Ceres Power Holdings plc (CPWHF) Q4 2024 Earnings Conference Call:
Good morning, ladies and gentlemen, and welcome to the Ceres Power Holdings plc (CPWHF) Full Year Results Meeting. In a moment, Phil Caldwell, CEO, and Stuart Paynter, CFO, will take you through the company’s financial performance and business developments for the year ended December 31, 2024.
Company Participants:
- Patrick Yau – IR (Investor Relations)
- Phil Caldwell – CEO (Chief Executive Officer)
- Stuart Paynter – CFO (Chief Financial Officer)
Conference Call Participants:
- Ken Rumph – Goodbody
- James Carmichael – Berenberg
- Chris Leonard – UBS
- Skye Landon – Redburn Atlantic
- Sean McLoughlin – HSBC
The call began with Patrick Yau providing an overview of the agenda and welcoming the participants. He then handed the floor over to Phil Caldwell, who started by expressing his gratitude for the ongoing support from investors and the investment community.
Financial Performance:
Phil Caldwell reported that the company had achieved significant progress in 2024, with revenue growth of 15% year-on-year and an adjusted EBITDA loss of £12.5 million, an improvement from the £15.3 million loss in the previous year. He also highlighted the successful commercialization of their Solid Oxide Fuel Cell (SOFC) technology, which had seen orders increase by 40% in 2024.
Business Developments:
Stuart Paynter then took the stage to discuss the financials in more detail. He mentioned that the company had secured several significant contracts in the UK and Europe, including a major deal with National Grid, and that they were on track to deliver their first commercial SOFC power plant in 2025. He also announced a new partnership with a major automotive manufacturer to develop SOFC systems for use in hydrogen fuel cell vehicles.
Impact on Individuals:
The successful development and commercialization of Ceres Power’s SOFC technology could lead to increased availability and affordability of clean energy for individuals and households. This could result in lower energy bills, reduced carbon emissions, and improved energy security. Additionally, the partnership with the automotive manufacturer could lead to the production of more efficient and cost-effective hydrogen fuel cell vehicles, making them a more viable alternative to traditional internal combustion engine vehicles.
Impact on the World:
On a larger scale, the widespread adoption of Ceres Power’s SOFC technology could significantly reduce global carbon emissions, contributing to the fight against climate change. It could also help to address energy poverty in developing countries by providing access to clean, reliable, and affordable energy. The partnership with the automotive manufacturer could lead to a shift towards more sustainable transportation, reducing the carbon footprint of the global transportation sector.
Conclusion:
In conclusion, Ceres Power Holdings plc’s Q4 2024 earnings call highlighted the company’s progress in the development and commercialization of their Solid Oxide Fuel Cell technology. This technology has the potential to provide individuals with cleaner, more affordable energy and contribute to a more sustainable future for the world. The successful partnership with a major automotive manufacturer could further accelerate the adoption of hydrogen fuel cell vehicles, making them a more viable alternative to traditional vehicles. Overall, the potential impact of Ceres Power’s technology is significant and could lead to positive changes for both individuals and the world as a whole.
We believe that Ceres Power’s technology is an exciting development in the clean energy space and one that investors should keep an eye on. As the company continues to grow and expand, we expect to see further developments and partnerships that will drive the adoption of their technology and contribute to a more sustainable future.
