Pod Point laments weak private plug-in vehicle demand as loss widens

(Alliance News) - Pod Point Group Holdings PLC on Thursday said it was making strong progress ...

Alliance News 18 April, 2024 | 10:21AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Pod Point Group Holdings PLC on Thursday said it was making strong progress despite a weak private plug-in vehicle demand.

The London-based electric vehicle charging infrastructure provider said pretax loss widened to GBP83.2 million in 2023 from GBP19.9 million in 2022.

Revenue declined 11% to GBP63.8 million from GBP71.4 million.

Looking ahead, Pod Point said it continues to expect revenue of about GBP60 million for 2024, around 5.9% lower than in 2023. Further, it expects an adjusted loss before interest, tax, depreciation and amortisation of around GBP14 million, narrowing by around 8.3% from GBP15.3 million in 2023.

"The group has made a good start to the year, despite private plug-in vehicle demand remaining weak," the company said, noting it was making progress against all of its operational targets.

Pod Point shares were 0.2% lower at 22.80 pence each on Thursday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Pod Point Group Holdings PLC 24.00 GBX 1.80 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures