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Pod Point Group Holdings PLC ( (GB:PODP) ) just unveiled an update.
Pod Point Group Holdings PLC reported a challenging financial year for 2024, with an adjusted EBITDA loss aligned with guidance at approximately £14 million. Despite improvements in operating margins due to cost-saving initiatives and better-than-expected high-margin Energy Flex revenues, the company faced lower-than-expected revenues of around £53 million, mainly due to weaknesses in the private new car segment of the EV market. The net cash position fell short of expectations due to a shift in business mix and the implementation of a new ERP system. The company successfully delivered on most operational KPIs, including product launches and strategic exits from non-core segments, and aims to transform its consumer offering to focus on recurring revenues, although it anticipates 2025 results to fall below market expectations due to ongoing sector uncertainties.
More about Pod Point Group Holdings PLC
Pod Point Group Holdings PLC, founded in 2009, is a leading provider of electric vehicle (EV) charging solutions in the UK. The company focuses on building infrastructure to support the mass adoption of EVs, offering home and commercial charging solutions. As of June 2024, Pod Point has an installed base of 250,000 communicating charge points and is an official charge point supplier for major car brands. The company is listed on the London Stock Exchange under the ticker symbol ‘PODP’.
YTD Price Performance: 30.66%
Average Trading Volume: 378,385
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £26.18M
See more insights into PODP stock on TipRanks’ Stock Analysis page.
