UK's Pinewood H1 revenue jumps on new customers, Seez integration
UK's Pinewood H1 revenue jumps on new customers, Seez integration
Overview
UK automotive software firm's H1 revenue rose 18.4% on new customers and Seez integration
Underlying profit before tax fell 13.6% as admin costs and North American investment rose
Outlook
Pinewood expects FY26 underlying EBITDA to be £21m, in line with previous company guidance
Company reaffirms FY28 underlying EBITDA guidance of £62m
Result Drivers
NEW CUSTOMERS AND CROSS-SELL - Co said H1 revenue growth was driven by new customer acquisitions and cross-selling to existing clients
SEEZ INTEGRATION - Integration of Seez AI products contributed to revenue growth and impacted gross margin
NORTH AMERICAN INVESTMENT - Increased investment in North American roll-out raised admin expenses and reduced underlying profit
Company press release: ID:nRSd8489Wa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Underlying Revenue |
| GBP 23.2 mln |
|
H1 Underlying Gross Profit |
| GBP 19.8 mln |
|
Analyst Coverage
The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 25 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)