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Having read the report , I would rather be in than out.
Fantastic investor confidence which has lead to a cash reserve of over £ 300 million.
The partnership with Linde will come into its own with the massive foot it gives ITM into the German market , this will almost be certain to be the location of the 3rd 2.5 GW factory off the back of the German governments commitment to green hydrogen.
Should push things back over 300p and well on the way back to 400p + when you look at the near term future increase in sales blowing all other years out of the water.
Yes that's my conclusion re business situation as well psmith, although I think it will also be influenced by how the current sector trend plays out short term.
I'll read the more knowledgeable here with interest To me just the same as ever 4.2m if they went on dragons den with their valuation The den would be laughing all series
Still let's see what bilbo etc thinks Hopefully they see better
Reposted here to follow nice positive post
The number I was waiting for is the pipeline change since mid-December update. It hasn't dropped by 200MW (the ThyssenKrupp announcement that went elsewhere). Does that mean the ThyssenKrupp project was never in our list anyway? Or have we added a further circa 200MW to take its place?
Toneman. Given they went for an alkali system, it is possible we were never on that tender list. The application is not the same.
They did manage to slip this "Project win for 24 MW in ammonia application, awarded in January 2022" into the system without reporting it in the RNS. Which is interesting as it suggests they don't feel the need to report orders at that level. I'm going to guess the Thyssen was never in the lists.
Sector is out of favour and reaction to the results reflects this mood.
Excellent point tennents. That's almost certainly the reason for little change in that number. I guess we've lost a small opportunity given the 29MW drop in the pipeline.
Yes, it's all gone down terribly well!
So far getting the same treatment as Mcphy results yesterday. They were down 10% whilst the rest of the sector was up 7%. So if the reaction continues we could expect to lose all of yesterday's gain and maybe another 10% on top. Rocky road.
Hedge fund short-sellers take aim at green energy stocks
Talks about wind turbine makers and hydrogen producers etc across Europe
Mentions that Anaconda Invest, - short hydrogen groups ITM Power and McPhy and solar technology company Enphase Energy.
https://www.ft.com/content/05d218ea-982b-4e95-add1-26550316b2f0
Looking at the rns for future growth, regarding the backlog + pipeline figures. On one line it shows figures of a 179% change for MW whilst on the lower line for £ it shows figures for 16% change. Anyone provide the basis of these figures?
This will bounce back today, results aren’t anything different to what anyone expected.
People with stop losses will just get caught out by bigger players.
If you’re in it for the long game you can’t go wrong at these prices. You’ve got to remember a lot of institutions signed up at 400p.
£300m cash in the bank with relatively low cash burn.
Pending deals should be confirmed throughout the start of this year, sales are just going up year on year.
I genuinely thought it was a good rns and I’m happy to be in because this will be the future.
Good luck everyone else.
I concur mango
Top up, top up, top up. Hydrogen is the fuel of the future - New Year sales opportunity!
Burn the shorters. Just topped up at 245p.
Thank you shorters et al.
Hi Markbantam, I can't fully explain the reason for the large difference between MW pipeline and revenue £. Is there a Joint Venture agreement where ITM build the electrolysers for another company and share the profits? Or it could also be partly related to economies of scale, the price for larger units is forecast to come down over time ass per this article- https://www.rechargenews.com/energy-transition/green-hydrogen-itm-power-s-new-gigafactory-will-cut-costs-of-electrolysers-by-almost-40-/2-1-948190
It's a pity there has to be secrecy around the new ammonia project. I bet it's a massive opportunity. Linde recently announced a big project in South Africa. Do we think this order is directly related? I suspect it is. If the sp is dropping just because of the expected low financials, then once again they're completely missing the bigger picture.
Will there be a reaction after the Analysts call meeting?
aandi, thanks for your input re JV. I am surprised that a nearly 3x increase in "MW sales" leads to only a 16% increase in revenue. I'm must be missing something as I don't think that is good!
The pricing anomaly was pointed out a while ago. Not sure we came up with an answer though from memory I think Bilbs had a dash at it. Bilbs?
I think the analysts call meeting might be softening the reaction a little.
Looking at the figures again , I really can’t see any explanation other than a ****erel up. The difference , 16% to 179% is simply massive. We need an explanation. Even if recent negotiations have been at lower prices the % reduction is away with the fairies. Maybe they are understating the £’s. How do we ask them?
Seaangler, you can ask through the InvestorMeets platform this afternoon. Otherwise it might be worth a direct email. They're pretty good at responding to emails.
Thanks Tone. If I was around I would. Will drop them an email though if it doesn’t get addressed this afternoon. It’s a pretty obvious item.