SAGA PLC (SAGA) — Preliminary results for the year ended 31 Jan 2026

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the SAGA PLC preliminary results for the year ended 01/31/2026 presentation. The The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses where appropriate to do so. Before we begin, I'd like to submit the following poll. I'd now like to hand over to Mike Hazel, CEO. Good morning, sir. Good morning, everyone, and welcome to SAGA's results for the year ended 01/31/2026. My name is Mike Hazel. I'm the group CEO, and I'm joined today by our group CFO, Mark Watkins. I'll start with a quick overview of the year, highlighting the huge progress that we've made. Mark will then talk you through our financial results, and I'll then provide an update on our strategy and the significant progress we are making before turning to questions. As a reminder, for those of you that haven't seen our more detailed Citi presentation, that is available on our website together with our full set of results. This has been a transformational year for SAGA, underpinned by strong full year results and a performance that was ahead of expectations. We completed our refinancing in February last year, putting in place a new 2,031 corporate debt facility. This has materially enhanced the group's liquidity position, significantly increased covenant headroom and provided funding certainty as we execute our growth plans. We restructured our insurance business through the sale of Aecol, our in house underwriter, and the launch of our Aegis partnership. We now have a less complex insurance business where we no longer take any underwriting risk and benefit from a more predictable income stream. Travel has now become our largest and fastest growing driver o...