Business
Update on School Bus sale and FY25 Profit Guidance
Update on School Bus sale and FY25 Profit Guidance.
About this update from Mobico Group Plc
[{"type":"text","content":"\n\n24 June 2025\nMOBICO GROUP PLC\n(\"Mobico\" or the \"Group\")\nUpdate on North America School Bus sale and FY 2025 Adjusted Operating Profit Guidance\nOn 25 April 2025 Mobico announced that it had agreed to sell its North America School Bus business (\"School Bus\") to I Squared Capital (\"I Squared\") for an enterprise value of up to $608 million (~£457 million[1]) (the \"Transaction\").\nSince that announcement, good progress has been made in obtaining the necessary consents and approvals, including anti-trust approvals, required for the Transaction to close. The only substantive approval remaining is from the US Surface Transportation Board (\"STB\"), which has already tentatively approved and authorised the Transaction, and this approval is expected to become final in early July 2025.\nOn the basis that the STB approval does become final in early July 2025, Mobico would expect to close the sale of School Bus in July 2025. Expected upfront net proceeds[2] remain at approximately $365-385 million (~£275-290 million1 ) with the final outcome confirmed following the closing of the Transaction.\nAn update on anticipated cashflow and leverage will be provided following the closing of the Transaction, and the Group continues to have strong liquidity with no significant debt maturities due until the second half of 2027 and the sale of School Bus providing sufficient proceeds to cover those maturities. \nMobico also takes this opportunity to confirm that, excluding any contribution from School Bus for the period of the Group's ownership in FY 2025, it currently expects FY 2025 Adjusted Operating Profit to be in the range £180 - £195m[3].\nFor further information, please contact: \nMobico Group PLC\n\n\n\n\nMichael Barker, Investor Relations\n\n\n+44 (0)121 803 2580\n\n\n\n\nHeadland\n\n\n\n\nStephen Malthouse\n\n\n +44 (0)7734 956201\n\n\n\n\nMatt Denham\n\n\n +44(0)7551 825496\n\n\n\n\nAbout Mobico Group\nMobico is a leading, international shared mobility provider with bus, coach and rail services in the UK, North America, continental Europe, North Africa and the Middle East.\nNotes\n1. Legal Entity Identifier: 213800A8IQEMY8PA5X34\n2. Classification: 3.1 (with reference to DTR6 Annex 1R)\n \n\n\n\n\n[1] Translated illustratively at a GBP / USD rate of approximately...