UK's Pinewood H1 revenue jumps on new customers, Seez integration

By Reuters News


Overview

  • UK automotive software firm's H1 revenue rose 18.4% on new customers and Seez integration

  • Underlying profit before tax fell 13.6% as admin costs and North American investment rose


Outlook

  • Pinewood expects FY26 underlying EBITDA to be £21m, in line with previous company guidance

  • Company reaffirms FY28 underlying EBITDA guidance of £62m


Result Drivers

  • NEW CUSTOMERS AND CROSS-SELL - Co said H1 revenue growth was driven by new customer acquisitions and cross-selling to existing clients

  • SEEZ INTEGRATION - Integration of Seez AI products contributed to revenue growth and impacted gross margin

  • NORTH AMERICAN INVESTMENT - Increased investment in North American roll-out raised admin expenses and reduced underlying profit


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Underlying Revenue

GBP 23.2 mln

H1 Underlying Gross Profit

GBP 19.8 mln


Analyst Coverage

  • The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 25 three months ago


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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