Mobico Group PLC

MCG

Equity

ISIN GB0006215205 / Valor 9350

LSE London Stock Exchange, SETS (2024-12-23)

GBP 0.77-1.22%

Mobico Group PLC
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Mobico Group PLC is a multinational company operating in 11 countries, with a focus on becoming the leading shared mobility operator globally. The company offers various opportunities for employees as part of its Evolve strategy, aiming to be the employer of choice in the industry. With a strong presence in the shared mobility sector, Mobico Group PLC is dedicated to achieving its vision through strategic growth and innovation in the market.

Summarized from source with an LLMView SourceSector: Consumer Services

Revenue Growth

Mobico Group PLC reported a 12.2% increase in group revenue for the full year ended 31 December 2023, reaching £3.15 billion compared to £2.81 billion in the previous year. This growth was driven by increased passenger volumes, route recovery, and effective pricing strategies.

Operating Profit

The adjusted operating profit for Mobico Group PLC decreased by 14.5% to £168.6 million in FY 2023, down from £197.3 million in FY 2022. This decline was attributed to cost inflation, a reduction in Covid-related subsidies, and lower profitability in the German market.

Net Debt and Gearing

Mobico Group PLC's covenant net debt stood at £987.1 million at the end of FY 2023, slightly up from £985.8 million in FY 2022. The covenant gearing ratio increased to 3.0x from 2.8x, remaining below the covenant test limit of 3.5x.

Dividends

For the full year ended 31 December 2023, Mobico Group PLC declared a dividend per share of 1.7p, a decrease from the 5.0p per share declared in the previous year. This reduction reflects the company's focus on managing financial stability amid challenging market conditions.

Future Outlook

Mobico Group PLC expects its adjusted operating profit for FY 2024 to be in the range of £185 million to £205 million. The company anticipates further benefits from pricing and restructuring initiatives, alongside continued volume growth.

Summarized from source with an LLMView Source

Key figures

-1.22%1Y

-69.5%3Y

-83.6%5Y

Performance

46.0%1Y

49.3%3Y

62.0%5Y

Volatility