EDF Energy Acquires Pod Point for £10m, Valuing EV Charging Company at £10.6m

EDF Energy has acquired Pod Point, a UK-based electric vehicle charging company, for £10.6m. The deal represents a 24% premium to Pod Point's closing price on April 23. EDF holds approximately 53% of Pod Point's share capital and believes full ownership will provide stability and enable continued investment in charging technology and customer service.

EDF Energy has successfully acquired Pod Point, a UK-based electric vehicle (EV) charging company, for £10.6 million. The deal, which represents a 24% premium to Pod Point's closing price on April 23, was finalized on June 12, 2025. EDF, which currently holds approximately 53% of Pod Point's share capital, aims to provide stability and enable continued investment in charging technology and customer service with full ownership.

Pod Point, which operates thousands of EV charging points across the country, including many located in Tesco store car parks, has experienced financial challenges. The company reported a pretax loss of £84.5 million in 2024, a marginal increase from £83.2 million in 2023. Revenue fell by 17% to £52.9 million, largely due to weaker car sales. The adjusted loss before interest, taxes, depreciation, and amortization (EBITDA) widened by £20.7 million to £15.3 million, including a £4.4 million bad debt charge [1].

EDF's acquisition of the remaining shares, at a price of 6.5 pence per share in cash, values Pod Point at approximately £10.6 million. The offer was first announced in April and has been subject to several extensions to allow Pod Point to finalize its audited financial results. The latest deadline was extended to June 12, 2025, with the company remaining in an 'offer period' as per the rules of the Takeover Code [3].

The acquisition will have significant implications for Pod Point's ownership structure and its operations in the EV infrastructure sector. EDF's majority stake in Pod Point was initially acquired through a joint venture with Legal & General Capital in 2020 [2]. The acquisition of the remaining shares will provide EDF with full control, allowing it to drive strategic initiatives and investments in the EV charging market.

References:

[1] https://www.marketwatch.com/story/pod-point-recommends-edf-offer-to-shareholders-earnings-fall-c29fcb7c
[2] https://news.sky.com/story/pod-point-fails-to-spark-as-edf-seals-cut-price-takeover-13382131
[3] https://ng.investing.com/news/company-news/pod-point-deadline-for-edf-takeover-bid-extended-to-june-12-93CH-1957620