https://youtu.be/Zk11vI-7czE?si=1jI7FzSYXQ_1wtZ4 |
https://youtu.be/K8Nz-4eEBTw?si=wzQvxaDBrwy-EOu2This is worth watching. Tells you all you need to know about the EV market. |
I bought my EV three years ago and it's worth a fraction of what I paid for it. No chance of me buying another.Meanwhile the Labour Party are still sticking to their 2030 deadline. Don't they know there aren't enough mines in the world to produce the rare earth metals needed to make all these vehicles. |
The UK as a nation is unimpressed - road tax comes in on EVs, and added to that a £400 levy on EVs over £40k. Added to that EVs are expensive. Oh and the inventives were withdrawn in 2022.Then there is infrastructure; you live in a flat or a terraced street, no chance. Maybe if you buy a new house, but then there is the macro; interedt rates are heavy, borrowing is expensive.Personally I like pod point and think they will weather the storm - also an average of 24p, so like is tempered by no choice. However, I like the share price and it makes sense given the macro. I also suspect it can get even cheaper if growth continues to trudge and worse, if we are drawn into a recession by the gov. and/or the BoE.Nonetheless, today Rachel Reeves speaks (uh oh) about actual growth. |
The market is unimpressed ? |
all well and good, but when are they going to make money for shareholders? |
 New Energy Flex market entered
Pod Point first to sell in wholesale energy market under new P415 regulations
Pod Point, a leading provider of Electric Vehicle ('EV') charging solutions in the UK, is pleased to announce that it has entered a new energy flex market and is the first company to sell energy in wholesale markets under the new P415 regulation. The P415 regulation allows companies who are not energy suppliers to sell wholesale energy as a Virtual Trading Party ("VTP").
Entry into new Energy Flex market - Wholesale market
Pod Point has now entered the Wholesale market in the UK ahead of schedule. Entry into the Wholesale market provides Pod Point with access to the largest segment of the flex market.
This demonstrates further rapid progress in line with the strategy to enter all the major Energy Flex markets, with the Group already operating business-as-usual Energy Flex in the Distribution System Operator and Capacity Markets.
On 23rd December 2024, Pod Point became the first company to sell energy on wholesale electricity markets under P415, generating revenue for the Group. Pod Point is working with a VTP, providing the Group with another incremental high margin revenue stream to support its customer lifetime value model by rewarding customers for smart charging their car.
Largest UK chargepoint network
Pod Point recently announced that it has more than 250,000 EV chargers - the largest estate for demand flexibility in the UK - which provides a substantial "back book" of customers who can be offered rewards for smart charging.
Demand flexibility: win-win-win for customer, the Grid and Pod Point
Wholesale electricity prices rise during high demand, such as at 6pm on a windless evening, and fall when there's excess supply, say at 2am on a windy night. EV chargers can help stabilize the grid by pausing charging during peaks and shifting to greener, off-peak times. This flexibility supports Net Zero by enabling more renewable energy; it helps grid partners reduce costs and avoid capex; and Pod Point to create high value recurring revenues.
Melaine Lane, Chief Executive Officer, said:
"Our entry into the Wholesale market represents another important milestone in Pod Point's Energy Flex strategy and creates further momentum in building recurring revenues for the Group. It's another example of Pod Point taking the lead in Energy Flex as the first company to take advantage of this new regulation. We have the largest Energy Flex enabled chargepoint network in the UK, with over a quarter of a million chargers, providing significant scale and relevance to the Grid. Pod Point has delivered a huge amount of progress in Energy Flex over the last 12 months, and we have further exciting plans for this emerging market in the next 12 months."
About P415
hxxps://www.elexon.co.uk/mod-proposal/p415/ |
Now then now then.
Keep taking the tablets and feel better soon dearie. |
A growth company - they need to spend to grow. If you don't believe in the energy transition you sell or don't buy. If you do go for it !. Buy a few with money you can afford to lose, and tuck them away.
No advice intended. |
2*
Pod Point Group Holdings PLC, a leading provider of Electric Vehicle charging solutions in the UK, issued a soft pre-close trading update for the 12 months to 31 December 2024. Ongoing weakness in the private new car segment of the EV market, continues to affect trading, resulting in lower-than-expected revenues of c.£53m, against guidance of c.£60m. Adjusted EBITDA loss is still expected to be in line with guidance of around £14m...from WealthOracle
wealthoracle.co.uk/detailed-result-full/PODP/1159 |
EBITDA loss as expected on lower revenues. That's disappointing but I get the market is still weaker than expected so maybe a little over ambitious on the predictions. The cash position is interesting. Where has the money been spent? They say there has been an expansion in working capital but have not explained why. Have they purchased stock in anticipation of the accelerating roll out in Spain and France? Commercial market. This has changed their debtor book, I guess they have given terms to these customers but not invoiced in FY24. So is this revenue to be booked in early 25? EDF comfortable letting them run into the credit facility. Surely a sign of confidence? I thought it was turning with the recent run up. It would be slightly embarrassing to have to raise more cash. |
EV charging companies are financially unviable. This company will never make a profit and needs a fundraiser now. The taxpayer will end up footing the bill for EVAnd the governments net zero targets. |
Edf owned by French government? |
Out at a loss "again" here, perhaps I'll catch it right next time |
Decent IMHO |
Melanie Lane, Chief Executive Officer, said:
"Pod Point had a remarkable 2024, despite the utterly difficult market backdrop—so difficult, in fact, that we managed to achieve… well, not much. As predicted, 2024 was a "transitional year" for our finances, which is a polite way of saying we didn’t make much money. We’ve been “working on our costs,” which, in simpler terms, means we’ve been cutting things that weren’t doing too hot—like, you know, revenues.
Our best friend in all of this? EDF. They've been so “supportive221; that it’s almost like a pity party, giving us the resources and expertise to keep trying with our Energy Flex business. Oh, and we’re also still exploring international market opportunities—just, you know, in case something actually comes up.
Kudos to the team for executing our grand plan and delivering on our KPIs, even though those KPIs were more of a suggestion than a target. And don’t forget the massive internal reorganization we did—because nothing says "we’re on track" like completely shaking things up. But hey, we’re feeling good about the momentum we’ve built in Energy Flex. We’ll just keep riding that wave straight into 2025, hoping it’s not a tsunami of disappointment." |
Melanie Lane, Chief Executive Officer, said:
"Pod Point has achieved a lot in 2024 against a difficult market backdrop. As expected, 2024 has proven to be a transitional year in terms of our financial performance. We made good progress on our costs, but the weaker-than-expected private EV market has negatively impacted revenues.
EDF remains a very supportive shareholder for us. They have provided resources and expertise to drive our Energy Flex business and we continue to explore international market opportunities with them.
I'm really pleased with how the team has executed our plan and delivered against our KPIs, especially given significant internal reorganisation to set the business for long-term success. I'm particularly impressed with the momentum the Group has built in our Energy Flex business. We are taking this momentum into 2025." |
Crikey nothing less than bargepole. 5p open?CEO states they have achieved a lot in 2024. Yes, its called shareholder destruction |
The cash keeps on dwindling away, looks like the turnaround is failing. This has been a disaster for original investors.
Adjusted EBITDA loss is expected to be in line with guidance of around £14m
lower-than-expected revenues of c.£53m, against guidance of c.£60m
At 31 December 2024, net cash was £5.3m, below guidance of around £15m
In light of the continued challenging backdrop, the Group expects 2025 results to be below current market expectations. |
Thanks Indiestu,
Reading your post last month was the nudge I needed to buy my big £800 worth. Podp & rcdo could be a nice doubler for the future.
Cheers and good luck. |
Hi ten. Great to see you here. |
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