Mobico Group Plc (MCG) Q4 2023 Earnings Call

Investor webinar replay

Watch the replay and follow the connected company analysis, news, and investor updates for Mobico Group Plc.

Watch the replay

Replay transcript excerpt

WEBVTT 00:00:00.503 -- 00:00:06.751 Good morning and welcome to our 2023 full year results and Q1 update. 00:00:06.751 -- 00:00:10.917 Thank you again for your understanding in waiting for this. 00:00:10.917 -- 00:00:15.884 We are pleased to have completed the supplementary inquiries around German rail that 00:00:15.884 -- 00:00:20.770 were deemed necessary and James will walk you through the conclusions of that and the 00:00:20.770 -- 00:00:24.162 weather group performance in a few moments. 00:00:24.162 -- 00:00:29.190 Before that, I would like to share the key messages that we have taken from what 00:00:29.190 -- 00:00:34.137 has been a more challenging 23 than we have hoped or expected. 00:00:34.137 -- 00:00:36.137 In 00:00:37.482 -- 00:00:42.590 short, our story is one of continuing positive demand drivers, but 00:00:42.590 -- 00:00:47.618 with profit recovery and therefore reduction in net debt somewhat slower than 00:00:47.618 -- 00:00:51.146 we had hoped. Yet, 2023 00:00:51.146 -- 00:00:56.276 has been a year in which important underlying progress has been made in the context 00:00:56.276 -- 00:01:01.505 of an evolving and challenging market where Movico has adapted and 00:01:01.505 -- 00:01:03.946 acted decisively. 00:01:04.150 -- 00:01:09.500 The fact that demand and revenue growth remains healthy is certainly 00:01:09.500 -- 00:01:13.471 encouraging, and we see that continuing. 00:01:13.471 -- 00:01:19.060 As well as delivering a strong new business conversion and healthy margins on Rocky, 00:01:19.060 -- 00:01:24.588 we're also retaining and successfully mobilizing important contracts that both 00:01:24.588 -- 00:01:30.097 drive revenues and validate our customer offering. 00:01:30.097 -- 00:01:34.861 Nonetheless, financial results have been disappointing....