Ceres Power Hldgs Plc (CPWHF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

and welcome to the Ceres Power Holdings PLC interim results investor presentation. Throughout this recorded presentation, investors will be in listen-only mode. Questions are encouraged, and they can be submitted at any time using the Q&A tab just situated on the right-hand corner of your screen. Before we begin, we'd like to submit the following poll, and I'm sure the company would be most grateful for your participation. And I'd now like to hand over to CEO Phil Caldwell. Good morning. Good morning, everybody, and thank you for joining. I'm joined by Eric Lakin, CFO, and this morning we're going to talk you through what I believe is a very strong set of interim results for Ceres Power. So we've been having a fantastic year this year. We've signed two new stack license partners, major manufacturers, and one system license partner this year to date. That's resulted in a record first half year revenue, increasing by 144% to 28.5 million. and gross profit increasing also by more than 200% to 22.9 million. That's backed by a record order intake of just under 47 million in the first half. And we've been busy since then as well. So order intake as we stand at the end of August is actually over 100 million. We now have four global stock manufacturing license partners progressing towards scale production. And it's not just that we have four, but it's the quality of these people that we're working with with the addition of Delta and Denso this year on top of Bosch and Doosan. As a licensing business, it's essential we maintain technology leadership. And I'm very pleased that our development on SOEC has gone very well. We have the one megawatt demonstrator currently being commissioned with Shell as we speak. And we've entered into a joint development with them on scaling that...