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Highlights
- Pod Point Group provides electric vehicle (EV) charging solutions under four segments, namely Home, Commercial, Owned assets and Recurring.
- For FY22, the firm posted GBP 71.4 million revenue, with a 16% growth on pcp.
- PODP recorded a jump of ~108% in the sales from the Owned Asset segment during FY22.
FTSE All-share Index listed Pod Point Group Holdings PLC (LSE:PODP), a United Kingdom-based company, provides electric vehicle (EV) charging solutions under four segments, namely Home, Commercial, Owned assets and Recurring.
Key performance indicators
For the full fiscal year 2022, Pod Point posted a 16% growth in the revenue. It was registered at GBP 71.4 million in FY22, against the revenue of GBP 61.4 million in FY21. There was a marginal improvement of 3% in the sales from the home segment, while revenue from its commercial division went up by 31%. The company recorded a jump of over 108% in the sales from the Owned Asset segment during the reporting period.
There has been a 43% surge in the number of home units installed and able to communicate during the reported period. It was totaled at ~173,700 units in FY22 versus ~121,400 units in FY21. The total commercial units installed and able to communicate increased by 33% to ~21,300 units in FY22 as compared to ~16,000 units in FY21.
What’s next?
Going forth, the company expects growth in the demand for electronic vehicles in the United Kingdom. This is backed by the 19% rise in the new plug-in vehicle registrations over the past one year. Also, the UK government’s target for prohibiting sales of non-EVs by 2023 could also act as a catalyst.
Pod Point has revised the revenue guidance for the full year to be around GBP 60 million, while the cash position is expected to be between GBP 40 million and GBP 45 million for FY23.
Top 10 shareholders
The top ten shareholders of the company together constitute around 89.73% of its total shareholdings. While EDF Energy Customers Ltd. owns approximately 53.79% stake in the firm, Legal & General Investment Management Ltd. holds over 14.6% shares in Pod Point.
Stock Price Performance
The company’s stock price has dropped by around 62.46% in the last three months, while it has declined by more than 50.32% over the last six months. The stock has a 52-week high and 52-week low price at GBX 116.00 and GBX 29.00.
Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 09 August 2023. The reference data in this report has been partly sourced from EODHD/Others.
