Pinewood Technologies Group (PINE) Trading Update summary

Significant contract award

• Entered a five-year contract with Global Auto Holdings to implement Pinewood Automotive Intelligence across 155+ dealerships in the UK, North America, and Scandinavia.

• Largest non-associated dealership group to adopt the platform, expected to deliver significant earnings over the contract's lifetime.

• Issued warrants to Global Auto Holdings for up to 7% of Pinewood's share capital, exercisable upon successful platform rollout in each region.

Trading update and financial performance

• Underlying profit before tax for the 11 months ending 31 Dec 2024 expected at £8.3m, ahead of analyst consensus of £7.8m.

• Strong momentum from recent contract wins, including Marshall Motor Group and successful partnership with Lithia Motors.

• Implementation for large new customers will be weighted more towards 2026 to align with client requirements.

Strategic progress and outlook

• Achieved target of signing two of the top 20 auto retail groups in the UK and Ireland ahead of schedule.

• Laying groundwork for further expansion across core markets.

• Optimism for continued strategic and operational progress in the coming year.