Zigup Plc (ZIG) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.521 All right. Good morning, everyone, and welcome to ZGAP's interim results. 00:00:05.521 -- 00:00:10.110 I'm Martin Ward, CEO, and joining me today on the presentation is Philip Vincent, our 00:00:10.110 -- 00:00:12.014 CFO. 00:00:12.014 -- 00:00:15.240 Just in terms of agenda, if we look at the presentation, 00:00:15.240 -- 00:00:19.606 I'm going to give a very brief overview of the results for the period. 00:00:19.606 -- 00:00:23.592 I'm going to hand over then to Philip to do a deep dive into the financial review before 00:00:23.592 -- 00:00:29.200 coming back to me for a business update and then closing off with questions and answers. 00:00:29.200 -- 00:00:34.808 So if we just go to slide four, I just want to set the scene for 00:00:34.808 -- 00:00:39.935 the half year results. So it's been a good interim period as we continue 00:00:39.935 -- 00:00:44.942 to invest in the delivery of our mobility strategy and profit performance for the 00:00:44.942 -- 00:00:48.624 group is in line with market expectations. 00:00:49.036 -- 00:00:53.724 Vehicle supply normalised, so there's no current issues, and the direction of travel 00:00:53.724 -- 00:00:57.291 for the rental fleet since the year end is tracking upwards. 00:00:57.291 -- 00:01:02.861 So we expect to see growth in the VOH through to the full year. 00:01:02.861 -- 00:01:08.130 Disposal profits continue to trend downwards as expected, albeit these are still 00:01:08.130 -- 00:01:13.403 elevated in Spain, but we expect them to reduce over time. 00:01:13.403 -- 00:01:17.229 And our current investments in the fleet, as seen in the increase in assets on the balance 00:01:17.229 -- 00:01:22.298 sheet, will generate steady-state cash flows of over £200 million 00:01:22.298 -- 00:01:24.14...