Quantum Data Energy (QDE) H1 2024 earnings summary

Executive summary

• Gross profit margin improved due to operational optimizations at Pyebridge and first Capacity Market contract income.

• Pyebridge site returned to operation after care & maintenance, with refurbishment enabling revenue generation from April 2024.

• Terminated joint venture with Proventure Holdings for breach of payment obligations; focus shifted to optimizing Pyebridge and maintaining other development projects.

Financial highlights

• Revenue for the six months ended 30 June 2024 was £202,258, slightly higher than the prior interim period, mainly from Pyebridge T-1 Capacity Market payments and electricity generation.

• Gross profit for the period was £116,659, up from £73,430 year-over-year.

• Loss for the period decreased to £492,055 from £773,750 year-over-year, reflecting improved gross margin and reduced administrative and project expenses.

• No dividends declared or paid during the period.

Outlook and guidance

• Revenue growth expected as projects transition from development to commercial production.

• Ongoing refurbishment at Pyebridge aims to further enhance operational efficiency and revenue.

• Plans to grow portfolio to 100 MW capacity in the short- to medium-term through development and acquisition.