Trading momentum continues into 2026 with clear focus on addressing legacy commitments

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Highlights for the 3 and 15-month periods ending 31 March 2026 (3m 2026 and 15m 2026)

• Adjusted Revenue of £3.42bn (+5.9% vs. 15m 2025 of £3.23bn, 12m 2024: £2.60bn)
  • Alsa Adjusted Revenue increased to £1.84bn (+11.5% vs. 15m 2025), reflecting strong performance which continued into the quarter ending 31 March 2026 (3m 2026: +8.8% vs. 3m 2025)
  • Increased competition in UK Coach has affected yields and volumes. Following integration into Alsa, initiatives are underway to improve operational performance, improve competitiveness and drive synergies
  • Group revenue for 3m 2026 of £660m (+4.3% vs. 3m 2025) driven by Alsa and full service-levels in Germany
• Adjusted Operating Profit of £231m (15m 2025: £196m, 12m 2024: £180m)
  • Statutory Operating Profit of £12m (15m 2025: £42m, 12m 2024: £32m), impacted by one-off adjusting items, primarily non-cash items including impairments and increases in provisions
  • Adjusted Operating Profit for 3m 2026 of £33m (3m 2025: £17m) driven by Alsa and German Rail
• Covenant gearing of 2.9x (Dec 2025: 2.7x, Dec 2024: 2.8x)
  • Liquidity of £0.8bn as at 31 March 2026, consisting of £242m in net cash and an undrawn £600m revolving credit facility (RCF)
  • Free Cash Flow of £132m (12m 2025: £77m, 12m 2024: £216m) with the decrease on 12m 2024 reflecting cash outflows related to NASB prior to sale completion in July 2025
• Progress on simplifying and strengthening the business
  • Active focus on managing cash outflows associated with legacy liabilities
  • Revised contracts signed with the German Public Transport Authorities (PTAs) post period-end. The benefits are not reflected in these results but will improve EBITDA in future results with effect from 1 January 2026
  • UK Bus asset monetisation progressing with completion expected ahead of the transition to franchising
  • Sale of NASB and National Express Transport Solutions completed
  • In 15m 2026, the Group won 28 new contracts with annualised revenue of £109m and total contract values of £682m

Outlook

• On track to deliver £100m of annualised opex savings and reduce capex to below £120m in 2027 (12m 2025: £152m excluding NASB)
• Adjusted Operating Profit guidance for calendar year 2026¹ increased from £195 - 210m to £215m - 230m
• A small reduction in Covenant gearing expected at 31 December 2026
• Exposure to fuel costs managed through contractual protections and hedges which provide certainty in the short to medium-term (100% in 2026, 53% in 2027 and 23% in 2028 at prices lower than 2025)

Paco Iglesias, Group CEO, said:

“Mobico has maintained its positive performance through the first quarter of 2026, driven by continued growth in Alsa and a resumption of full-service levels in Germany from the end of 2025. We are increasing our Adjusted Operating Profit guidance for calendar year 2026 to £215 - 230m. Whilst challenges remain within our US and UK operations, we are actively addressing these and are making substantial progress through our ‘Simplify, Strengthen, Succeed’ strategy which is centered on a leaner, more integrated, approach across the Group and which is on track to generate £100m of annualised cost savings.

Debt reduction remains the Board’s key priority; however, cash outflows associated with legacy liabilities continue to constrain our capacity to reduce net debt. We are working closely with our advisers to evaluate all our available strategic and financial options to accelerate leverage reduction, and expect to provide an update in the second half of the year.”

Webcast presentation for institutional investors and analysts at 09:00am BST today

Mobico’s Executive Chair, Phil White, Group CEO, Paco Iglesias and Group CFO, Brian Egan, will host a webcast for institutional investors and analysts.

To join online: https://connectstudio-portal.world-television.com/en/6a0c4819a6536a1fdddd92c4

A recording will be made available later in the day on the website: https://www.mobicogroup.com/investors/

Investor Meet Company webcast at 10.15am BST today

Mobico’s Executive Chair, Phil White, Group CEO, Paco Iglesias and Group CFO, Brian Egan, will also host a webcast for retail investors.

To join online: https://www.investormeetcompany.com/mobico-group-plc/register-investor

For further information, please contact:

Mobico Group PLC

Headland

About Mobico Group

Mobico is a leading, international shared mobility provider with bus, coach and rail services in the UK, the US, continental Europe, North Africa and the Middle East.

Notes

1. Legal Entity Identifier: 213800A8IQEMY8PA5X34
2. This announcement contains forward-looking statements with respect to the financial condition, results, and business of Mobico Group. By their nature, forward-looking statements involve risk and uncertainty and there may be subsequent variations to estimates. Mobico's actual future results may differ materially from the results expressed or implied in these forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, Mobico does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Forward-looking statements can be made in writing but also may be made verbally by members of the management of the Group (including without limitation, during management presentations to financial analysts) in connection with this announcement.