RE: Interesting…16 Sep 2024 13:26
Outlook
Including the UKIB investment for UK projects, as at 30 June 2024, the Company had cash reserves of £49.2m. By maintaining strict capital discipline and a focus on targeted sales in 2025 as referenced above, the Company believes it will enter 2026 in a position to deliver Mistral at industry standard margins and an ever-growing production rate, together sufficient to achieve EBITDA breakeven and set the Company on a sustainable future.
Jonathan Marren, Chief Executive Officer at Invinity said:
"The development team, in collaboration with our joint development and commercialisation partner, have rightly focused on ensuring that Mistral is capable of delivering the performance characteristics being demanded by customers and the market; I am very pleased with the results to date. We aren't yet where we wanted to be on working through the identified initiatives aimed at reducing production costs to the level we believe we can attain but have confidence this can be achieved in 2025 ahead of material volumes at sustainable margins in 2026 and beyond.