Pinewood Technologies’ H1 results to 30 June show significant progress across multiple fronts in becoming a leading global automotive software provider. The Group has issued a new medium term adjusted EBITDA target for FY28 of £58m-£62m, which now includes the impact from the North American business that Pinewood took full control of earlier this year (see Zeus note). In the near term, our forecast FY25 EBITDA is reduced by c. 16% to £15.8m due to the accounting impacts of consolidating the JV a ....
