Intelligent Energy facing uncertain outlook

Writer, Stock Market Wire
Friday, September 22, 2017 - 07:25

Intelligent Energy has warned that it faced an uncertain outlook dud to the slower than expected development of the market.

It forecast that revenues for the year to the end of September would be around £21m compared with £91.8m last time.

It expected the adjusted loss before interest, tax, depreciation and amortisation would fall to around £17m from £33.4m and the after-tax loss to be around £24m - down from £82.7m.

An update said: 'While the group has made progress in advancing its commercial strategy, its constrained financial resources has led the board to initiate a sale process for some or all of the businesses and/or assets held by the company's subsidiaries as one of its strategic options, however there is no guarantee that any sale will be achieved.

'Given the slower than expected development of the market and the group's financial structure, the group faces an uncertain outlook.'


Related content

Intelligent Energy losses narrow

Pre-tax losses at Intelligent Energy fell to £13.3m in the six months to the end of March - down from £45.9m a year ago.

Revenues...

Fri, 30/06/2017 - 09:24


IE signs stationary power deal

Intelligent Energy has signed a stationary power deal with US-based Luxfer-GTM Technologies as part of a growing strategic relationship in the development of a line...

Mon, 20/02/2017 - 09:34


Intelligent Energy revenues up

Intelligent Energy's revenues rose to £91.8m in the year to the end of September - up from £78.2m last time.

The loss before interest, tax,...

Mon, 21/11/2016 - 07:46


Intelligent Energy revenues up

Intelligent Energy expects revenue for the year to the end of September to be over £90m (FY 14/15 £78m).

Adjusted EBITDA is expected to...

Wed, 21/09/2016 - 09:09


Intelligent Energy losses widen

Intelligent Energy posts after-tax losses of GBP67.3m for the six months to the end of March compared with GBP21.4m a year ago.

Revenue for the...

Tue, 31/05/2016 - 07:32