Pod Point 2023 Performance Update

Pod Point Group Holdings is pleased to announce that its performance for 2023 is expected to be in line with guidance, with net cash ahead of expectations. The company has appointed Melanie Lane as the new chief executive, effective May.

Financial Outlook

The electric-vehicle charging company anticipates revenue for 2023 to be at least £63 million ($79.3 million). Additionally, the adjusted loss before interest, taxes, depreciation, and amortization is projected to be no greater than GBP16 million. This metric excludes exceptional and one-off items.

Robust Balance Sheet

As of December 31, the company's net cash position was GBP48.7 million, slightly surpassing the guidance of at least GBP47 million. Andy Palmer, the current Chief Executive, expressed confidence in the company's financial stability, stating, "Our balance sheet is robust, and we go into 2024 excited about our future opportunities."

Leadership Transition

Melanie Lane has been appointed as the new CEO, effective from May 1, succeeding interim CEO Andy Palmer. Palmer will transition to the role of nonexecutive chair on June 5. Lane brings a wealth of experience from Shell Recharge Solutions and has led successful turnaround programs for Shell's aviation and retail units.

For more information on Pod Point Group Holdings' latest developments, stay tuned for updates.