Zigup Plc (ZIG) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

All right. Good morning, everyone, and welcome to ZGAP's interim results. I'm Martin Ward, CEO, and joining me today on the presentation is Philip Vincent, our CFO. Just in terms of agenda, if we look at the presentation, I'm going to give a very brief overview of the results for the period. I'm going to hand over then to Philip to do a deep dive into the financial review before coming back to me for a business update and then closing off with questions and answers. So if we just go to slide four, I just want to set the scene for the half year results. So it's been a good interim period as we continue to invest in the delivery of our mobility strategy and profit performance for the group is in line with market expectations. Vehicle supply normalised, so there's no current issues, and the direction of travel for the rental fleet since the year end is tracking upwards. So we expect to see growth in the VOH through to the full year. Disposal profits continue to trend downwards as expected, albeit these are still elevated in Spain, but we expect them to reduce over time. And our current investments in the fleet, as seen in the increase in assets on the balance sheet, will generate steady-state cash flows of over £200 million in FY27, supporting both future growth and a sustainable dividend policy. Normalization of the supply chains in the claims and services area is driving down repair cycle times and higher lengths, but we saw revenue growth from additional mix of work, mainly repair volumes. Some really good work being undertaken around customers, which is driving performance, and we are pleased to see our Trustpilot scores continue to be rated as excellent and supports great customer outcomes. So based on the momentum we have to date, we are confident on the full year...