Pinewood Technologies Group Plc · LSE:PINE
Pinewood Technologies — H1 FY25 Earnings Presentation
26 slides from Pinewood Technologies's earnings presentation, Sep 24, 2025
Slide 1: H1 FY25 Results
Pinewood Technologies Group PLC H1 FY25 Results 24th September 2025 Strong H1 Performance, Strategic Milestones Achieved and new FY28 Guidance
Slide 2: Agenda
Agenda 1. Introduction & Overview Bill Berman 2. Financial Review & Updated Guidance Ollie Mann 3. Operating Highlights & Strategic Priorities Bill Berman 4. Summary & Outlook Bill Berman Bill Berman Ollie Mann CEO CFO 2
Slide 3: Introduction & Overview
Introduction & Overview
Slide 4: Positive Financial Performance & Strong Strategic Progress in H1 FY25
Positive Financial Performance & Strong Strategic Progress in H1 FY25 Growing sales with new and existing customers, supported by enhanced product suite and new user experience Acquisition of Seez, funded by an oversubscribed equity placing Full ownership of North America JV, supporting growth
Slide 5: Financial Review
Financial Review
Slide 6: Financial Highlights – H1 FY25
Financial Highlights – H1 FY25 (6m ended Jun-25) Revenue Gross profit Underlying EBITDA £19.6m £17.0m £7.9m +21.7% +17.2% +14.5% H1 FY24: £16.1m H1 FY24 : £14.5m H1 FY24 : £6.9m Recurring revenue Net customer churn Underlying EBITDA margin 85.7% 0.3% 40.3% -3.1% -0.4% -2.6% H1 FY24 : 88.8% H1 FY24 :
Slide 7: Strategic Fundraise and Cash Generation Enable Transformational Seez Acquisition
Strategic Fundraise and Cash Generation Enable Transformational Seez Acquisition and Strengthen Financial Position £m H1FY25 H1FY24 FY24 Prof it f or the period (0.7) 5.0 5.7 Adjustment f or tax 0.7 2.0 2.5 Share of associate result (US JV) 1 1.3 0.3 0.5 Adjustment f or net f inancing expense (0.3)
Slide 8: Enhanced Financial Position Underpins Pinewood's Growth Ambitions
Enhanced Financial Position Underpins Pinewood’s Growth Ambitions £m Jun-25 Jul-24 Dec-24 1• Movement in shareholders funds driven by £34m Property, plant & equipment 2.2 1.8 1.7 equity raise in March 2025 Goodwill 2 31.0 0.3 0.3 Investment in associate 7.5 9.7 9.6 2• Increase in goodwill relates to
Slide 9: Non-underlying Items
Non-underlying Items £m HY25 HY24 Within operating expenses: 1 Transaction costs re equity raise and Seez acquisition (1.0) - Restructuring and transition costs (0.7) (0.3) Share based payments (1.4) - 1• Transaction costs relating to Q1 2025 Transaction costs re Lithia transaction - (0.7) equity ra
Slide 10: Updated Guidance
Updated Guidance Following the buyout of Lithia’s stake in the North American JV, there is expected to be a short-term accounting impact in H2 FY25 of approximately £1.3m, relating to income previously recognised on development work undertaken for the JV In agreement with Marshall, the start of
Slide 11: Operating Highlights & Strategy
Operating Highlights & Strategy
Slide 12: Progress on Strategy
Progress on Strategy UK & Ireland International Products / Vertical Sales North America Lookers implementation Japan: contracts signed with Seez acquisition has Completed buyout of Lithia’s started in July 2025 Volkswagen and Porsche significantly accelerated 51% stake in JV Scandinavia: add
Slide 13: Positive Start to Seez Integration
Positive Start to Seez Integration Seez-Pinewood joint solutions already built: Joint solutions already built and Seez-Pinewood Service Booking AI Seez AI integration with Pinewood’s data stack underway integration will continue and accelerate in H2 2025 onwards Dealer Co-pilot Layering Seez’s marke
Slide 14: UK System Implementations Progressing Well
UK System Implementations Progressing Well Lookers implementation off to a strong start with the first implementations in July 2025 Lithia UK are seeing the benefits of having all their dealers on the Pinewood platform through improved productivity and increased efficiencies Marshall implement
Slide 15: Well Positioned to take a Significant Share of US Market
Well Positioned to take a Significant Share of US Market Agreement to buy out Lithia of it’s 51% stake in the North American JV for $76.5m $60m contract signed with Lithia to install Pinewood platform in all their c.320 North American dealers Rollout of Seez chatbots into Lithia’s North Americ
Slide 16: North American Pilot on Track for Q4 2025
North American Pilot on Track for Q4 2025 Engagement with majority of OEMs with integration work underway Product team continuing to enhance system for US customer specific needs On track for pilot in two Lithia US stores in Q4 FY25, with the wider roll-out to Lithia US stores starting in mid
Slide 17: Progress in Key Growth Markets
Progress in Key Growth Markets Contract signed with Porsche Japan in September 2025 that covers all Porsche Centres in Japan Pilot stores in Q4 2025 with full rollout in H1 2026 Ongoing discussions with a number of European customers, primarily in Central Europe Well-positioned in Southern A
Slide 18: Summary & Outlook
Summary & Outlook
Slide 19: Summary & Outlook
Summary & Outlook Significant progress against the strategic priorities outlined at 2024 CMD; size of the available opportunity remains vast Priority in the UK in H2 FY25 remains to continue the system implementations with Lookers and to begin the Marshall implementation in Q1 2026 Pinewood co
Slide 20: Appendix
Appendix
Slide 21: Financial Review – Statutory Income Statement
Financial Review – Statutory Income Statement £m unless stated H1 FY25 H1 FY24 Change Revenue 19.6 16.1 21.7% Gross Profit 17.0 14.5 17.2% Gross Margin % 86.7% 90.1% -340 bps • H1 FY25 was the 6m period ended 30-Jun- 25 and H1 FY24 was the 6m period 31-Jul-24 Underlying EBITDA 7.9 6.9 14.5% Underlyi
Slide 22: Pinewood.AI Customers
Pinewood.AI Customers* * Includes Pinewood and Seez customers 22
Slide 23: Overview of Pinewood
Overview of Pinewood Pinewood Technologies Automotive Intelligence Platform Group PLC today A leading Automotive High user loyalty Recurring revenue Software-as-a-Service Retail Ecosystem streams (SaaS) for 2 decades Pure cloud-based software designed Consistent growth in revenue and high, aro
Slide 24: A Market-Leading Proposition
A Market-Leading Proposition Secure end-to-end ecosystem of apps, designed to help dealership groups unlock automotive business value and drive performance and profitability Single interface with comprehensive functionality, seamlessly integrating data points into a centralized 1 One Version of the
Slide 25: Why Invest in Automotive DMS?
Why Invest in Automotive DMS? Mission-Critical Software Long Customer Tenure High Switching Costs • DMS is a mission critical system of record, allowing car • OEM relationships and market “know-how” are required • Historically, DMS migration has been a lengthy process, dealerships to manage day-to-d
Slide 26: Total North America Addressable Market
Total North America Addressable Market* North American automotive market constitutes ~$6.5bn of the total ~$9.3bn TAM # of rooftops DMS CRM Layered Apps ~$2.8bn ~$9.3bn Highly fragmented with ~$1.1bn lower spend ~$0.4bn ~$1.3bn ~$4.2bn Target segments given they cover ~70% ~$2.5bn ~$6.5bn of the fra
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