ITM Power lifts FY revenue guidance, cites strong project progress

(Sharecast News) - ITM Power lifted its full-year revenue guidance on Tuesday by more than 10%, citing strong project progress. In a brief statement, the company said it now expects FY26 revenue of between £40m and £43m, up 11% at the midpoint versus previous guidance of £35m to £40m.

"This increase is due to strong project progress," it said. "Following our adoption of the percentage-of-completion (PoC) method, which enables revenue to be recognised progressively over the life of the contract, the increased guidance also reflects contributions from recently announced contracts."

Guidance for adjusted earnings before interest, tax, depreciation and amortisation and cash was unchanged.

Chief executive Dennis Schulz said: "ITM continues to deliver strong revenue performance while increasing our firm contract backlog, and we remain well-positioned with a healthy level of sales activity."

At 1020 GMT, the shares were up 1.2% at 65.04p.