Pod Point Share Discussion Threads

[hedgehog 100] 27/7/2023 16:46

27/07/2023 16:11 UK Regulatory (RNS & others) Pod Point Group Holdings PLC Updated 2023 Guidance LSE:PODP Pod Point Group Holdings Plc

"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. ..."




PODP's 2022 figures: revenue £71.4M., EBITDA loss £12.2M, pre-tax loss £19.9M., year end cash £74.1M.

So £15.3M. of cash has been burnt in H1 2023: a cash burn rate which would consume the remaining cash in under two years.

Very disappointing how this has worked out, when it had so much potential.

[elrico] 27/7/2023 16:39

Very naughty timing.

[soho2] 27/7/2023 16:33

You could not make this up...

[soho2] 25/7/2023 11:22

Getting better by the day here ...

[bookbroker] 20/7/2023 20:36

Point taken, for this company it is about existing relationships, reputation and traction. All things this company has, along with a strong balance sheet, and support from EDF as a shareholder.

[bookbroker] 20/7/2023 17:01

That BoA. note looks ridiculous now!

[warrenbuffet73] 19/7/2023 10:05

Builders up again and



Car manufacturers backing EV in a big way

[teaboy100] 18/7/2023 17:48

Yes very disappointing. Nearly back to the low point.

[bookbroker] 18/7/2023 16:25

What the hell is going on here, constant falls in a market that, albeit challenging, is growing. Important fact is that this company is expected to still have £50 million in cash at year end. That is it has not been frittered on paying technicians to sit around doing nothing. Fairbairn has done little to move the needle here since flotation, and if standard charging is being monopolized by the Tesla chargers, then a new direction is required. Palmer may address, responses please post?

[bookbroker] 06/7/2023 08:52

Frankly, I think Fairbairn was a lightweight. Sure he started this company, but he has been at the top too long. They have a well-known name and product, and that needs to be capitalized upon, otherwise the advantage is lost. The company has strong backing in EDF, and cash on its balance sheet, so that enables investment, but needs to be in the right place.

[bookbroker] 06/7/2023 07:51

Should be as positive that Andy palmer has assumed control, is a highly respected, big hitter in the motor world, and has proven leadership qualities.

[bookbroker] 06/7/2023 07:34

I think that was mentioned before, but you have to look at the vehicle registration figures, battery electric up 30% on last year. However that did catch my eye!

[soho2] 06/7/2023 07:30

Challenging market conditions ?? I don't like this bit...

[trader465] 30/6/2023 11:39

Bought a starter position here on the back of recent contract wins, will add if it starts rising or cut if it falls to 65p

[soho2] 30/6/2023 10:04

And another nice contract announced this morning. I wished they used the 07:00 announcements to allow investors to digest the news 1st tho.

[davemac3] 28/6/2023 09:06

Nice contract, UK’s largest house builder, built over 17000 houses last year, would be good to know what share PodP have.

[j arthur rank] 02/6/2023 13:29

Check out Trust Pilot

[bookbroker] 15/5/2023 22:09

Irritating drop off here, BOA. note well and truly forgotten, I hope that EV. sales holding up, but I imagine there has been a slight tapering there.

[bookbroker] 02/5/2023 10:36

Anyone’s guess, but all about traction.