ITM Power Plc (ITM.L), an energy storage and clean fuel company, said on Monday that its first-half trading was on track to achieve its annual revenue guidance.
For the six-month period to October 31, the company expects to register revenue of 7.5 million pounds, showing that it is well on track to achieve the annual guidance of 10 million pounds to 18 million pounds.
For the first-half, excluding items EBITDA loss is projected to be in the range of 22 million pounds to 23.5 million pounds, which is trending well against lower end of the annual guidance of 45 million pounds to 55 million pounds.
Dennis Schulz, CEO of ITM, said: "The first 6 months of the financial year from May to October already paint the early picture of a new ITM, surpassing the full year revenue of each of the last two years by about 50% in just the first half of this year."
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