Invinity Energy Systems plc (IES) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. I'm joined by my colleague, Matt Harper. Matt is our chief commercial officer. And I'm sat here in the capacity, of course, as chief executive, which is a change from the past and also holding the mantle for CFA. And we'll cover that in a minute as to how we plan to address that. Welcome, everybody. I haven't had the chance to talk to you since we put out a trading statement in early September, and that has been front and centre of everybody's mind. So I think I'd like to sort of approach this interim results presentation slightly differently than we've done before and pretty much head into addressing the key issues that we raised at early September. And then also, of course, that we've tried to address or shown how we're starting to address with the interims. For those of you who are new to the story, there are a couple of slides at the beginning that will be on the website that you can read. There is also other footage talking more generally about Infinity Energy Systems. But I prefer to use this time to go through some of the nearer term questions which people have and then make sure we've got time to answer those questions. So I'm going to move to our corporate priority slide. And very specifically, the trading statement which we put out in September was, of course, disappointing. And I'm not going to pretend that it wasn't. I think it's right. we acknowledge that front and centre. There really were two key issues that sat within that, one of which was the conversion of the commercial pipeline into orders and also, more specifically, the revenue expectations for those orders both this year and next year. And then alongside that, where we were in the cycle of developing Mistral and making sure that the costs for that were at t...