signifies a turnaround for Sheffield-based ITM Power, a manufacturer of proton exchange membrane electrolysers utilized for hydrogen production from renewable energy sources. Previously, customer delays had compelled the company to reduce its financial projections in August.
The company’s revised expectations now project annual revenues between £25.5 million and £26.5 million. This represents a substantial 30% increase from the previous forecast of £18 million to £22 million issued in August.
ITM Power also anticipates declaring a net cash position ranging from £204 million to £205 million, attributed to a robust ‘cash generative’ performance during the latter half of the year.
The initial cash guidance, provided in August 2024, was set between £160 million and £175 million, and subsequently raised to £185 million to £195 million in January 2025.
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Green power: ITM manufactures proton exchange membrane electrolysers to produce hydrogen using renewable energy sources
Executive Commentary
Chief Executive Officer Dennis Schulz commented, ‘ITM is maintaining a strong revenue performance while diligently managing costs and capital expenditure.’
Despite the improved revenue outlook, the group still projects an adjusted earnings figure between £32 million and £36 million for the fiscal year.
Market Reaction
ITM Power shares witnessed a dramatic increase of over 20% in early trading sessions, before receding slightly to trade approximately 9% higher at 31.45p by mid-morning.
Over the preceding 12 months, the shares have decreased by 38%.
Schulz further added, ‘Our robust balance sheet serves as a crucial differentiator within the competitive landscape. Moreover, our contract backlog and sales pipeline have demonstrated continued expansion.’
‘We are favorably positioned as customer Final Investment Decisions (FIDs) accelerate through fiscal year 2026,’ he concluded, highlighting the company’s future prospects within the green hydrogen market.
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