**Summary of Mobico Group PLCs Unaudited Results for the 12 Months Ended 31 December 2025**
Mobico Group PLC reported unaudited results for the 12 months ended 31 December 2025, highlighting a turnaround with building momentum. Key points include
**Financial Performance**
Group revenue grew by 6.2% to ยฃ2.76 billion, driven by double-digit growth in Alsa and continued growth in WeDriveU.
Adjusted operating profit increased by 9% to ยฃ198 million, exceeding guidance, primarily due to strong end-of-year trading in Spain and cost-saving initiatives.
Statutory operating profit was ยฃ21.9 million, impacted by one-off adjusting items.
Covenant gearing improved to 2.7x, supported by proceeds from the NASB disposal.
**Strategic Progress**
Alsa achieved record revenue growth, offsetting challenges in the UK and operational issues with the WMATA contract in WeDriveU.
The Simplify for Success cost programme is expected to deliver ยฃ100 million in annualised cost savings by the end of 2026.
An agreement in principle with German Rail PTAs is expected to deliver a sustainable business going forward.
UK Coach is largely integrated into Alsa, reducing overheads and improving competitiveness.
**Outlook**
The Group expects Adjusted Operating Profit for 2026 to be in the range of ยฃ195 million to ยฃ210 million.
Focus remains on cost reduction, strict Capex control, and asset monetisation to improve cash generation and de-leveraging.
**Key Initiatives**
Sale of NASB raised ยฃ273 million in de-leveraging proceeds.
Agreement with German PTAs de-risks the German rail business.
Key contract wins in 2025 totaled ยฃ84 million in annualised revenue, with total contract values exceeding ยฃ437 million.
**Divisional Performance**
**Alsa**Record revenue of ยฃ1.49 billion, driven by strong performance in Spain and international diversification.
**WeDriveU**Revenue grew by 4.7%, but operating profit was impacted by operational challenges in specific contracts.
**UK & Germany**Revenue declined by 2.1%, with UK Coach facing increased competition and Germany seeing a return to full service levels.
**Financial Position**
Strong liquidity with ยฃ0.9 billion in cash and undrawn committed facilities.
Net debt reduced to ยฃ1.076 billion, supported by disposals and cost-saving measures.
**Future Focus**
Continued emphasis on simplifying and strengthening the business, with a focus on cash flow generation and de-leveraging.
Strategic priorities include preparing for key contract retentions in Spain and further operational diversification.
Overall, Mobico Group PLC demonstrated resilience and strategic progress in 2025, positioning itself for further growth and improvement in 2026.
Here is a comparison of Mobico Group PLC's financials and debt year on year, presented as an HTML table:
**Key Observations:** * **Revenue Growth:** Mobico Group PLC experienced a 6.2% increase in Group Revenue from ยฃ2.60 billion in 2024 to ยฃ2.76 billion in 2025, primarily driven by strong performance in Alsa and WeDriveU.
* **Adjusted Operating Profit Improvement:** Adjusted Operating Profit increased by 9.3% from ยฃ181.1 million in 2024 to ยฃ198.0 million in 2025, attributed to strong trading in Alsa and cost-saving initiatives.
* **Statutory Operating Profit Decline:** Statutory Operating Profit decreased by 35.6% from ยฃ34.0 million in 2024 to ยฃ21.9 million in 2025, impacted by one-off adjusting items.
* **Free Cash Flow Decrease:** Free Cash Flow significantly declined by 63.2% from ยฃ210.2 million in 2024 to ยฃ77.3 million in 2025, mainly due to the decrease in operating cash flow and higher growth capital expenditure.
* **Net Debt Reduction:** Net Debt decreased by 10.5% from ยฃ1,202.5 million in 2024 to ยฃ1,075.7 million in 2025, aided by proceeds from the disposal of the North America School Bus business.
* **Covenant Gearing Improvement:** Covenant Gearing improved slightly from 2.8x in 2024 to 2.7x in 2025, indicating a stronger financial position.