Saga plc (SAGA) Q4 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to Saga's results for the year ended January 31st of January 2026. My name is Mike Hazel and I'm the Group CEO and I'm joined today by Mark Watkins our Group CFO. I'll start with a quick overview of the year highlighting the huge progress that we've made strategically and the strong performance that we've delivered across all of our businesses. Mark will then talk you through our financial results in more detail And finally, I'll provide an update on our strategy and the significant progress that we're making before opening to questions. 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 2031 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've restructured our insurance business through the sale of ACOL, our in-house underwriter, and the launch of our Aegeus 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 of profits. To better support this growth, we consolidated our previously separate travel leadership teams into one customer centric operation. As we simplify our approach to business, we are better able to place our full attention and focus on customer with brand at the heart of our decision-making. Importantly though, we've not allowed these changes to get in the way of our continued focus on trading and performance. We've grown each of our core businesses with r...