ITM Power Announces Strong Financial Turnaround

ITM Power (GB:ITM) has released an update.

ITM Power PLC has reported significant financial improvements for the year ending April 30, 2024, with revenues tripling from the previous year, EBITDA losses cut by more than half, and net cash surpassing expectations. These positive changes are a result of the company’s 12-month transformation plan, focusing on cost control and efficient capital management. The full details and future guidance are anticipated to be disclosed in the upcoming preliminary results on August 15, 2024.

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