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EDF to Acquire Pod Point for £10.6 Million Following Steep Value Decline

Pod Point’s board says the 6.5p-per-share cash offer provides the only viable path to long-term stability after uncovering £4.4 million in bad debts

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Overview

  • The French energy giant already held a 53% stake in Pod Point before launching the offer for the remaining shares.
  • Pod Point issued a profit warning in January and suspended its shares in April after uncovering £4.4 million in bad debts dating from 2020 to 2024.
  • Its revenue fell 17% to £52.9 million in 2024 while adjusted losses before interest, tax, depreciation and amortisation widened to £20.7 million.
  • The company operates over 250,000 charging points across the UK and has expanded partnerships with retailers and carmakers such as Tesco and Jaguar Land Rover.
  • Rising interest rates and a government decision to delay the petrol and diesel car ban have dampened consumer demand for electric vehicles.