Pod Point Share Discussion Threads

[purple11] 20/2/2024 12:09

im in for a few.gla

[boysie72] 20/2/2024 09:04

This now looks like a great turn around story, recent shift in focus that is paying off, many new contracts in 2023, cash in the bank and CEO who will hit the ground running. No doubt disclosed the approach she would take the company with the current board and they are implementing it prior to her official joining. Definitely a buy and hold for me during 2024. Good luck holders.

[apotheki] 20/2/2024 07:50

Any thoughts Babbler [and others] to todays trading update plus director changes?

On the face of it all looks positive to me!

[apotheki] 20/2/2024 07:45

LOL Babbler!

[apotheki] 20/2/2024 07:45

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."

[apotheki] 20/2/2024 07:44

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."

[babbler] 20/2/2024 07:44

Don't forget the nice trading update too...

[apotheki] 20/2/2024 07:42

CEO Appointment & Directorate Change

Pod Point, a leading provider of electric vehicle ('EV') charging solutions in the UK, today announces the appointment of Melanie Lane as Chief Executive Officer ("CEO") with effect from 1 May 2024. She will succeed Andy Palmer, who has acted as Interim CEO since 6 July 2023 during the course of the executive search and appointment processes.

Melanie joins the Group from Shell Recharge Solutions ("Recharge"), having led the standalone unit following its acquisition by Shell in 2017 to become a prominent e-mobility solutions provider across key EU markets. Prior to her time running Recharge, Melanie led extensive and successful turnaround programmes for Shell's Aviation and Retail units, which delivered significant operational improvements, resulting in strengthened competitive positions and profitability.

Following Melanie's appointment as CEO on 1 May, Andy will step down from the executive leadership team and return to the Board as Chair Designate, before taking on the role of Non-Executive Chair post Pod Point's Annual General Meeting on 5 June. At this time, Gareth Davis will step down as Chair and remain on the Board as an Independent Non-Executive Director, whilst Interim Senior Independent Director Karen Myers will become the permanent Senior Independent Director. EDF Group, Pod Point's largest shareholder, has given its full support for these appointments.

Gareth Davis, Chair, commented:

"We are delighted to announce Melanie's appointment as CEO. With her extensive experience in the EV charging sector and the wider energy industry, she has the skills and ideas Pod Point needs to continue its journey to enable travel that doesn't cost the Earth. Melanie has a strong track record of building up successful businesses in a highly competitive space and we believe she will bring this same skillset to Pod Point as it looks to expand in the UK and abroad.

We are very thankful to Andy for his time as Interim CEO and look forward to welcoming him back to the Board as Chair Designate. His expertise in both Pod Point and the wider automotive sector will continue to be a major asset to the business in his new role."

Melanie Lane, CEO designate, commented:

"I am very pleased to be appointed CEO of Pod Point and am looking forward to taking on this new opportunity. Pod Point is a leading player in UK EV charging with a strong brand, high customer trust, extensive partnerships and fantastic people.

The business has an outstanding opportunity to build on the pillars of the recently announced Powering Up strategy with a renewed focus on home and workplace charging, driving recurring revenue through Energy Flex and growing internationally.

I look forward to working with David Wolffe, the executive team and everyone in the business to guide Pod Point through this exciting time in its evolution and growing its position as a key enabler of the energy transition."

About Melanie Lane

Melanie has led a long and successful career at Shell, having worked in various business units and developed key skills across a range of subsectors and customer bases.

Melanie's most recent position was as CEO of Shell Recharge Solutions, known as NewMotion at the time of her appointment in 2020. During her time at the company, Mel oversaw a step change growth in Recharge's customer base and top line revenues, diversified the portfolio of products and scaled operational capability and increased annual installations from 16,000 to 50,000, amassing a network 500,000 connected chargers.

Outside of EV charging, Melanie has a track record of delivering operational improvements and turning around underperforming businesses. During her time leading both the Aviation business in Europe and the Retail business in the UK, she delivered significant turnarounds and double-digit growth in profitability through new strategic direction, overhauling operations and sharpening customer focus.

Career:

2020: CEO, Shell Recharge Solutions, Europe

2016-2020: Global Director, Growth and Innovation: Aviation

2012-2016: European Director, Growth and Innovation: Aviation

2009-2012: Director, UK Retail

2008-2009: General Manager, Marketing Europe

2006-2008, Global Innovation Manager, Fuels Retail



There is no further information required to be disclosed pursuant to LR 9.6.13R.



Andy Palmer and Gareth Davis

Andy's appointment as Non-Executive Chair has the full support of Gareth, the rest of the Board and its majority shareholders. The Board is mindful of the Corporate Governance Code provision that a CEO should only exceptionally become chair, but is satisfied that Andy's appointment is appropriate and that he can be considered independent on appointment. Having served on the Board of Pod Point as Senior Independent Director since IPO, Andy agreed to act as interim CEO in July 2023, while a permanent CEO was recruited. Andy is one of the automotive industry's most experienced executives, whose previous roles include Chief Operating Officer of Nissan and CEO of Aston Martin Lagonda, and this experience is invaluable to Pod Point.

The Board is satisfied that Gareth does not meet any of the factors in provision 10 of the UK Corporate Governance Code that would prevent him being an Independent Non-Executive Director. The company will count his tenure as Chair in assessing the period for which he has served on the Board.

[soho2] 09/2/2024 10:09

Don't jinx it... will prob end the day in RED :(

[davemac3] 09/2/2024 09:42

Blimey, an up day

[marky60] 08/2/2024 17:34

Consultants are brought in so that management can blame them if things go wrong.

[bookbroker] 08/2/2024 13:43

Only possibility is Barrett/Redrow tie-up will be good for Pod Point domestic installations.

[marky60] 07/2/2024 16:44

Loads spent on consultants.

[trader465] 07/2/2024 15:18

Perhaps because the cash will soon be exhausted, then it will not be valued at less than cash

[bookbroker] 07/2/2024 15:15

Not sure why this not receiving an offer from rival, now valued at way less than cash!

[bookbroker] 06/2/2024 21:31

Opinion only strengthened by meeting someone at JCT. who was leading salesman for them at AM. dealership, ,, tried to argue for Palmer but no, he said he screwed the company!

[anthonyspencer1] 06/2/2024 21:08

Bookbroker you should marry palmer, I can feel the true love you have for him.

[davemac3] 06/2/2024 10:19

I reckon folks who got stung at the IPO price of 225p just over 2 years ago must be miffed. These companies know how to time their IPOs. Does the price ever go up?

[owenski] 26/1/2024 15:49

Awful business model, looked at this some time ago and concluded it was a bargepole.

[bookbroker] 26/1/2024 15:17

Yeah, on account of Palmer’s record of destroying shareholder value, the bloke is a loser.

[blueball] 07/1/2024 19:52

One to keep an eye on..?