Pod Point: EDF Considers Complete Acquisition Amid Financial Struggles
Deal News | Apr 24, 2025 | Business Cloud
EDF Energy, which currently owns 53% of the shares in Pod Point Group Holdings PLC, is considering an offer to acquire the entire share capital of the company. Pod Point, an electric vehicle charging firm, has been facing financial challenges, with its share price dropping significantly from a peak of 275p post-IPO in 2021 to a current price of 6p, resulting in a market cap of approximately £9.4 million. The company's adjusted EBITDA loss, initially expected at £14 million, has escalated to £22 million due to uncovered bad debts from 2020 to 2024. EDF has completed its preliminary due diligence and requires limited confirmatory diligence. If the offer moves forward, Pod Point anticipates an impact on its FY24 results and expects its shares to be suspended from trading starting May 1, 2025, pending the audit's completion and the publication of its FY24 results.
Sectors
- Energy
- Automotive/Transport
- Technology
Geography
- United Kingdom – Pod Point Group Holdings PLC is listed in the UK, and EDF's offer and related activities are taking place within the UK market context.
Industry
- Energy – EDF Energy is a major player in the energy industry and is currently considering acquiring Pod Point, a company in the electric vehicle charging segment.
- Automotive/Transport – Pod Point operates in the electric vehicle charging space, which is integral to the automotive and transport industries.
- Technology – Pod Point is involved in the EnviroTech sector, addressing technological aspects of environmental solutions in electric vehicle charging.
Financials
- 6.5p per share – The potential offer price per share that EDF Energy plans to make for Pod Point's entire share capital.
- 9.4 million – The current market capitalization of Pod Point Group Holdings PLC at a share price of 6p.
- 14 million – The initially expected adjusted EBITDA loss for Pod Point.
- 22 million – The revised adjusted EBITDA loss for Pod Point after uncovering additional bad debts.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pod Point Group Holdings PLC | Target Company | Company | A listed electric vehicle charging company facing financial difficulties. |
| EDF Energy | Bidding Company | Company | An energy giant looking to acquire full ownership of Pod Point Group Holdings PLC. |