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)
Andrew Coates
|
+44 (0)20 7260 1000
|
|
BofA Securities (Joint Corporate
Broker)
Marcus
Jackson
|
+44 (0)20 7628 1000
|
|
Teneo (Media)
Matt Low / Arthur Rogers
|
+44 (0)20 7353 4200
PodPoint@teneo.com
|
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."