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ITM Power hails progress as loss widens

Richard Heap
August 21, 2023

Green hydrogen electrolyser maker ITM Power has reported a loss of £94.2m in its 2023 financial year but said it is making "tangible progress" to tackle supply issues.

The company has reported its results for the year that ended on 30th April 2023. It saw revenue fall 7% year-on-year to £5.2m and its EBITDA loss more than double to £94.2m in the same period. However, it said that increased deliveries in the last six months showed it was making progress to boost revenue and narrow losses in 2024.

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