Pod Point Group Holdings PLC Updated 2023 Guidance (4677H)
27 Julho 2023 - 12:11PM
UK Regulatory
TIDMPODP
RNS Number : 4677H
Pod Point Group Holdings PLC
27 July 2023
27 July 2023
Pod Point Group Holdings PLC
("Pod Point" or "the Group")
Updated 2023 guidance
Following the appointment of Andy Palmer as interim CEO on 6
July 2023, a detailed review of the Group's operations is being
undertaken. While this work is ongoing, it has become clear that
the outcome for the financial year ending 31 December 2023 will be
materially different from the current guidance, with lower revenue
and a larger adjusted EBITDA loss.
The market has remained volatile and uncertain, with particular
weakness in the private BEV market. The Group has seen shortcomings
in product offer, and delays in product and app launches that have
impacted revenues. Some of our sales channels are also seeing
slower conversion to revenue. These themes are expected to impact
our performance in the second half.
Consequently, the Group is updating revenue guidance for 2023 to
at least GBP60m. Adjusted EBITDA loss for 2023 is now expected to
be no greater than GBP17m. The updated guidance includes the impact
of lower revenues, and an expected GBP5m of costs related to
transformation plan initiatives and growth investments identified
as part of the ongoing strategy review and non-cash charges.
Our balance sheet remains in a strong position with net cash as
at 30 June 2023 of GBP58.8m.
Alongside our interim results to be released on 31 July, we will
provide further details on our transformation plan to improve
operational and financial performance, the actions required to
urgently address priorities and how Pod Point is positioning itself
for long term growth.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014.
The person responsible for arranging the release of this
announcement on behalf of Pod Point is Anita Guernari, Company
Secretary.
Enquiries:
Pod Point Plc
Andy Palmer, interim Chief Executive Officer
David Wolffe, Chief Financial Officer
Phil Clark, Investor Relations phil.clark@pod-point.com
Numis (Joint Corporate Broker)
Jonathan Wilcox / Andrew Coates +44 (0)20 7260 1000
BofA Securities (Joint Corporate Broker)
Marcus Jackson / Mitchell Evans +44 (0)20 7628 1000
Media
Mark Burgess / Matt Low / Arthur Rogers (Teneo) +44 (0)20 7353 4200 PodPoint@teneo.com
About Pod Point Group Holdings plc
Pod Point was founded in 2009 by entrepreneur Erik Fairbairn.
Driven by a belief that travel shouldn't damage the earth, Pod
Point has over 210k smart communicating charge points on its
network and is an official charge point supplier for major car
brands.
Pod Point installs a broad range of products from smart domestic
charge points to high power rapid chargers and load balancing
systems. Pod Point works with a broad range of organisations and
customers to offer home and commercial charging solutions with
customers including major retailers, hotels, restaurants and
leisure venues.
Pod Point is admitted to trading on the London Stock Exchange
under the ticker symbol "PODP."
For more information, visit https://pod-point.com/
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END
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July 27, 2023 11:11 ET (15:11 GMT)
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