Ceres Power Holdings Plc. (CPWHF) Q2 2024 Earnings Call Transcript

Ceres Power Holdings Plc. (OTCPK:CPWHF) Q2 2024 Earnings Conference Call September 27, 2024 4:30 AM ET

Company participants

Phil Caldwell – Executive Director
Eric Lakin – CFO
Patrick Yau – Director of Investor Relations

Conference participants

Ken Rumph – Goodbody
Sean McLoughlin – HSBC
Nick Walker – Peel Hunt
James Carmichael – Berenberg
Skye Landon – Redburn Atlantic

Operator

Welcome to the Ceres Power Holdings Plc Interim Results Investor Presentation. During this recorded presentation, investors will be in listen-only mode. Questions are encouraged and can be submitted at any time using the Questions and Answers tab located in the right corner of the screen.

Before we begin, we would like to send out the following survey and I am sure the company will be very grateful for your participation.

And now I’d like to turn over to the CEO, Phil Caldwell. Good morning.

Phil Caldwell

Good morning everyone and thank you for joining. Joining me is Eric Lakin, CFO. And this morning, we’re going to talk to you about what I think is a very strong set of interim results for Ceres Power.

So I had a fantastic year this year. To date, we have signed two new license partners, major manufacturers and one system license partner. This resulted in a record first half revenue increase of 144% to £28.5m and gross profit also increased by over 200% to £22.9m. This is supported by record order intake of just under £47m in the first half and we have been busy ever since. So the order intake at the end of August is actually over £100 million.

We now have four global stack manufacturing license partners that are progressing to scale production. And it’s not just that we have four, it’s the quality