Ceres Power Holdings plc (CPWHF) Q4 2024 Earnings Call Transcript

2025-03-21 16:03:27 ET

Ceres Power Holdings plc (CPWHF)

Q4 2024 Earnings Conference Call

March 21, 2025, 05:30 AM ET

Company Participants

Patrick Yau - IR

Phil Caldwell - CEO

Stuart Paynter - CFO

Conference Call Participants

Ken Rumph - Goodbody

James Carmichael - Berenberg

Chris Leonard - UBS

Skye Landon - Redburn Atlantic

Sean McLoughlin - HSBC

Presentation

Patrick Yau

Good morning, ladies and gentlemen, and welcome to the Ceres 2024 Full Year Results Meeting. In a moment, Phil Caldwell, CEO; and Stuart Paynter, CFO, will take you through the results. Just a reminder, there will be a Q&A session afterwards. So if you're in the room, please wait for a microphone to reach you before asking your question. And if you're participating online, please type your question into the box provided, and we will address those towards the end. With that, I'll hand over to Phil to talk you through our record year. Thank you.

Phil Caldwell

Good morning, everybody, and thank you for joining us this morning. I was just thinking on my way in, this is probably my 11th or 12th year of doing the full year results for Ceres. And it's an interesting time to be doing it because what we're reporting today is a record year for Ceres in almost every metric. The business has never been in a stronger position than it is now despite quite a few economic uncertainties and headwinds. And I think we can dive into that this morning into why I think the business is in really good shape now and for the future.

Many of you know the business, but just a quick reminder. We are world leaders in solid oxide technology for both power and hydrogen generation and I think that's fundamental. We have unique IP because what we do is difficult, unique and valuable to many nations looking to decarbonize, many companies looking at how they reinforce power grids right now, and it's protected by over 150 patent families. Because it's unique, difficult and well protected, we can apply a licensing business model that is able to go cross-borders at a time where we have tariffs and trade wars going on around us, where we're seeing more localization of production, where we're seeing more shortening of supply chains. So we have a very strong position, not just in technology but in the way we apply the technology to the business model. And we continue to collaborate with some of the world's leading companies to deliver clean energy technology at the scale and pace that we believe we need to tackle the urgent need for decarbonization globally....

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