ITM Power Revenue Jumps 68% as Annual Losses Narrow

Key Facts

1ITM Power's annual revenue rose 68% to £43.6 million for the financial year ending April 30.

2Adjusted EBITDA losses narrowed by 39% to £20.2 million from £33 million in the previous year.

ITM Power's annual revenue rose 68% to £43.6 million for the financial year ending April 30. Proactive Investors reported that adjusted EBITDA losses narrowed by 39% to £20.2 million, down from £33 million in the previous year.

The company attributed the improved performance to an expanded project pipeline and government support for new manufacturing capacity, with the contract backlog standing at £144 million. ITM Power also launched its Hydropulse business to operate green hydrogen plants, while year-end cash increased to £215.6 million supported by equity investment and government grants.