Pinewood Technologies Group PLC (LSE:PINE) has pushed back the rollout of its Pinewood.AI platform for Marshall Motor Group to the second half of 2026 as the dealership group aligns the deployment with its broader technology modernisation programme. The delay means some expected revenue will shift into later periods, and the company now expects FY26 underlying EBITDA to fall short of current market forecasts.
Despite the revised timing, Pinewood continues to reaffirm its medium-term guidance of £58–62 million in underlying EBITDA by 2028. The outlook is supported by existing contracts and a strong pipeline of opportunities, while Marshalls’ enlarged dealership network is expected to amplify the long-term benefits once the system is fully implemented.
Elsewhere, rollout of the Pinewood.AI platform at Lookers remains on track. The company recently completed a large-scale simultaneous go-live across 13 Mercedes-Benz dealerships and plans to extend the system across the remainder of Lookers’ network by the fourth quarter of 2026.
Pinewood is also progressing its expansion strategy in North America through collaboration with Lithia Motors. The partnership is currently testing core dealership functions ahead of a wider rollout in the region later in 2026, targeting the sizeable U.S. automotive retail market.
In Europe, the group has acquired its final remaining reseller in the Netherlands for £3.3 million. The acquisition gives Pinewood direct control over sales and customer support in that market and is expected to contribute approximately £0.7–0.8 million in annual EBITDA. The move supports the company’s broader expansion across Central Europe and strengthens its international footprint ahead of the publication of its FY25 results in April 2026.
Pinewood’s outlook is supported by improving financial performance, including stronger margins, stable balance sheet conditions and solid cash generation. Technical indicators remain positive but appear somewhat stretched, with elevated RSI and stochastic readings suggesting the shares may be overheated in the near term. Valuation analysis remains limited due to the absence of price-to-earnings and dividend yield data.
More about Pinewood Technologies
Pinewood Technologies Group PLC, trading as Pinewood.AI, provides cloud-based technology solutions for automotive retailers and original equipment manufacturers. Its platform integrates dealership operations including vehicle sales, aftersales services, accounting and customer relationship management. Headquartered in the UK and North America, the company serves customers in 36 countries, works with more than 50 automotive brands and expanded its AI capabilities through the 2025 acquisition of Seez.
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