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ZIGUP (ZIG) investor relations material
ZIGUP H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved results above market expectations despite margin pressures, cyber incident, and wage increases.
Embedded a new organizational structure, unified UK and Ireland operations, and launched a refreshed brand and strategic narrative.
Stepped up investments in people, technology, and facilities, driving operational efficiency and customer satisfaction.
Awarded King's Award for Enterprise for social mobility and achieved high customer satisfaction scores.
Maintained high customer retention, strong new business pipeline, and contract extensions across key markets.
Financial highlights
Revenue increased 2.3% to £1,555.0m; EBITDA up £18.2m to £464.5m; PBT at £166.9m, 3% above consensus but down 7.6% year-over-year.
EBIT fell 5.5% to £202.0m; EPS decreased 4.9% to 58.4p.
Net debt closed at £836.7m, leverage just below 1.8x, within guidance.
Dividend per share up 2.3% to 26.4p.
Exceptional costs of £20.6m, mainly non-cash, related to strategic exit from personal injury legal market.
Outlook and guidance
Confident in achieving mid- to high single digit EBIT growth in FY 2026, excluding disposal profits.
Expect rental margins of 15–16% in UK/Ireland and 17.5–19.5% in Spain; Claims and Services margin above 5%.
Steady state cash flow projected to exceed £200m by FY 2027/28 as replacement CapEx normalizes.
Market conditions stable; residual values and durations have normalized since October 2024.
Targeting operational efficiencies and normalised market conditions.
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