Business
Interim Results
Ceres Power Holdings PLC announced its interim results for the six months ended 30 June 2025. The company's cash and short-term investments stand at £104.1 million, up from £102.5 million in December 2024, reflecting a positive cash inflow of £1.6 million. Revenue decreased by 26% to £21.1 million compared to £28.5 million in H1 2024. Gross profit also decreased by 27% to £16.6 million, with a gross margin of 79%. Operating costs before exceptional items decreased by 6% to £35.6 million. The adjusted EBITDA loss increased to £11.3 million from £9.0 million in the prior year. The Board anticipates revenue for the year ending 31 December 2025 to be around £32 million. Delta has committed approximately £170 million on assets for manufacturing hydrogen energy solutions. Disclaimer*
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n\n\n\n\n\nCWR.L\n26 September 2025\n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (\"UK MAR\") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \nCeres Power Holdings plc\n \nInterim results for the six months ended 30 June 2025\n \nCeres Power Holdings plc (\"Ceres\", the \"Company\") (CWR.L), a leading developer of clean energy technology, announces its results for the six-month period ended 30 June 2025.\n \nFinancial highlights\n· Strong balance sheet with cash and short-term investments of £104.1 million (December 2024: £102.5 million), following positive cash inflow of £1.6 million (H1 2024: outflow of £13.9 million) received in the period as a result of disciplined working capital management\n· Revenue decreased 26% to £21.1 million (H1 2024: £28.5 million), in line with management expectations following significant one-off licence revenue as part of the Delta agreement in 2024\n· Gross profit decreased 27% to £16.6 million (H1 2024: £22.9 million), reflecting lower revenues in the period\n· Gross margin of 79% (H1 2024: 80%)\n· Operating costs (before exceptional costs) decreased by 6% to £35.6 million (H1 2024: £37.9 million) following the cost base rationalisation announced in 2024 and continued financial discipline\n· Adjusted EBITDA loss increased to £11.3 million (H1 2024: £9.0 million)\n \nCommercial highlights year to date\n· Doosan factory starts cell and stack production: In July 2025 Doosan became the first Ceres partner to enter mass production of products using Ceres solid oxide fuel cell (SOFC) technology. Exciting growth applications include AI-driven data centre power, energy grid stabilisation, power systems for buildings and auxiliary power for marine. The royalty revenue streams...