Mobico Group Plc · LSE:MCG
Mobico — Q2 2025 Earnings Presentation
32 slides from Mobico's earnings presentation, Sep 9, 2025
Slide 1: Simplify, Strengthen, Succeed
Simplify, Strengthen Succeed Mobico Group PLC Half Year Results For the period ended 30 June 2025
Slide 2: Introduction
Introduction Phil White Group Executive Chairman Mobico Group HY 2025 Results 2
Slide 3: Team commitments
Team commitments Transparency Integrity Delivery Communication Mobico Group HY 2025 Results 3
Slide 4: Mobico Group: What are we? Where are our priorities?
Mobico Group What are we? Where are our priorities? Mobico Group HY 2025 Results 4
Slide 5: Mobico Group: What are we? Where are our priorities?
Mobico Group What are we? Where are our priorities? Committed and loyal people, serving an important community purpose A diverse portfolio, with deep expertise across geographies and modes of transport History of operational excellence despite recent record of poor results delivery Opportunity
Slide 6: UK Coach
UK Coach What are we? Where are our priorities? Cover over 60 million miles as part of national Creating a pan-European coach powerhouse; UK network of services in UK & Ireland Coach will join ALSA from January 2026 Carry over 18 million passengers National Express brand will remain Iconic
Slide 7: UK Bus
UK Bus What are we? Where are our priorities? Leading operator of West Midlands commercial Bus Franchising planned from 2027 to 2030 Bus network with a good reputation Much improved relationship with our local Long history in the area stakeholders Cover over 50 million miles Embrace the
Slide 8: WeDriveU
WeDriveU What are we? Where are our priorities? Committed and loyal people, serving an Taking action to sort out operational issues important community purpose Exit of 1 loss making contract in 2025 A diverse portfolio, with deep expertise across Delivering on pipeline of growth opportunit
Slide 9: German Rail
German Rail What are we? Where are our priorities? One of the top five rail operators in Germany Actively addressing driver shortage problems with RME contract profitable additional driver training RRX onerous contract provision unchanged, Discussions with PTAs utilising £26.5m in the peri
Slide 10: Automóviles Luarca, S.A.
Automóviles Luarca, S.A. Mobico Group HY 2025 Results 10
Slide 11: A Life Saving Acquisition
A Life Saving Acquisition Mobico Group HY 2025 Results 11
Slide 12: ALSA
ALSA What are we? Where are our priorities? Spain’s leading road passenger transport Execute on a significant pipeline of growth business opportunities in Spain and internationally Urban bus, long distance coach, private hire and Diversification into transport related businesses health trans
Slide 13: What do we need to do?
What do we need to do? Simplify Strengthen Succeed • Streamlined management • Drive growth with cost and capex • Deliver our financial targets structure discipline • Be more agile • Better integration across the • Strengthening balance sheet • Deliver leading operational Group • Strong senior execut
Slide 14: 2025 H1 results
2025 H1 results H1 25 H1 24 Change Revenue1 £1.32bn£1.32b 7.0% £1.24b 7.0% 7.0% EBITDA1 £131.8m £131.8m (6.7)%£140.6m (6.7)% (6.7)% EBIT1 £59.9m£59.9m (12.7)%£68.6m (12.7)%(12.7)% Note 1: From Continuing Operations Mobico Group HY 2025 Results 14
Slide 15: Financial Review
Financial Review Brian Egan Group CFO Mobico Group HY 2025 Results 15
Slide 16: Financial imperatives
Financial imperatives Achieved through delivering strategic initiatives Reduced costs Greater control Increased cash and improved over capex and generation, margins working capital reducing net debt Mobico Group HY 2025 Results 16
Slide 17: HY 2025 financial overview
HY 2025 financial overview Adjusted, continuing operations H1 25 H1 241 Change Revenue £1.32b 1.24b 7.0% Group operating profit £59.9m £68.6m (12.7)% Key Metrics Free cash flow £57.8m £96.3m £(38.5)m ROCE 11.6% 8.1% 3.5% pts Covenant gearing 3.0x 2.8x 0.2x Statutory Operating profit from continuing
Slide 18: Divisional performance
Divisional performance Revenue Adjusted Operating Profit £m YoY% YoY% H1 25 H1 24 change1 H1 25 H1 24 change1 ALSA 687.4 617.1 11.4% 82.0 82.5 (0.6)% WeDriveU 218.0 192.6 13.2% 2.6 13.0 (80.0)% UK2 297.3 307.3 (3.3)% (9.6) (12.6) 23.8% Germany 120.8 120.2 0.5% 0.5 0.7 (28.6)% Central Functions (15.6
Slide 19: ALSA
ALSA XXX Key Stats H1 25 H1 24 % Change Revenue €816.3m €722.0m 13.1% Adjusted operating profit €97.4m €96.5m 0.9% Adjusted operating margin 11.9% 13.4% (1.5%) H1 2025 • Successful Easter campaign delivering outstanding results: €16.6m in revenue and 724k passengers for the nine main Long-haul corri
Slide 20: WeDriveU
WeDriveU XXX Key Stats H1 25 H1 24 % Change Revenue $283.0m $243.7m 16.1% Adjusted operating profit $3.4m $16.5m (79.4)% Adjusted operating margin 1.2% 6.8% (5.6)% H1 2025 • Transit & Shuttle systems, processes, and reporting are now unified under WeDriveU • Loss making contract in WMATA due to high
Slide 21: UK
UK UK XXX Key Stats H1 25 H1 24 % Change Revenue £297.3m £307.3m (3.3)% Adjusted operating profit £(9.6)m £(12.6)m 23.8% Adjusted operating margin (4.0)% (5.0)% 1.1% H1 2025 14% • To optimise Bus operations, a 2% network reduction commenced in May, with 1% already in effect • UK Coach restructuring
Slide 22: Germany
Germany Negotiations progressing well Key Stats H1 25 H1 24 % Change Revenue €143.4m €140.7m 1.9% Adjusted operating profit €0.6m €0.8m (23.7)% Adjusted operating margin 0.4% 0.6% (0.2)% H1 2025 • Profit is stated after OCP utilisation of £26.5m, total remaining value of the OCP as of 30 June 2025 i
Slide 23: Cash flow
Cash flow £m H1 25 H1 24 EBITDA 185.8 189.6 £21.1m of H1 25 Net maintenance capex (85.4) (89.7) relates to NA School Bus Working capital (9.0) 23.9 Pension deficit (3.8) (3.8) Operating cash flow 87.6 120.8 Interest (21.0) (23.7) Tax (8.8) - Free cash flow 57.8 96.3 £50.8m of H1 25 Growth capex and
Slide 24: Net debt
Net debt Increase in covenant net debt, prior to NA School Bus proceeds. £m H1 25 H1 24 Free Cash Flow after capex and M&A (18.8) 26.6 See Appendix for Adjusting items (44.1) (41.6) detailed breakdown Hybrid coupon (21.3) (21.3) Other, including FX (5.8) 4.5 Net funds flow (90.0) (34.7) Opening net
Slide 25: Debt maturity improved
Debt maturity improved Excludes allocation of North America School Bus proceeds of £273m Hybrid bond call period Nov25-Feb26 Options to call Total debt1 of c.£1.3b and refinance or roll the bond which resets from 4.25% to c. 8.5% - c£21.2m annual impact (at current rates) C. 75% of interest costs ar
Slide 26: Conclusion
Conclusion Phil White Group Executive Chairman Mobico Group HY 2025 Results 26
Slide 27: Strategic update
Strategic update Fix the Invest in our Leaner, smarter & underperforming strong businesses improve EBITDA businesses Reduce debt, Care for our increase passengers shareholder value Mobico Group HY 2025 Results Make our people feel proud again 27
Slide 28: Q&A
Q&A Mobico Group HY 2025 Results 28
Slide 29: Appendix
Appendix Mobico Group HY 2025 Results 29
Slide 30: Adjusting items from continuing operations
Adjusting items from continuing operations Profit Cash £m H1 25 H1 24 H1 25 H1 24 Adjusted Operating Profit 59.9 68.6 Intangible amortisation / impairment for acquired businesses (13.8) (10.7) Re-measurements of onerous contracts and impairments resulting from 3.9 (0.9) the Covid-19 pandemic Re-meas
Slide 31: HY 2025 discontinued operations
HY 2025 discontinued operations Discontinued Operations Profit Cash £m H1 25 H1 24 H1 25 H1 25 Adjusted operating profit1 28.3 8.4 Share of results from associates 0.2 Net finance costs (10.1) (6.2) Adjusted profit before tax 18.2 2.4 Adjusting items: Intangible amortisation / impairment for acquire
Slide 32: Disclaimer
The information in this presentation is general information and background only, and is not intended to be relied upon as advice to investors or potential investors as it does not take into account their particular investment objectives, financial situation or needs. The contents of this presentatio