Income Statement Ceres Power Holdings plc

Equities

CWR

GB00BG5KQW09

Renewable Energy Equipment & Services

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Published financial data: CERES POWER HOLDINGS PLC

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	30.78M	22.13M	22.32M	51.89M	32.64M
Total Revenues	30.78M	22.13M	22.32M	51.89M	32.64M
Cost of Goods Sold, Total	10.43M	9.08M	8.77M	11.73M	9.94M
Gross Profit	20.35M	13.05M	13.55M	40.16M	22.7M
Selling General & Admin Expenses, Total	13.41M	17.56M	22.59M	25.8M	21.51M
R&D Expenses	31.29M	48.35M	54.03M	48.53M	48.56M
Other Operating Expenses	-924K	-1.33M	-3.66M	-2.85M	-3.17M
Other Operating Expenses, Total	43.78M	64.57M	72.96M	71.48M	66.9M
Operating Income	-23.43M	-51.52M	-59.4M	-31.32M	-44.2M
Interest Expense, Total	-316K	-212K	-347K	-243K	-245K
Interest And Investment Income	438K	2.66M	7.08M	5.81M	4.06M
Net Interest Expenses	122K	2.44M	6.73M	5.56M	3.82M
Currency Exchange Gains (Loss)	-	173K	-805K	-79K	-
Other Non Operating Income (Expenses)	-64K	-92K	-135K	-40K	-342K
EBT, Excl. Unusual Items	-23.37M	-49M	-53.61M	-25.87M	-40.73M
Gain (Loss) On Sale Of Investments	-	-	-	-	-2.16M
Other Unusual Items	-	-	-	-	-3.42M
EBT, Incl. Unusual Items	-23.37M	-49M	-53.61M	-25.87M	-46.31M
Income Tax Expense	-1.97M	-3.87M	399K	2.43M	1.24M
Earnings From Continuing Operations	-21.4M	-45.12M	-54.01M	-28.3M	-47.55M
Net Income to Company	-21.4M	-45.12M	-54.01M	-28.3M	-47.55M
Net Income - (IS)	-21.4M	-45.12M	-54.01M	-28.3M	-47.55M
Net Income to Common Incl Extra Items	-21.4M	-45.12M	-54.01M	-28.3M	-47.55M
Net Income to Common Excl. Extra Items	-21.4M	-45.12M	-54.01M	-28.3M	-47.55M
Per Share Items
Net EPS - Basic	-0.12	-0.24	-0.28	-0.15	-0.25
Basic EPS - Continuing Operations	-0.12	-0.24	-0.28	-0.15	-0.25
Basic Weighted Average Shares Outstanding	186M	191M	193M	193M	194M
Net EPS - Diluted	-0.12	-0.24	-0.28	-0.15	-0.25
Diluted EPS - Continuing Operations	-0.12	-0.24	-0.28	-0.15	-0.25
Diluted Weighted Average Shares Outstanding	186M	191M	193M	193M	194M
Normalized Basic EPS	-0.08	-0.16	-0.17	-0.08	-0.13
Normalized Diluted EPS	-0.08	-0.16	-0.17	-0.08	-0.13
American Depositary Receipts Ratio (ADR)	0.5	0.5	0.5	0.5	0.5
Supplemental Items
EBITDA	-19.22M	-45.96M	-51.86M	-23.7M	-36.67M
EBITA	-23.43M	-51.44M	-59.32M	-31.17M	-43.77M
EBIT	-23.43M	-51.52M	-59.4M	-31.32M	-44.2M
EBITDAR	-	-	-	-	-
Effective Tax Rate - (Ratio)	8.43	7.9	-0.74	-9.4	-2.68
Normalized Net Income	-14.61M	-30.62M	-33.51M	-16.17M	-25.46M
Interest on Long-Term Debt	316K	217K	248K	243K	245K
Supplemental Operating Expense Items
Selling and Marketing Expenses	2.17M	2.39M	4.9M	7.78M	7.32M
General and Administrative Expenses	11.24M	15.16M	17.68M	18.01M	14.2M
Research And Development Expense From Footnotes	31.29M	48.35M	54.03M	48.53M	48.56M
Net Rental Expense, Total	-	-	-	-	-
Maintenance & Repair Expenses, Total	589K	1.04M	1.03M	841K	1.02M
Stock-Based Comp., Other (Total)	2.62M	997K	67K	964K	1.26M
Total Stock-Based Compensation	2.62M	997K	67K	964K	1.26M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	151M	63.31M	49.71M	47.49M	35.84M
Short Term Investments	93.13M	119M	90.25M	54.97M	47.44M
Total Cash And Short Term Investments	245M	182M	140M	102M	83.27M
Accounts Receivable, Total	9.62M	15.13M	5M	17.2M	15.08M
Other Receivables	6.24M	12.81M	7.22M	8.01M	5.59M
Total Receivables	15.87M	27.95M	12.22M	25.22M	20.67M
Inventory	3.14M	5.71M	2.82M	2.76M	3.2M
Prepaid Expenses	673K	869K	1.19M	1.43M	1.45M
Other Current Assets, Total	1.39M	54K	8K	883K	-
Total Current Assets	266M	217M	156M	133M	109M
Gross Property Plant And Equipment	41.55M	46.49M	53.69M	58.02M	58.85M
Accumulated Depreciation	-20.97M	-17.88M	-25.67M	-32.6M	-38.59M
Net Property Plant And Equipment	20.58M	28.61M	28.02M	25.42M	20.26M
Long-term Investments	5.5M	2.46M	2.35M	2.22M	-
Other Intangibles, Total	8.48M	13.28M	19.05M	19.97M	16.2M
Other Long-Term Assets, Total	741K	741K	741K	741K	741K
Total Assets	301M	262M	206M	181M	146M
Liabilities
Accounts Payable, Total	2.42M	4.8M	3.62M	2.01M	1.35M
Accrued Expenses, Total	4.8M	6.52M	5.93M	6.58M	3.91M
Current Portion of Leases	754K	610K	694K	731K	834K
Current Income Taxes Payable	-	-	-	-	-
Unearned Revenue Current, Total	5.3M	7.16M	7.84M	10.93M	23.53M
Other Current Liabilities	1.94M	1.07M	2.1M	1.97M	3.6M
Total Current Liabilities	15.22M	20.14M	20.19M	22.22M	33.22M
Long-Term Leases	2.28M	2.51M	1.9M	1.49M	1.58M
Unearned Revenue Non Current	-	-	1.36M	1.22M	976K
Other Non Current Liabilities	1.83M	1.93M	2.28M	2.34M	2.38M
Total Liabilities	19.34M	24.59M	25.74M	27.27M	38.15M
Common Stock, Total	19.07M	19.21M	19.3M	19.37M	19.47M
Additional Paid In Capital	405M	405M	406M	407M	407M
Retained Earnings	-153M	-198M	-256M	-283M	-329M
Comprehensive Income and Other	10.91M	10.91M	10.91M	10.91M	10.91M
Total Common Equity	282M	237M	181M	154M	108M
Total Equity	282M	237M	181M	154M	108M
Total Liabilities And Equity	301M	262M	206M	181M	146M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	191M	192M	193M	194M	195M
ECS Total Common Shares Outstanding	191M	192M	193M	194M	195M
Book Value / Share	1.48	1.24	0.94	0.79	0.55
Tangible Book Value	273M	224M	162M	134M	91.44M
Tangible Book Value Per Share	1.43	1.17	0.84	0.69	0.47
Total Debt	3.04M	3.12M	2.6M	2.22M	2.41M
Net Debt	-242M	-179M	-137M	-100M	-80.86M
Debt Equivalent Oper. Leases	-	-	-	-	-
Equity Method Investments, Total	500K	2.46M	2.35M	2.22M	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	1.3M	1.57M	1.65M	1.62M	1.31M
Inventories - Work In Process, Total	969K	1.48M	787K	759K	1.32M
Inventories - Finished Goods, Total	877K	2.67M	390K	376K	571K
Machinery, Total	28.42M	27.1M	33.75M	37.95M	38.34M
Full Time Employees	489	570	591	478	353
Order Backlog	37.4M	67.8M	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-21.4M	-45.12M	-54.01M	-28.3M	-47.55M
Depreciation & Amortization - CF	4.76M	6.11M	8.1M	8.18M	7.85M
Amortization of Goodwill and Intangible Assets - (CF)	-	77K	77K	148K	434K
Depreciation & Amortization, Total	4.76M	6.18M	8.18M	8.33M	8.29M
Amortization of Deferred Charges, Total - (CF)	1M	955K	947K	1.23M	3.42M
(Gain) Loss From Sale Of Asset	-	-	-	-	125K
(Gain) Loss on Sale of Investments - (CF)	-1.06M	1.02M	143K	-99K	2.31M
Stock-Based Compensation (CF)	2.62M	997K	67K	964K	1.26M
Other Operating Activities, Total	487K	-7.47M	1.29M	-3.95M	-5.28M
Change In Accounts Receivable	-6.44M	-8.67M	5.18M	-15.39M	7.2M
Change In Inventories	-1.04M	-2.57M	2.89M	69K	-447K
Change In Accounts Payable	2.83M	2.66M	1.85M	-1.81M	-3.72M
Change in Unearned Revenues	-3.22M	1.14M	106K	3.21M	12.6M
Change in Other Net Operating Assets	1.12M	-637K	-536K	-188K	1.72M
Cash from Operations	-20.34M	-51.52M	-33.9M	-35.94M	-20.07M
Capital Expenditure	-7.38M	-12.35M	-7.92M	-4.45M	-1.78M
Sale of Property, Plant, and Equipment	-	-	225K	-	-
Sale (Purchase) of Intangible assets	-4.57M	-5.83M	-6.8M	-2.29M	-87K
Investment in Marketable and Equity Securities, Total	-20.9M	-20.67M	21.17M	32.54M	7.44M
Other Investing Activities, Total	438K	1.44M	5.62M	8.47M	4.15M
Cash from Investing	-32.41M	-37.4M	12.29M	34.26M	9.73M
Long-Term Debt Repaid, Total	-405K	-744K	-658K	-774K	-792K
Total Debt Repaid	-405K	-744K	-658K	-774K	-792K
Issuance of Common Stock	181M	873K	809K	539K	99K
Other Financing Activities, Total	-10.38M	-212K	-393K	-243K	-495K
Cash from Financing	171M	-83K	-242K	-478K	-1.19M
Foreign Exchange Rate Adjustments	563K	863K	-223K	-57K	-132K
Net Change in Cash	118M	-88.15M	-22.08M	-2.21M	-11.66M
Supplemental Items
Cash Interest Paid	316K	212K	393K	243K	495K
Cash Income Tax Paid (Refund)	-3.08M	380K	-6.91M	1.02M	3.03M
Levered Free Cash Flow	-32.25M	-51.79M	-27.45M	-28M	-804K
Unlevered Free Cash Flow	-32.05M	-51.65M	-27.23M	-27.85M	-651K
Change In Net Working Capital	13.83M	9.41M	-15.42M	12.05M	-15.87M
Net Debt Issued / Repaid	-405K	-744K	-658K	-774K	-792K

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-6.53	-11.46	-15.94	-10.1	-16.9
Return on Total Capital	-7.13	-12.29	-17.67	-11.54	-20.76
Return On Equity %	-10.62	-17.42	-26.07	-16.93	-36.37
Return on Common Equity	-10.62	-17.42	-26.07	-16.93	-36.37
Margin Analysis
Gross Profit Margin %	66.12	58.97	60.71	77.4	69.55
SG&A Margin	43.58	79.34	101.17	49.71	65.91
EBITDA Margin %	-62.44	-207.68	-232.32	-45.67	-112.33
EBITA Margin %	-76.13	-232.47	-265.74	-60.07	-134.08
EBIT Margin %	-76.13	-232.82	-266.09	-60.35	-135.41
Income From Continuing Operations Margin %	-69.54	-203.9	-241.93	-54.55	-145.65
Net Income Margin %	-69.54	-203.9	-241.93	-54.55	-145.65
Net Avail. For Common Margin %	-69.54	-203.9	-241.93	-54.55	-145.65
Normalized Net Income Margin	-47.46	-138.38	-150.09	-31.16	-77.98
Levered Free Cash Flow Margin	-104.77	-234.01	-122.95	-53.96	-2.46
Unlevered Free Cash Flow Margin	-104.13	-233.41	-121.97	-53.67	-1.99
Asset Turnover
Asset Turnover	0.14	0.08	0.1	0.27	0.2
Fixed Assets Turnover	1.56	0.9	0.78	1.94	1.43
Receivables Turnover (Average Receivables)	4.46	1.79	2.59	4.67	2.02
Inventory Turnover (Average Inventory)	3.97	2.05	2.05	4.2	3.34
Short Term Liquidity
Current Ratio	17.45	10.77	7.74	5.98	3.27
Quick Ratio	17.11	10.44	7.54	5.75	3.13
Operating Cash Flow to Current Liabilities	-1.34	-2.56	-1.68	-1.62	-0.6
Days Sales Outstanding (Average Receivables)	81.76	204.16	140.79	78.3	180.5
Days Outstanding Inventory (Average Inventory)	91.92	178.08	177.69	87.09	109.42
Average Days Payable Outstanding	66.49	113.12	261.26	88.39	59.02
Cash Conversion Cycle (Average Days)	107.19	269.11	57.22	77	230.9
Long Term Solvency
Total Debt/Equity	1.08	1.32	1.44	1.44	2.24
Total Debt / Total Capital	1.07	1.3	1.42	1.42	2.19
LT Debt/Equity	0.81	1.06	1.05	0.97	1.46
Long-Term Debt / Total Capital	0.8	1.05	1.04	0.96	1.43
Total Liabilities / Total Assets	6.43	9.39	12.47	15.06	26.17
EBIT / Interest Expense	-74.15	-243.03	-171.18	-128.88	-180.41
EBITDA / Interest Expense	-59.09	-213.86	-147.61	-94.6	-146.59
(EBITDA - Capex) / Interest Expense	-82.44	-272.1	-170.44	-112.91	-153.84
Total Debt / EBITDA	-0.16	-0.07	-0.05	-0.1	-0.07
Net Debt / EBITDA	12.93	3.95	2.68	4.36	2.25
Total Debt / (EBITDA - Capex)	-0.12	-0.05	-0.04	-0.08	-0.06
Net Debt / (EBITDA - Capex)	9.27	3.11	2.32	3.65	2.15
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	45.71	-28.09	12.82	132.44	-37.09
Gross Profit, 1 Yr. Growth %	43.12	-31.47	26.57	196.33	-43.47
EBITDA, 1 Yr. Growth %	108.65	139.18	7.28	-54.31	54.73
EBITA, 1 Yr. Growth %	99.3	119.57	9.99	-47.46	40.42
EBIT, 1 Yr. Growth %	99.3	119.9	9.98	-47.28	41.14
Earnings From Cont. Operations, 1 Yr. Growth %	116.68	113.94	13.43	-47.59	67.98
Net Income, 1 Yr. Growth %	116.68	113.94	13.43	-47.59	67.98
Normalized Net Income, 1 Yr. Growth %	102.54	109.64	4.12	-51.74	57.42
Diluted EPS Before Extra, 1 Yr. Growth %	89.59	107.57	12.68	-47.77	67.48
Accounts Receivable, 1 Yr. Growth %	131.02	57.29	-59.12	244.31	-12.35
Inventory, 1 Yr. Growth %	49.26	81.69	-50.56	-2.44	16.22
Net Property, Plant and Equip., 1 Yr. Growth %	8.6	39.03	-3.48	-9.3	-20.3
Total Assets, 1 Yr. Growth %	104.02	-12.67	-20.48	-12.24	-19.5
Tangible Book Value, 1 Yr. Growth %	134.26	-17.66	-26.72	-17.16	-31.69
Common Equity, 1 Yr. Growth %	131.77	-15.41	-22.73	-14.84	-30.02
Cash From Operations, 1 Yr. Growth %	423.92	153.28	-33.31	6.02	-44.16
Capital Expenditures, 1 Yr. Growth %	19.55	67.37	-35.84	-43.84	-60.08
Levered Free Cash Flow, 1 Yr. Growth %	-	65.57	-45.5	2.02	-97.13
Unlevered Free Cash Flow, 1 Yr. Growth %	-	66.2	-45.79	2.27	-97.66
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	2.36	-14.83	61.94	20.92
Gross Profit, 2 Yr. CAGR %	-	-4.19	-15.64	93.66	29.42
EBITDA, 2 Yr. CAGR %	-	123.39	64.29	-29.99	-15.92
EBITA, 2 Yr. CAGR %	-	109.19	59.12	-23.98	-14.11
EBIT, 2 Yr. CAGR %	-	109.35	59.22	-23.86	-13.74
Earnings From Cont. Operations, 2 Yr. CAGR %	-	113.74	60.02	-22.9	-6.17
Net Income, 2 Yr. CAGR %	-	113.74	60.02	-22.9	-6.17
Normalized Net Income, 2 Yr. CAGR %	-	106.06	51.45	-29.11	-12.84
Diluted EPS Before Extra, 2 Yr. CAGR %	-	96.93	57.1	-23.29	-6.47
Accounts Receivable, 2 Yr. CAGR %	-	90.62	-27.94	18.63	73.72
Inventory, 2 Yr. CAGR %	-	64.68	-5.22	-30.55	6.48
Net Property, Plant and Equip., 2 Yr. CAGR %	-	22.87	16.69	-6.43	-14.98
Total Assets, 2 Yr. CAGR %	-	33.27	-17.06	-16.46	-15.95
Tangible Book Value, 2 Yr. CAGR %	-	38.64	-22.95	-22.08	-24.77
Common Equity, 2 Yr. CAGR %	-	39.78	-19.77	-18.88	-22.8
Cash From Operations, 2 Yr. CAGR %	-	264.28	29.09	-15.91	-23.06
Capital Expenditures, 2 Yr. CAGR %	-	41.45	3.63	-39.97	-52.65
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-6.32	-25.44	-82.89
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-6.4	-25.54	-84.54
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	1.86	19.02	18.16
Gross Profit, 3 Yr. CAGR %	-	-	-1.58	28.24	28.46
EBITDA, 3 Yr. CAGR %	-	-	77.91	7.24	-8.8
EBITA, 3 Yr. CAGR %	-	-	71.52	9.98	-6.73
EBIT, 3 Yr. CAGR %	-	-	71.6	10.15	-6.46
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	76.17	10.3	-0.05
Net Income, 3 Yr. CAGR %	-	-	76.17	10.3	-0.05
Normalized Net Income, 3 Yr. CAGR %	-	-	66.86	3.45	-7.52
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	66.45	8.83	-0.48
Accounts Receivable, 3 Yr. CAGR %	-	-	6.26	21.38	7.25
Inventory, 3 Yr. CAGR %	-	-	10.27	-4.31	-17.55
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	13.93	7.29	-11.31
Total Assets, 3 Yr. CAGR %	-	-	11.84	-15.48	-17.49
Tangible Book Value, 3 Yr. CAGR %	-	-	11.49	-21.07	-25.43
Common Equity, 3 Yr. CAGR %	-	-	14.13	-18.16	-22.78
Cash From Operations, 3 Yr. CAGR %	-	-	105.91	20.89	-26.64
Capital Expenditures, 3 Yr. CAGR %	-	-	8.68	-15.51	-47.6
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-3.62	-74.82
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-3.59	-76.52
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	9.1
Gross Profit, 5 Yr. CAGR %	-	-	-	-	9.81
EBITDA, 5 Yr. CAGR %	-	-	-	-	31.83
EBITA, 5 Yr. CAGR %	-	-	-	-	30.07
EBIT, 5 Yr. CAGR %	-	-	-	-	30.33
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	36.93
Net Income, 5 Yr. CAGR %	-	-	-	-	36.93
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	28.69
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	32.17
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	29.35
Inventory, 5 Yr. CAGR %	-	-	-	-	8.74
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	1.34
Total Assets, 5 Yr. CAGR %	-	-	-	-	-0.23
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	-4.74
Common Equity, 5 Yr. CAGR %	-	-	-	-	-2.39
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	38.89
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-22.05
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	-
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	-	-	-