REG - Pod Point Group Hdgs - Trading Update

Pod Point groupAnnouncement

20/02/2024 07:00

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RNS Number : 6776D  Pod Point Group Holdings PLC  20 February 2024

20 February 2024

Pod Point Group Holdings PLC

("Pod Point" or "the Group")

 

Trading update: 2023 in line with expectations, net cash ahead

 

Pod Point, a leading provider of Electric Vehicle ('EV') charging solutions in
the UK, is pleased to announce the following trading update ahead of audited
full year results for 2023 to be announced in April.

 

Group results are expected to be in line with previously announced guidance of
revenue of at least £63m and adjusted EBITDA loss of no greater than £16m.
At 31 December 2023, net cash was £48.7m, slightly ahead of the guidance of
at least £47m.

 

The Group has made good progress on the strategic initiatives that were
announced at the Capital Markets Day on 18 November 2023,  including
execution of the restructuring programme and is building strong momentum on
Grid Flex revenues.  More details on progress of the Powering Up plan will be
provided at the full year results.

 

Andy Palmer, Chief Executive of Pod Point, said:

 

"I am pleased that Pod Point has delivered an improved performance in the
second half of 2023.  We laid out our new strategy, Powering Up, in November
2023 and have made good progress against our key initiatives.  Our balance
sheet is robust and we go into 2024 excited about our future opportunities."

 

Enquiries:

 Pod Point Plc

 Andy Palmer, Chief Executive Officer

 David Wolffe, Chief Financial Officer

 Phil Clark, Investor Relations                 phil.clark@pod-point.com

 Numis (Joint Corporate Broker)                 +44 (0)20 7260 1000

 Andrew Coates

 BofA Securities (Joint Corporate Broker)       +44 (0)20 7628 1000

 Marcus Jackson

 Teneo (Media)                                  +44 (0)20 7353 4200 PodPoint@teneo.com (mailto:PodPoint@teneo.com)

 Matt Low / Arthur Rogers

 

 

 

 

 
 

 

 
 

 

 

About Pod Point Group Holdings plc

Pod Point was founded in 2009. Driven by a belief that driving shouldn't cost
the earth, Pod Point is building the infrastructure needed to enable the mass
adoption of electric vehicles and to make living with an EV easy and
affordable for everyone. As at 31 December 2023 the company has shipped more
than 226k charge points on its network in the UK and is an official charge
point supplier for major car brands.

Pod Point works with a broad range of organisations and customers to offer
home and commercial charging solutions.

Pod Point is admitted to trading on the London Stock Exchange under the ticker
symbol "PODP."

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