Pod Point Group (PODP) Trading Update summary

Financial performance and guidance

• Adjusted EBITDA loss for FY2024 will be approximately £8m below market guidance, mainly due to a bad debt provision for uncollectible debtor balances from 2020 to 2024.

• Additional non-cash items identified during the audit process have further impacted adjusted EBITDA.

• Net cash position remains unchanged at £5.3 million as of 31 December 2024.

Operational updates

• Debtor collection process has normalized following increased recruitment in the credit collection team.

• Progress has been made on collections since the start of the year, addressing previously higher-than-expected debtor levels in Q4 2024.

Company overview

• Pod Point operates over 250,000 charge points in the UK and is an official supplier for major car brands.

• The company provides home and commercial EV charging solutions and is listed on the London Stock Exchange under the ticker PODP.