Mobico Group (MCG) Q1 2025 TU earnings summary

Group performance

• Group revenue increased by 9% year-on-year, driven by continued growth in passenger demand, especially at ALSA.

• Organic cash improvement and debt reduction initiatives are on track to deliver an additional £25m of cash for FY2025.

• North America School Bus divestment is progressing as planned, with completion expected early Q3 2025.

ALSA segment

• ALSA revenues grew by 13% (16% at constant currency), with strong trading in Spanish Long Haul and regional contracts.

• Long Haul revenue rose 7% on main corridors, supported by increased passenger numbers and voucher schemes.

• Regional business revenue increased by 15%, with a 9% rise in passenger numbers; urban revenue up 11%.

• Successful contract renewals and new awards, including in the Basque country and Catalonia.

North America segment

• North America revenue increased by 13%, driven by higher billable hours in WeDriveU and rate increases in School Bus.

• Proposed sale of School Bus to I Squared Capital for up to $608 million, with net proceeds of $365–385 million, will support debt reduction.