WM Bus Photos Forum

Elliot advisors, the activist hedge fund & NX Groups largest shareholder has announced plans to sell nearly a 10% stake in NX group worth £120 million

Elliot bought in to NX group when the group was strangled by high levels of debt & took part in the rights issue back in 2009. They have up to last year caused NX group numerous headaches through attempted shareholder revolts, pushing for the group to be broken up & sold off in pieces, merging with another UK or European transport group & even having its own nominated non exec directors on the NX board of directors. This latest announcement appear to show that Elliot are finally losing interest & setting its sights elsewhere

http://www.guardian.co.uk/business/marketforceslive/2013/mar/06/national-express-elliott-share-sale

Dean Finch/NX group 1 - Elliot Advisors 0

Quote from: Winston on March 06, 2013, 08:42:38 PM
Elliot advisors, the activist hedge fund & NX Groups largest shareholder has announced plans to sell nearly a 10% stake in NX group worth £120 million

Elliot bought in to NX group when the group was strangled by high levels of debt & took part in the rights issue back in 2009. They have up to last year caused NX group numerous headaches through attempted shareholder revolts, pushing for the group to be broken up & sold off in pieces, merging with another UK or European transport group & even having its own nominated non exec directors on the NX board of directors. This latest announcement appear to show that Elliot are finally losing interest & setting its sights elsewhere

http://www.guardian.co.uk/business/marketforceslive/2013/mar/06/national-express-elliott-share-sale

Dean Finch/NX group 1 - Elliot Advisors 0

Wonder if Stagecoach will get their chequebook out? A great way to finally get at least a tiny share of the West Midlands bus operation!

Quote from: D10 on March 06, 2013, 08:55:31 PM

Quote from: Winston on March 06, 2013, 08:42:38 PM
Elliot advisors, the activist hedge fund & NX Groups largest shareholder has announced plans to sell nearly a 10% stake in NX group worth £120 million

Elliot bought in to NX group when the group was strangled by high levels of debt & took part in the rights issue back in 2009. They have up to last year caused NX group numerous headaches through attempted shareholder revolts, pushing for the group to be broken up & sold off in pieces, merging with another UK or European transport group & even having its own nominated non exec directors on the NX board of directors. This latest announcement appear to show that Elliot are finally losing interest & setting its sights elsewhere

http://www.guardian.co.uk/business/marketforceslive/2013/mar/06/national-express-elliott-share-sale

Dean Finch/NX group 1 - Elliot Advisors 0

Wonder if Stagecoach will get their chequebook out? A great way to finally get at least a share of the West Midlands bus operation!

I think the Stagecoach takeover bid was more opportunistic at the time when NX group was on its knees and the individual divisions were worth more sold off separately than the value of the group. I'd be surprised if Stagecoach takes part in the 10% sale, after all they could have amassed a similar stake in the group buying on the open market after their merger proposals were rejected by the NX board. All will become clear this Thurs.

Another one to throw in to the mix Deutsche Bahn after NX have entered Germany with two franchise wins at the expense of DB & are also now setting a coach operation in the country

The Elliott Advisor 50,597,859 shares have been placed at a price of 210 pence per share. At yesterdays close prior to the announcement, NEX shares were 230 pence per share. By Elliott selling such a big quantity in one go, it has wiped circa £10.1 Million off the value of the stake they are selling......

Dean Finch is continuing to build a new senior management team at NX made primarily of former First Group management

http://www.scotsman.com/business/transport/mary-grant-jumps-aboard-national-express-1-2975452

Mary Grant, will be working on International growth opportunities initially, then from 2014 is expected to move focus back to the UK in the form of new rail franchises

So that means the company will be on its needs again with First Management up the top!! Next thing we'll be giving change haha

Quote from: The Rat on June 26, 2013, 06:22:25 PM
So that means the company will be on its needs again with First Management up the top!! Next thing we'll be giving change haha

Only if Dean Finch pulls Moir Lockhead out of retirement & gives him a job........

Quote from: Winston on June 26, 2013, 07:17:58 PM

Quote from: The Rat on June 26, 2013, 06:22:25 PM
So that means the company will be on its needs again with First Management up the top!! Next thing we'll be giving change haha

Only if Dean Finch pulls Moir Lockhead out of retirement & gives him a job........

Possible haha.

I dont know though, once First always Worst!!

I am astounded that NX Group think they should be taken seriously by the Dft when it comes to any future rail franchises. If the Government had any backbone they would surely give them a fixed term ban from bidding following their blatant contract contravention on one franchise and shocking performance on the other, yet they will roll up at the next round with their cap out again?

First should also expect some retribution for leaving the Great Western in chaos and bailing out just prior to the time they would have had to make premium payments.

Why do we as a country stand for a system like this where we are constantly pillaged by fat cat shareholders who don't play by the rules yet still walk away with their money and then astonishingly come back for more the next time round?

NX Group Trading Statement issued to the stock market this morning, for anyone interested, all seems pretty positive.....

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11632274

3rd quarter interim management statement released this morning for anyone interested:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11758720

Quote from: Winston on June 26, 2013, 04:48:33 PM
Dean Finch is continuing to build a new senior management team at NX made primarily of former First Group management

So we'll be going back to years of underinvestment and debt then!

Just when things for NXWM were looking up!

Quote from: nx4737 on October 31, 2013, 11:10:04 AM

Quote from: Winston on June 26, 2013, 04:48:33 PM
Dean Finch is continuing to build a new senior management team at NX made primarily of former First Group management

So we'll be going back to years of underinvestment and debt then!

Just when things for NXWM were looking up!

Nope, because Moir Lockhead isn't involved.

Dean Finch has already confirmed that he's intending to lower current debt levels further by 2015. All NX Group growth is coming from existing revenue growth through investment and capital light business ventures such a new start up's i.e City 2 City in Germany, German Rail contract wins, small acquisition of US Transit business & subsequent contract wins, further contract wins for ALSA in Spain & Morrocco etc

I don't think we'll see much more than smaller bolt-on acquisitions for the foreseeable until debt levels are much lower

Winston - I agree fully with your assessment.  It looks like more of the same for NX for now, which won't be a bad thing.

Quote from: Justin Tyme on October 31, 2013, 07:55:45 PM
Winston - I agree fully with your assessment.  It looks like more of the same for NX for now, which won't be a bad thing.

Justin,

All appears to be positive & heading in the right direction, I think it's steady as she goes for the next couple of years, some acquisitions would be nice and I'd personally like to see NX Group become a bigger player in the UK bus. Realistically it will be small bolt-on acquisitions at most by the looks of it across the group. The main focus for expansion appears to be outside of the UK in USA, Germany, Spain & Morocco

NX Group have pre-qualified for the ScotRail Franchise along with First Group

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11761355

NX Group Full Year Results announced today for anyone interested:

http://www.nationalexpressgroup.com/lib/docs/230804-nxfullyearresults2013.pdf

Quote from: Winston on February 27, 2014, 12:41:48 PM
NX Group Full Year Results announced today for anyone interested:

http://www.nationalexpressgroup.com/lib/docs/230804-nxfullyearresults2013.pdf

Those numbers are really mind-boggling. I wonder how much money even bigger companies then NX are getting, After-Tax profit? Unbelievable.

I know a driver-friend wants the figures of how many dismissed drivers there has been, year of 2013? Don't think they're going to be that giving with those numbers...

NX are focusing expansion outside of the UK on Germany, US & Morocco. But are also looking at Czech Republic, Saudi Arabia & the Emirates in addition

http://www.ft.com/cms/s/0/f3f9d4b8-9fa5-11e3-b6c7-00144feab7de.html#axzz2uXS9tx4d

Interim management statement:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11950677

Half Year Results:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=12034024

NX Group look to be targeting new markets in the Middle East and have been selected as preferred bidder to run urban bus services in Bahrain alongside a local partner

Interim Management Statement:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12133481.html

NX Group Full Year Results announced today for anyone interested:

http://www.nationalexpressgroup.com/media/2039/nex-2014-fy-results-presentation.pdf

http://www.nationalexpressgroup.com/media/2040/nex-2014-fy-results-release-final.pdf

Still no mention of Malta Bus contract win either under NX Group highlights or under ALSA (Overview)

More passengers, more income, more profit and more repayment of debt.  NX still seem to be firmly going in the right direction.

Quote from: Justin Tyme on February 28, 2015, 07:58:30 PM
More passengers, more income, more profit and more repayment of debt.  NX still seem to be firmly going in the right direction.

Wonder what they're like to work for.

Quote from: Liverpool Street on February 28, 2015, 09:14:42 PM
Wonder what they're like to work for.

Yep - that's the other side of the equation, you could say.

NX Group Half Year Results announced today for anyone interested:

http://nexgroup.blob.core.windows.net/media/2434/150728-national-express-group-2015-half-year-results.pdf

L/S just been reading posts from 2014 regarding driver dismissals the figures would make interesting reading I would imagine, I,ve seen the recent recruitment drive it just makes me laugh, I,ve noticed people leaving again, some dismissals here at west brom as well, talking to some of the rookies the reality of the job and the picture Walsall paint at the training centre two different things. There's quite a few of us thinking and some actually have done there class two and class one licences. a few have moved onto trucking, they tell me should have done it years a go.

NX Group have been named preferred bidder on 420 bus Porto contract in Portugal, to be operated by ALSA:

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12502568.html

Interesting article on NX Group prospects following two broker upgrades yesterday:
http://news.markets/shares/national-express-out-in-front-after-broker-upgrade-17539/

NX Group Interim Management Statement issued this morning:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12558701.html

National Express Group Full Year results issued this morning:
http://www.nationalexpressgroup.com/media/corporate-news/2016/full-year-results-for-the-year-ended-31-december-2015/

Pretty impressive!

National Express Group half year results released this morning: http://www.nationalexpressgroup.com/media/2797/20160728-nex-half-year-final.pdf

Notice there are non of the constant excuses that prevent First Group from improving their financial results

Impressive, these are solid results from NX, I used to think their bus operations in the WM were their main source of revenue  :D :P

Trading statement:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/NEX/13011332.html

NX Group is now the UK's most valuable public listed transport group with a Mkt Cap £1.88 Billion

How the worm has turned only a few years ago it was all slipping aaway!!

That explains what those stripes were on the sides of NX buses they were silverworms!

NX Group Full Year results released this morning:
http://www.nationalexpressgroup.com/media/2958/national-express-group-full-year-results-2016.pdf

Trading statement issued today

Strong momentum maintained

National Express Group PLC ("National Express" or "the Group") today reports its Trading Update for the period 1 January 2017 to 30 April 2017 ("the period").


Overview

The Group has maintained its strong momentum from 2016, with an overall revenue increase from continuing operations of 5.4% on a constant currency basis, up 15.8% on a reported basis, benefiting from organic growth and a number of bolt-on acquisitions made last year, together with significant foreign exchange tailwinds. The Group remains on target to deliver its profit expectation and free cash flow and leverage targets for the year.

Highlights

Our strategy of consistently focusing on operational excellence, the deployment of technology and pursuing growth through new opportunities including bolt-on acquisitions continues to deliver.
Group profit before tax is up year-on-year on a constant currency basis, driven by both organic growth and the benefit of recent acquisitions.
North America has had a strong start to the year with revenue up 5.8% in constant currency, boosted by the recent acquisitions. We have had another strong bid season with our consistently high contract retention rate at 96%. 2017 has seen a much smaller proportion of contracts up for renewal compared to last year. Where contracts have been renegotiated or renewed we have secured an average price increase of 3.8%, up 2.2% across the entire portfolio.
ALSA has delivered a strong increase in revenue, up 8.4% in constant currency, with organic growth also enhanced by acquisitions. The division saw good passenger growth in the period, with Spain's real-time active revenue management system performing well and helping to drive a strong performance over the Easter break.
In the period, one of our Spanish long distance coach concessions was retendered. Although relatively small in revenue terms, the Madrid-Guadalajara renewal has confirmed the importance of the quality elements of bids, a key strength of our offer. It has provided us with further confidence in our future prospects through the concession renewal process.
UK Coach has also benefitted from our real-time revenue management system and delivered an increase in patronage over the Easter break of 4%. Revenue was up 2.7% during the period.
Overall, UK Bus commercial revenue has declined by 0.5% in the period. The challenging conditions experienced at the end of 2016 continued in the early part of the year, passenger number decreasing 0.7% in the period. Recently, however, we have seen a more encouraging performance, with commercial revenue now flat year on year and passenger numbers up 1% in the last six weeks.
UK Bus has seen positive results from the Sandwell and Dudley fare reductions, with passenger growth already sufficient to yield overall revenue growth in the local area. We will shortly extend the lessons from these early successes further across the West Midlands. A recent restructuring – including management changes to bring UK Coach's revenue expertise in to UK Bus – is designed to target additional revenue growth initiatives as well as cost efficiencies. We look forward to working constructively with the new West Midlands Mayor to deliver ever-improving services and tackle congestion.
Our German Rail services continue to perform well, with operational and customer service statistics remaining strong. We recently clarified our revenue position in Germany including latest passenger count data, allowing us to recognise all revenue earned, confirming the profitability of the contract.
We continue to have a strong pipeline of further acquisition opportunities and are actively pursuing targets in North America and Europe. We are also assessing two German rail bids during the year.
Dean Finch, Group Chief Executive, commented:

"I am pleased we have maintained our strong momentum into 2017, with a good revenue performance driven by both organic growth and the benefit of our recent acquisitions. Our diversified portfolio is providing broad-based growth that is also providing additional opportunities for further expansion.

"We will continue to focus on operational excellence to drive our growth by both delivering high standard services for our customers and generating cash and returns that we can invest in future expansion. These opportunities will continue to be sought in a disciplined manner and we will only pursue them if they meet our strict financial criteria. We remain on track to meet our full year profit and cash flow expectations."

Pretty impressive trading statement from NX, it's just the UK bus division letting the side down in terms of revenue & profit growth.

NX Group Half Year Results released this morning, it's just UK Bus & Coach where profit growth has stalled / is slipping, report suggests 'new low fare zones' are driving passenger growth & revenues for NXWM in Dudley & now Walsall is showing similar results:
http://www.nationalexpressgroup.com/newsmedia/corporate-news/2017/half-year-results-for-the-period-ended-30-june-2017/

Full Report:
http://www.nationalexpressgroup.com/media/3211/national-express-group-half-year-results-2017-1.pdf

NX Group Trading Update:

http://www.nationalexpressgroup.com/newsmedia/corporate-news/2017/national-express-q3-trading-update/

NX Group Trading Statement:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/NEX/13452017.html

NX Group Full Year Results:

http://www.nationalexpressgroup.com/media/3305/180228-natex_rns-final-version-for-baml-and-web.pdf

One of the few transport groups to once again post improved results.

Quote from: Winston on March 01, 2018, 10:16:48 AM
NX Group Full Year Results:

http://www.nationalexpressgroup.com/media/3305/180228-natex_rns-final-version-for-baml-and-web.pdf

One of the few transport groups to once again post improved results.

Quoting a line from the results

"The launch of a much-improved app in March that will allow real-time tracking of buses, amongst other customer-friendly features."

Hopefully no fleet numbers etc just so we don't have stay at home spotters...

Quote from: uniquicity on March 01, 2018, 12:38:13 PM
Quoting a line from the results

"The launch of a much-improved app in March that will allow real-time tracking of buses, amongst other customer-friendly features."

Hopefully no fleet numbers etc just so we don't have stay at home spotters...

If the new app's any faster then I'll be happy. The current one works just fine but it seems really slow at times, especially at peak times.

Quote from: DJ98 on March 01, 2018, 01:03:19 PM
If the new app's any faster then I'll be happy. The current one works just fine but it seems really slow at times, especially at peak times.

I use UK Bus Checker app, best app ever!

Quote from: uniquicity on March 01, 2018, 12:38:13 PM
"The launch of a much-improved app in March that will allow real-time tracking of buses, amongst other customer-friendly features."

Hopefully no fleet numbers etc just so we don't have stay at home spotters...

Wouldn't hurt if Diamond can do it, it would save Tony a lot of hassle in the morning too!

Quote from: V89MOA on March 01, 2018, 03:29:19 PM
Wouldn't hurt if Diamond can do it, it would save Tony a lot of hassle in the morning too!

Tony has also been unwilling to provide PVRS which can be found out through the use of bus trackers, so I doubt that nx would provide such 'delicate information'.

Quote from: Trident 4194 on March 01, 2018, 04:39:47 PM
Tony has also been unwilling to provide PVRS which can be found out through the use of bus trackers, so I doubt that nx would provide such 'delicate information'.

The test version I have got on my phone doesn't show vehicles on a map still. It does take information of all operators though, so even shows times of other operators departures.

It is still under test at the moment, so I am not sure what is still to be added and what will be changed

Quote from: Tony on March 01, 2018, 05:41:00 PM
It is still under test at the moment, so I am not sure what is still to be added and what will be changed

Fingers crossed then!

Quote from: Trident 4194 on March 01, 2018, 04:39:47 PM
Tony has also been unwilling to provide PVRS which can be found out through the use of bus trackers, so I doubt that nx would provide such 'delicate information'.

Fleetnumbers wouldn't make a difference as you'd still see each buses individual icon on the map if the fleetnumbers were not visible so you could just count them, if someone wanted to find out a PVR this way they could just as easily stand at the road side for three hours and note down the buses! Given that a lot of services interwork anyway, especially at peaks, I think it'd be extremely difficult even using an app.

This appeared on my smartphone
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=https://www.expressandstar.com/news/business/2018/03/06/revolutionary-transport-app-set-to-go-live-in-west-midlands-next-month/&ved=0ahUKEwjg2aXkh9jZAhXEJVAKHZtNBioQxfQBCCEwAA&usg=AOvVaw17elc1Kz5OyfaoQHTrZbBO

Lets face it working PVRs out isn't that difficult where routes are their own cost centres, full timetables available on Traveline for frequent services and the odd minute given as layover.

Quote from: JoNi on March 06, 2018, 04:04:20 PM
This appeared on my smartphone
https://www.google.co.uk/url?sa=t&source=web&rct=j&url=https://www.expressandstar.com/news/business/2018/03/06/revolutionary-transport-app-set-to-go-live-in-west-midlands-next-month/&ved=0ahUKEwjg2aXkh9jZAhXEJVAKHZtNBioQxfQBCCEwAA&usg=AOvVaw17elc1Kz5OyfaoQHTrZbBO

Lets face it working PVRs out isn't that difficult where routes are their own cost centres, full timetables available on Traveline for frequent services and the odd minute given as layover.

Excuse the pun but sadly the app appears to be 'on a Whim' and not the 'revolution' made out to be...

NX Group Trading Statement issued this morning:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2018/national-express-group-plc-1q-trading-update/

More expansion

https://mailchi.mp/aac7e6dec350/national-express-group-wins-major-1-billion-moroccan-bus-contract-1132731

NX Half year results: "National Express has had another strong start to the year, delivering its best ever half year statutory profit, up 24% year-on-year. Our increasingly diversified portfolio has again delivered strong results and has entered a new phase of expansion in to complementary growth markets:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2018/half-year-results-for-the-period-ended-30-june-2018/

UK: grew by 21.5% to £31.6 million, boosted by £3.4 million of property disposals; underlying profit growth was 8.5%. (disposal - Sipson Road Depot?)

Targeted expansion through strategic acquisition and new market entries:

We have made 7 acquisitions in the period: 3 in ALSA and 4 in North America, consolidating our presence in existing core markets and expanding in to growth segments.
In July we won a significant 500 bus contract in Rabat, Morocco. We are now the largest public transport operator in Morocco.
Our new Geneva, Switzerland operations have grown very strongly, with our first acquisition – AlpyBus – growing revenue by 26.3% and profit by 33% in the first half. New summer tourist services have been launched.
Significant expansion in US charter and UK employee shuttle services, with new opportunities secured in the rapidly-growing Spanish cruise ship and urban minicab markets.
A new on-demand bus service due to start shortly in the West Midlands.

A few minibuses on the way?

Quote from: SL 16 YPN on July 26, 2018, 01:12:41 PM
A few minibuses on the way?

It seems that way, a number of bus companies seem to be heading the demand responsive way with Sprinters to stimulate growth

Quote from: Winston on July 26, 2018, 01:29:33 PM
It seems that way, a number of bus companies seem to be heading the demand responsive way with Sprinters to stimulate growth

Its the latest trend I guess but surely they can never be commercially viable?

Interesting the majority of NX's success involves operations outside of the UK - they have got the right idea.

Quote from: metrocity on July 27, 2018, 08:42:18 AM
Its the latest trend I guess but surely they can never be commercially viable?

Interesting the majority of NX's success involves operations outside of the UK - they have got the right idea.

I'd have thought that they must have the potential to be commercially viable to warrant the number of operators jumping on the band wagon. I assume they'll either compete with taxi's or have a set route or such like.

NX Group UK ops only account for a third of group revenue/turnover, they seem to have diversified their business well & there's clearly richer pickings abroad. Thus they are now continually beating profit expectations, hopefully it will continue as the grow carefully.

Edit:

@metrocity - There's a Premium Times article Interview with Dean Finch below (haven't seen it all myself), but a round-up posted on Railway Forums (post #8258) suggests that NX Group are interested in bidding for some of First UK Bus: https://www.railforums.co.uk/threads/firstgroup-improvement-shares-and-survival.65668/page-276#post-3566825/

Extract from article:

Asked whether he had any interest in the likely break-up of First Group, Mr Finch said he was under a "prohibition notice" from his board for such a deal. He said National Express might be interested in some of First's UK bus operations but not the whole business.

https://www.thetimes.co.uk/article/profits-go-up-a-gear-at-national-express-jbngwwscf

So I live in hope that one day NXWM could operate the 144  :)

Quote from: B.C Driver on July 28, 2018, 12:02:34 PM
So I live in hope that one day NXWM could operate the 144  :)

Who knows...... now Dean Finch has gone public with his interest in acquiring First UK Bus assets, it's now down to First Group BOD & Major Shareholders. I assume NX Group are most interested in the former PTE / larger ops with similar operating characteristics to NXWM i.e. Urban, high frequency routes etc First West Yorkshire / Glasgow / Bristol etc

The acquision of Stewart's of Reading and Woods of Leicester has been announced this morning

Quote from: Tony on September 13, 2018, 10:35:47 AM
The acquision of Stewart's of Reading and Woods of Leicester has been announced this morning

Is that internally / to trade press, can't see an RNS to London Stock Exchange (I assume too small)

Odd acquisitions.... part of wider plan maybe?

Quote from: Winston on September 13, 2018, 10:38:58 AM

Is that internally / to trade press, can't see an RNS to London Stock Exchange (I assume too small)

Odd acquisitions.... part of wider plan maybe?

Sensible acquisitions

Quote from: Straightlines on September 13, 2018, 10:48:29 AM
Sensible acquisitions

Care to expand? As you know so much...

They appear to be in to day trips / tours / holidays not something NX Group normally gets involved in, they do some corporate work as per Kings Ferry / Clarkes, but no commuter work that I can see.

Quote from: Tony on September 13, 2018, 10:35:47 AM
The acquision of Stewart's of Reading and Woods of Leicester has been announced this morning

A fairly recent Fleetlist here For Stewart Coaches of Reading, doesn't include the Woods Fleetlist for anyone interested:

http://www.buszone.co.uk/Stewarts.html

Reading Buses would make a good complemenatry acquisition, Stewarts Reading allocation could then be absorbed in to Great Knollys Street depot. 

According to the Woods website they are part of the Stewarts group of companies which have been aquired by Kings Ferry

https://www.woodscoaches.com/daytrips see bottom of page.

Quote from: broma1k on September 16, 2018, 06:03:33 PM
According to the Woods website they are part of the Stewarts group of companies which have been aquired by Kings Ferry

https://www.woodscoaches.com/daytrips see bottom of page.

The parent company Stewarts Coach Group Limited is what has been acquired which owns Stewarts Coaches, Reading & Woods Coaches, Leicester which was added in 2014.

Just found the announcement, Stewarts Coach Group will come under the management of Ian Fraser / The Kings Ferry Group as per Clarkes:
https://www.thekingsferry.co.uk/national-express-acquires-stewarts-coach-group
https://www.facebook.com/StewartsCoaches/posts/1890781371000802?__xts__[0]=68.ARCGn68LaLXOapmzZWWlcmVsyIEu8ynl4KdzvSUpgawILDO0bG4abYO_y7hs4utPhFzZ_8zsa1dAho-7hDQI9E4_FSCpT4Gx48KCbyDjSgRtuZXM1JMre71cxHLLcwBq2SpivGeBPVHQQabmsWNxSo5t0XkSh_oybyYVEr2Fu4FtlduOjukJ&__tn__=K-R

Quote from: Winston on September 16, 2018, 05:52:46 PM
A fairly recent Fleetlist here For Stewart Coaches of Reading, doesn't include the Woods Fleetlist for anyone interested:

http://www.buszone.co.uk/Stewarts.html

That fleetlist is well out of date. I don't think a single vehicle listed is still current.


I will be adding a fleetlist to the main site later, although it will not be an official company one. Just what I have as the current fleet of both companies

Quote from: Tony on September 16, 2018, 06:48:29 PM
That fleetlist is well out of date. I don't think a single vehicle listed is still current.

I will be adding a fleetlist to the main site later, although it will not be an official company one. Just what I have as the current fleet of both companies

The Excel file says it was last updated 09.07.18, it covers up to 17 plate Irizars i6's and doesn't appear that far off. Neither Stewart's or Woods appear to have had any 67 / 18 or 68 plate deliveries to date. I've noticed E200 YX11CNZ is now with Centrebus, there seems to be one 17 plate Irizar i6 missing off the list according to Bus lists of the web.

Be interesting to see how yours compares.

Quote from: Winston on September 16, 2018, 07:09:54 PM
The Excel file says it was last updated 09.07.18, it covers up to 17 plate Irizars i6's and doesn't appear that far off. Neither Stewart's or Woods appear to have had any 67 / 18 or 68 plate deliveries to date. I've noticed E200 YX11CNZ is now with Centrebus, there seems to be one 17 plate Irizar i6 missing off the list according to Bus lists of the web.

Be interesting to see how yours compares.

I was just going by the photos that it lists on the direct link.

Now I've called the spreadsheet up there are a lot of changes unrecorded there still

What I have as current is now listed here

http://wmbusphotos.com/NXWM/fleetlist/Stewarts.html

Didn't Woods coaches run buses at one time from st Margarets bus station in Leicester with blue minibuses years ago

Yes, they sold the bus ops to Centrebus.

3rd Quarter Trading Update:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2018/national-express-group-plc-trading-update/

Article on the American operation.
https://hispanicexecutive.com/2018/alejandro-castro-national-express/?fbclid=IwAR3EY7VpVvJVBTswwKi9ww_m6m_tDck6MpVW3S_oLakKDt19y3jqjOo0Id0

With 24,000 vehicles this is the size of 15 West Midlands Travels!

UK Bus & Coach is the smallest division within Group in terms of fleet size, ALSA also dwarfs the UK. 

NX are closing the gap on First Student, they have approx 40,000 school buses at First Student, down from the 60,000 when they acquired Laidlaw in 2007.

David Bradford promoted to MD of NXWM:
http://www.route-one.net/magazines/emag/routeone767/page_10.html

Things aren't going so well for NX Transit's operation of the Westmoreland Transit contract, they're being hit with fines for various failings by the local transit authority:
https://triblive.com/local/westmoreland/14390774-74/westmoreland-transit-hits-bus-operator-with-more-fines

Looks as though NX are continuing to sell & lease back bus depots, this time 2 at NXWM:

Using proceeds from the sale, LXi acquired two industrial properties in Birmingham and West Bromwich for GBP11.7 million, reflecting a 5.7% net initial yield.

The properties consist of two bus depots totalling 93,00 square feet and 102,000 square feet, including parking halls, workshops and refuelling areas.

The properties were acquired with new 25-year leases to West Midlands Travel Ltd, a subsidiary of FTSE 250-listed transport provider National Express Group PLC.

http://www.morningstar.co.uk/uk/news/AN_1546854770054613700/lxi-reit-signs-gbp75-million-loan-amid-buying-and-selling-activity.aspx

Quote from: Winston on January 08, 2019, 09:37:14 AM
Looks as though NX are continuing to sell & lease back bus depots, this time 2 at NXWM:

Using proceeds from the sale, LXi acquired two industrial properties in Birmingham and West Bromwich for GBP11.7 million, reflecting a 5.7% net initial yield.

The properties consist of two bus depots totalling 93,00 square feet and 102,000 square feet, including parking halls, workshops and refuelling areas.

The properties were acquired with new 25-year leases to West Midlands Travel Ltd, a subsidiary of FTSE 250-listed transport provider National Express Group PLC.

http://www.morningstar.co.uk/uk/news/AN_1546854770054613700/lxi-reit-signs-gbp75-million-loan-amid-buying-and-selling-activity.aspx

One is obviously WB, does anyone know what the other is? Maybe someone who knows what size each of the depots are can say?

Quote from: StourValley98 on January 08, 2019, 09:46:13 AM
One is obviously WB, does anyone know what the other is? Maybe someone who knows what size each of the depots are can say?

I don't know, but as this was quoted last week I suspect YW

"In other property news, we've had a number of surveyors at other depots over the last couple of weeks, particularly WB and YW. This is part of a programme to plan site enhancements over 2019 and 2020, enabling us to continue operating there for many years to come"

Why would nx sell something they own?

Quote from: SL 16 YPN on January 08, 2019, 04:09:46 PM
Why would nx sell something they own?

It raises capital and the landlord then becomes responsible for some repairs

Good year, last year for the whole group

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/full-year-results-for-the-year-ended-31-december-2018/

HSBC Analysts have reviewed the UK Transport Groups, NX Group is the one to retain a 'Buy' rating also with an increased share price target. All others are now 'Hold'

Plus a few interesting comments from HSBC's analysis:

"In terms of individual operators, HSBC reiterated its 'buy' rating and 475p target price on National Express, which has "the most obvious value" and a current share price that was "more than justified" from its existing business, with additional value also looking set to come in the form of mergers and acquisitions."

https://www.sharecast.com/news/broker-recommendations/uk-bus-and-rail-sector-running-out-of-steam-says-hsbc--3832950.html

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/NEX/14038583.html?fbclid=IwAR0_O5mnyAheGyWUrmcqKIhEqzJS5mgNaJCe-TM2YgNp2Cfrh98Z_d_kKdU

NX Group Trading Statement:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/national-express-group-plc-trading-update/

NX LLC in the US partnering with Kango through a strategic investment:

SAN FRANCISCO & LISLE, Ill.--(BUSINESS WIRE)--Kango, the award-winning app-based rideshare and childcare service for busy families, today announced a $3.6 million dollar Series A funding round. The round was led by a strategic investment from National Express, the premier transportation firm which operates a fleet of more than 25,000 vehicles, that includes serving 600 school districts in 30 states, and transporting 1.2 million students on a daily basis. As part of the funding agreement, David A. Duke from National Express is joining Kango's board.
https://www.businesswire.com/news/home/20190614005066/en/

https://www.worcesternews.co.uk/news/17739202.national-express-is-bidding-to-take-over-first-buses-county-operation/

Rumour mill???

Quote from: pb2012 on June 30, 2019, 08:47:55 AM
https://www.worcesternews.co.uk/news/17739202.national-express-is-bidding-to-take-over-first-buses-county-operation/

Rumour mill???

There's some decent First UK Bus ops potentially up for sale that share the same operating characteristics as NXWM i.e. high frequency, urban areas, former PTE & scale. Therefore, can't see any reason why NX Group wouldn't be interested in some, opportunities like that don't come along very often.

Bristol, Glasgow & West Yorkshire would be top of my target list, plus possibly Worcester & Leicester more locally.

Quote from: Winston on June 30, 2019, 11:20:54 AM
There's some decent First UK Bus ops potentially up for sale that share the same operating characteristics as NXWM i.e. high frequency, urban areas, former PTE & scale. Therefore, can't see any reason why NX Group wouldn't be interested in some, opportunities like that don't come along very often.

Bristol, Glasgow & West Yorkshire would be top of my target list, plus possibly Worcester & Leicester more locally.

All rumour at the moment - but could NX cherry pick the 'best' bits, whatever they might be?

Quote from: paulb1973 on June 30, 2019, 12:02:09 PM
All rumour at the moment - but could NX cherry pick the 'best' bits, whatever they might be?

Depends if the price is right! NX reckon Manchester was over priced

Quote from: Tony on June 30, 2019, 12:07:28 PM
Depends if the price is right! NX reckon Manchester was over priced

Manchester was in poor shape, the likes of Bristol, Glasgow & FWY are far more profitable & would come with much newer fleets.

Places like Worcester & Leicester would be an ideal locations to cascade the excess NXWM single decker's too.

Leicester still needs more double deckers too. Our buses are going left right and centre. How we haven't got a shortage of buses is beyond me. NX would be good for Leicester, but I think arriva will try and step in so they can control Leicester.

Quote from: LazyGuy222 on July 02, 2019, 10:38:20 PM
Leicester still needs more double deckers too. Our buses are going left right and centre. How we haven't got a shortage of buses is beyond me. NX would be good for Leicester, but I think arriva will try and step in so they can control Leicester.

I was referring to Leicester's B7L fleet which are long in the tooth now + the 05 plate B7RLE's... Arriva wouldn't be allowed to buy First Leicester & control the whole local bus market, CMA would block such a deal. Besides, Arriva themselves are up for sale & dependent on the final buyer, they could get broken up & sold off.

The B7Ls and B7RLEs are starting to be replaced by 59 reg RLEs from Bath. I didn't know arriva wouldn't be  allowed. Thanks some good information

Quote from: LazyGuy222 on July 02, 2019, 11:28:36 PM
The B7Ls and B7RLEs are starting to be replaced by 59 reg RLEs from Bath. I didn't know arriva wouldn't be  allowed. Thanks some good information

The 59 plates still aren't that much newer the 05 plates they replace. Arriva would control the majority of Leicester routes, other than Centrebus, there would be very little competition left.

Quote from: Winston on July 02, 2019, 10:47:11 PM
I was referring to Leicester's B7L fleet which are long in the tooth now + the 05 plate B7RLE's... Arriva wouldn't be allowed to buy First Leicester & control the whole local bus market, CMA would block such a deal. Besides, Arriva themselves are up for sale & dependent on the final buyer, they could get broken up & sold off.

There's an additional complication in Leicester. Wellglade own just over 6% of First Leicester unless they have sold out recently

Quote from: Tony on July 03, 2019, 06:22:21 AM
There's an additional complication in Leicester. Wellglade own just over 6% of First Leicester unless they have sold out recently

I believe they still do own the 6%

Quote from: Tony on July 03, 2019, 06:22:21 AM
There's an additional complication in Leicester. Wellglade own just over 6% of First Leicester unless they have sold out recently

That depends on how you look at it, Wellglade can't block any deal or really block any change with only on 6% shareholding. More importantly, it would build a relationship with Wellglade and you never know where that could lead in the future should they ever want to sell out.

Another good 6 months

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/half-year-results-for-the-period-ended-30-june-2019/

Quote from: Tony on July 25, 2019, 08:04:57 AM
Another good 6 months

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/half-year-results-for-the-period-ended-30-june-2019/

Another excellent set of results, the only one thing that jumps out at me, is net debt grew by +38% from £922.1 million to £1.2763 Billion. Net Debt is now back above 2009 levels again.

NX Pension deficit also rising:
https://www.pensionsage.com/pa/National-Express-DB-pension-deficit-rises-to-125m.php

Another major expansion in Casablanca

https://mailchi.mp/d131ae8e2263/major-1bn-bus-contract-caps-summer-of-success?e=b32bcb473f&fbclid=IwAR15d9ln31DtMslYpytqt_GuDtXdo-ZFNzeqZnA1N4w4zOUEtRV7E8STTIk

Quote from: Tony on October 16, 2019, 10:32:05 AM
Another major expansion in Casablanca

https://mailchi.mp/d131ae8e2263/major-1bn-bus-contract-caps-summer-of-success?e=b32bcb473f&fbclid=IwAR15d9ln31DtMslYpytqt_GuDtXdo-ZFNzeqZnA1N4w4zOUEtRV7E8STTIk

Surprised they released that today, as I believe NX are due to release a trading update tomorrow.

Trading Statement:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2019/national-express-group-plc-q3-trading-update/

Looks like selling this may have been another perfectly timed decision by the NX board

https://www.facebook.com/143666524748/posts/10158726734309749/

Quote from: Tony on February 11, 2020, 09:48:31 PM
Looks like selling this may have been another perfectly timed decision by the NX board

https://www.facebook.com/143666524748/posts/10158726734309749/

It seems like all Rail Operators are hitting the buffers.... the risk/reward ratio does not favour the operator.

NX set the precedence for exiting UK Rail - seems to be a nicely timed move!

I did wonder if Trenitalia were on the verge of dumping the West Coast franchise, there seems to have been very little change since the initial hyper-activity in removing all reference to Virgin. 

Quote from: mikestone on February 12, 2020, 09:26:27 PM
I did wonder if Trenitalia were on the verge of dumping the West Coast franchise, there seems to have been very little change since the initial hyper-activity in removing all reference to Virgin.

They missed the logos on the hot air balloons in the toilets!

I haven't had occasion to use one but I understand the talking toilets are gone. It does seem incredibly childish to have removed the where to find your seat posters.

Full Year Results:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/full-year-results-for-the-year-ended-31-december-2019/

Zero emission vision:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/national-express-group-sets-out-zero-emission-vision/

https://www.nationalexpressgroup.com/media/3941/national-express-full-year-results-presentation-2019.pdf
  Newlivery for electrics on this version of results.

Quote from: pb2012 on February 27, 2020, 10:39:09 AM
https://www.nationalexpressgroup.com/media/3941/national-express-full-year-results-presentation-2019.pdf
  Newlivery for electrics on this version of results.

And they have used an "up to date picture" of 6702 on the 900 on the back cover:-)

NX Group Announcement:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/covid-19-update/

Quote from: Winston on March 19, 2020, 12:30:02 PM
NX Group Announcement:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/covid-19-update/

What do you think Winston? Time to buy some shares in NX (& Go-Ahead for that matter)?

Quote from: MW on March 20, 2020, 12:58:12 AM
What do you think Winston? Time to buy some shares in NX (& Go-Ahead for that matter)?

I'd been buying Stagecoach as a recovery play for a while, as NX shares were getting expensive. I'd made two top ups earlier last week at 118p & 113p as markets were heading down, they're both worth -50% on what I paid for them right now, let alone my original SGC share purchases. They seem to be holding up better than the rest along with Rotala at present.

NX & Go-Ahead are both at 20% yields at the moment, but there's every likelihood dividends for 2020 will be deferred, cut or even halted to conserve cash. NX UK coach businesses have been hit hardest so far & could be hit even harder yet, their holidays / day trips / corporate & events work will have been vaporised overnight, plus a lot of their most lucrative coach routes serve airports - BA are parking planes up. All that will take some time to recover once we're out the other side. It largely depends how bad it all gets & for how long, worst case scenario large portions of fleets could be mothballed for months, also what financial support the transport industry will be given by the Government. Everything is very uncertain at the minute, even NX couldn't give any figures or guidance in today's announcement, as they don't know themselves. London is currently closing down, they're ahead of the rest of the country. The next few weeks slowing the spread are critical.

On the slightly positive side, The Cosmen's who NX acquired Spanish ALSA off, have increased their stake in NX in the last couple of days, they're obviously in the thick of things in Spain with ALSA currently:
https://www.lse.co.uk/rns/NEX/holdings-in-company-ja6zxwq66r9sl65.html

If you're considering buying at present, I would consider drip feeding funds, as they could yet go lower yet to average down. Bitcoin is currently less volatile than Transport Group shares. I certainly wouldn't touch First Group shares, they were struggling to sort the business out when times were good.

I suspect NX being so diversified globally will bounce back the quickest, they are also well managed and should be a good longterm purchase.

Off topic - but relative (Statement from Ensign Bus - makes grim reading)
https://www.ensignbus.com/

Trading Update:
https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/trading-update/

Market Update:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/market-update/

On top of the following:

'The Group has made significant progress to secure additional liquidity with approximately £1.3 billion in cash or undrawn committed facilities'

NX is also propsing an equity placing to issue up to 20% extra of the current issued share capital to raise cash for paying down existing debt:

Propsed Placing:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/proposed-placing-of-new-ordinary-shares/

Quote from: Winston on May 06, 2020, 11:03:32 AM
Market Update:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/market-update/

On top of the following:

'The Group has made significant progress to secure additional liquidity with approximately £1.3 billion in cash or undrawn committed facilities'

NX is also propsing an equity placing to issue up to 20% extra of the current issued share capital to raise cash for paying down existing debt:

Propsed Placing:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/proposed-placing-of-new-ordinary-shares/

Unlike the solid reserves of FirstGroup todays announcement to the city by NX shows the folly of over expanding coach operations that became so reliant on incoming tourism income flows.

When the cash cow money tree of National Express West Midlands wilts in a global pandemic NX has to run to the hills or more precisely the brokers to go cap in hand to raise money in the worst way financially possible proving to the city the sheer incompetence of its board.

The activities of the NX board today make FirstGroup look like a normal properly run company!

Quote from: WyreForestShuttle on May 06, 2020, 06:52:38 PM
Unlike the solid reserves of FirstGroup todays announcement to the city by NX shows the folly of over expanding coach operations that became so reliant on incoming tourism income flows.

When the cash cow money tree of National Express West Midlands wilts in a global pandemic NX has to run to the hills or more precisely the brokers to go cap in hand to raise money in the worst way financially possible proving to the city the sheer incompetence of its board.

The activities of the NX board today make FirstGroup look like a normal properly run company!

I presume you have no clue on the finances of National Express.

'over expanding coach operations'? - That is about 1% of national Express's income. Even NXWM is only a very small part of National Express Group and certainly not the cash cow

Quote from: WyreForestShuttle on May 06, 2020, 06:52:38 PM
Unlike the solid reserves of FirstGroup todays announcement to the city by NX shows the folly of over expanding coach operations that became so reliant on incoming tourism income flows.

When the cash cow money tree of National Express West Midlands wilts in a global pandemic NX has to run to the hills or more precisely the brokers to go cap in hand to raise money in the worst way financially possible proving to the city the sheer incompetence of its board.

The activities of the NX board today make FirstGroup look like a normal properly run company!

First Group will never be a properly run business, better off split up & sold off.

I think the placing has surprised quite a few & it was completed within four hours of announcing, it's clear NX have been expanding on the back of debt for some time....

Although NX's business portfolio is well diversified, their main businesses are located in some of the countries hardest hit by the pandemic inc US, UK & Spain - makes you wonder whether there's more bad news to come from NX.

Quote from: Tony on May 06, 2020, 07:11:52 PM
I presume you have no clue on the finances of National Express.

'over expanding coach operations'? - That is about 1% of national Express's income. Even NXWM is only a very small part of National Express Group and certainly not the cash cow

I may have no clue on the finances of NX but Moodys do and have downgraded NX from Stable to Negative using similar analysis to me.

Quote from: WyreForestShuttle on May 06, 2020, 09:03:56 PM
I may have no clue on the finances of NX but Moodys do and have downgraded NX from Stable to Negative using similar analysis to me.

You're not Richard in disguise are you. You're posts are so similar

Quote from: Tony on May 06, 2020, 09:47:50 PM
You're not Richard in disguise are you. You're posts are so similar

I think there was only one of those Tony my interest is in FirstGroup and its relationship to First Worcester and other bus companies.

Quote from: WyreForestShuttle on May 06, 2020, 10:34:37 PM
I think there was only one of those Tony my interest is in FirstGroup and its relationship to First Worcester and other bus companies.

Since NX Group's near collapse and Richard Bowker being replaced by Dean Finch I don't think there has been a single critisism of Board's decisions by the city.

Let's see what this money from the share issue is actually used for. I have seen the city announcement, but there has also been a staff notice.

Quote from: Tony on May 07, 2020, 08:06:12 AM
Since NX Group's near collapse and Richard Bowker being replaced by Dean Finch I don't think there has been a single critisism of Board's decisions by the city.

Let's see what this money from the share issue is actually used for. I have seen the city announcement, but there has also been a staff notice.

If you analyse the announcement to the City you can clearly see what the share placing is for. It would appear NX cash inflow wasnt able to service the level of debt long term.  The Balance Sheet currently holds items such as Pension Charges, Leases and to facilitate and recharge other loans currently charged to it and the share placing I would expect is to perhaps to allow NX to service; if necessary; the banking covenants attached to them. The net inflow of Capital has been used to shore up Balance Sheet in the light of extreme of operating circumstances and reduced cash inflows. Any criticism of the board is clearly reflected in the downgrade of the company to negative by the Credit brokers, the same as FirstGroup whose asset spread is much stronger than NX which together with the massive support for its rail franchises by DfT in the UK &  to Greyhound in USA by the federal authorities have left it in a much stronger position Balance Sheet wise to survive than NX.

"The reason we have therefore pursued this Placing is because, while there are still uncertain times ahead, we are also increasingly being presented with new opportunities to secure future growth. Customers and competitors are approaching us to see if we would like additional work in the future."

Quote from: Tony on May 07, 2020, 10:13:26 AM
"The reason we have therefore pursued this Placing is because, while there are still uncertain times ahead, we are also increasingly being presented with new opportunities to secure future growth. Customers and competitors are approaching us to see if we would like additional work in the future."

That is a statement you would fully expect on a press release. The NX press release is fully compliant however based on the supporting financial statements released to the city long term concerns have been raised about the company otherwise its credit rating would not have been downgraded from Stable to Negative. For what it is worth FirstGroup are the masters of spin on press releases about disastrous financial statements.

Quote from: WyreForestShuttle on May 07, 2020, 11:21:08 AM
That is a statement you would fully expect on a press release. The NX press release is fully compliant however based on the supporting financial statements released to the city long term concerns have been raised about the company otherwise its credit rating would not have been downgraded from Stable to Negative. For what it is worth FirstGroup are the masters of spin on press releases about disastrous financial statements.

Any credit downgrade for NX is certainly not good news, you would expect a placing to cut debt levels to have a positive effect on credit rating. The shareprice has also now gone below the placing price and I fear those investors who paid 240-475p / NEX share pre Covid will not see it as positive move, they've now also been diluted by a further 20% on top of the pandemic market crash.

The other thing where NX stands apart from all other UK based transport groups, is the amount of cash or undrawn committed facilities NX have amassed, now up to £1.3 billion + £235 million raised via a placing & I believe they're also the only Transport Group to tap the UK Government for the Coronavirus Business Interruption Loan Scheme (CBILS).

I guess we'll have to watch this space with interest to see what unfolds...... There must be some big acquisition/expansion opportunities to need that size of war chest going forward.

Six of the largest private transit operating firms—First Transit, Keolis, MV Transportation, National Express, RATP Dev USA and Transdev—have come together to form the North American Transit Alliance (NATA).
https://www.railwayage.com/passenger/transit-operators-team-to-form-north-american-transit-alliance/

Dean Finch has resigned from NX Group & will be leaving towards the end of this year:
https://tools.euroland.com/tools/Pressreleases/GetPressRelease/?ID=3784557&lang=en-GB&companycode=uk-nex&v= :)

NX Half Year results released yesterday (Thurs) to 30th June 2020:

Turnover covering lockdown vs the same period last year actually only fell by 22% from £1.34 Billion to £1.03 Billion

However, profits before tax during the same period fell from a +£114.6 million profit to a -£60.7 million loss (a fall of £175.3 million or -152.6%)

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2020/half-year-results-for-the-period-ended-30-june-2020/

Dean Finch is now leaving NX early, i.e. in 11 days time 31st August, the group CFO will now take over as interim CEO from 1st Sept whilst they find a replacement: 
https://www.londonstockexchange.com/news-article/NEX/further-announcement-on-board-changes/14658406

NX FY Results:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2021/national-express-group-plc-full-year-results-for-the-year-ended-31-december-2020/

NX Group Trading Update:

https://www.nationalexpressgroup.com/newsmedia/corporate-news/2021/trading-update/

U.K. Bus Group National Express Said to Weigh Bid for Stagecoach

https://www.bloombergquint.com/business/u-k-bus-group-national-express-said-to-weigh-bid-for-stagecoach

Quote from: DJ on September 21, 2021, 12:22:42 AM
U.K. Bus Group National Express Said to Weigh Bid for Stagecoach

https://www.bloombergquint.com/business/u-k-bus-group-national-express-said-to-weigh-bid-for-stagecoach

Wait, what? That's coming a bit out of left field!

Quote from: DJ on September 21, 2021, 12:22:42 AM
U.K. Bus Group National Express Said to Weigh Bid for Stagecoach

https://www.bloombergquint.com/business/u-k-bus-group-national-express-said-to-weigh-bid-for-stagecoach

Maybe your beachball E400 in Dudley photoshop could be come reality...

This message has gone out from their CEO on Stagecoach's internal app thingamajig, which confirms it.

(https://i.imgur.com/RFSeahm.png)

Here's the link to the statement, so that you don't need to type it out: http://otp.investis.com/clients/uk/stagecoach/rns/regulatory-story.aspx?cid=273&newsid=1510258

NX Group Capital Markets Day Presentation, worth a listen if you have a spare 90 mins... gives futures prospects for the group at each division including benefits of the potential Stagecoach Group takeover:
http://www.nationalexpressgroup.com/investors/capital-markets-day-2021/

New NX announcement over Stagecoach

https://mcusercontent.com/7b2dd0ca4bda55d26ae0fd8d8/files/3ffb4e2f-97f3-e77b-9521-393aea2100c5/220317_Final_Announcement.pdf

Quote from: Tony on March 17, 2022, 08:04:02 AM
New NX announcement over Stagecoach

https://mcusercontent.com/7b2dd0ca4bda55d26ae0fd8d8/files/3ffb4e2f-97f3-e77b-9521-393aea2100c5/220317_Final_Announcement.pdf

The issue with NX Groups offer, shareholders may well prefer all cash which is guaranteed now rather than new NX shares.

The document also puts forward different shareprice scenario's / Stagecoach valuations based on previous NX Group share prices, there will be a lot more share in issue should the NX offer proceed and the market may not necessarily value the new enlarged NX Group on the same basis as it currently does. Therefore, past NX Group shareprices highs are historical only.   

NX Group Q1 Trading Update:

https://www.nationalexpressgroup.com/media/news-releases/2022/q1-trading-update/

NX Group Half Year report:
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4140977&lang=en-GB&companycode=uk-nex&v=2021

Is Group revenue is looking good does that mean more people using buses/ coaches? 

Interesting it states130 zero emission vehicles will be in service"by the end of this year" More than I was expecting by then.

Quote from: cardew on July 28, 2022, 04:52:49 PMInteresting it states130 zero emission vehicles will be in service"by the end of this year" More than I was expecting by then.

All for coventry hopefully :)

It's been fairly well documented that Coventry were having 130 electrics this year

NX Group Trading Statement:

https://www.investegate.co.uk/article.aspx?id=202210200700034762D

The latest issue of CBW as an article about NX coach's trailing wingless coaches.  But this tech is not really new as NX already uses it on its bus fleet. 

Quote from: Tony on May 07, 2020, 10:13:26 AM"The reason we have therefore pursued this Placing is because, while there are still uncertain times ahead, we are also increasingly being presented with new opportunities to secure future growth. Customers and competitors are approaching us to see if we would like additional work in the future."

What happened to the £235 million equity fund raising from April 2020 that was meant to be used for post Covid opportunities out of interest?

It would be good to see NX grow in the UK bus market but with the shrinkage in the Midlands and exit of Dundee it appears to be heading in the opposite direction

Quote from: metrocity on December 12, 2022, 08:58:29 PMWhat happened to the £235 million equity fund raising from April 2020 that was meant to be used for post Covid opportunities out of interest?

It would be good to see NX grow in the UK bus market but with the shrinkage in the Midlands and exit of Dundee it appears to be heading in the opposite direction

It appears it was only used to pay down debt. 

NX obviously took on the former Yellow Buses depot in Bournemouth, but only the lease as it's owned by the council IIRC - not sure there's still many coaches based there. 

The NX shareprice was £4.40+ before the 2020 Covid crash, now it's barely above £1.50 & there's 20% more shares in issue now since that fundraising. 

The new CEO doesn't seem to have done a lot to date, been in the post over 2 years now.

NX Group shares not so long ago down 7% on the day, recorded a 12 month low of 142.8p, NX Group Mkcap has now fallen to circa £875 million

NX Group shares still heading south setting new 24 month lows on profit growth & debt concerns following two Broker downgrades Thurs & Friday last week.

NX Group is currently in danger of losing it's No 1 spot for most valuable UK listed Transport Group to First Group:

NX Mkcap £785 million @ 128.4p/share
First Group Mkcap £764 million @ 102.3p/share

NX Group have won a 10 year contract to operate two German rail lines RE1 & RE11 Rhein-Ruhr-Express (RRX) that they've been operating on an emergency contract since Feb 2022:
https://www.nationalexpressgroup.com/media/news-releases/2023/1-billion-german-rail-contract-award/

NX Group has lost its No 1 spot for the most valuable UK listed Transport Group to First Group after falling 6% today:
 
NX Mkcap £785.4 million @ 127.9p/share
First Group Mkcap £835.7 million @ 111.4p/share
 
NX was worth £2 Billion+ MkCap before the ill fated Covid Cash call & has paid no shareholder dividends in 3 years.

NX Group shares still heading south setting new 24 month lows

NX Mkcap now under £750 million @ 121p/share

https://www.defenseworld.net/2023/02/23/national-express-group-lonnex-reaches-new-52-week-low-at-123-00.html

Quote from: winston on February 22, 2023, 11:13:58 AMNX Group shares still heading south setting new 24 month lows

NX Mkcap now under £750 million @ 121p/share

https://www.defenseworld.net/2023/02/23/national-express-group-lonnex-reaches-new-52-week-low-at-123-00.html

Hopefully NX Group will sort themselves out.

I think they need to claw back routes lost to SC with some aggressive business plans - just like SC are doing to other operators.

Take Coventry as an example. NXC recently gave up on running the 3 from WSP to the hospital and this was a bad business mistake in my view. The SC 60 that replaced it is doing quite well in pass no's from what I see. Modern comfy buses and drivers generally are polite & helpful. If it carries on this way demand could need a 30 min frequency in my view? NXC should never had let this happen and should fight to run the 60 if they want to survive. I wonder if NXC has gone soft on their home patch?

Sorry for the rant and not ment to wind people up.

Quote from: Sandy Lane on February 27, 2023, 02:47:13 PMHopefully NX Group will sort themselves out.

I think they need to claw back routes lost to SC with some aggressive business plans - just like SC are doing to other operators.

Take Coventry as an example. NXC recently gave up on running the 3 from WSP to the hospital and this was a bad business mistake in my view. The SC 60 that replaced it is doing quite well in pass no's from what I see. Modern comfy buses and drivers generally are polite & helpful. It it carries on this way demand could need a 30 min frequency in my view? NXC should never had let this happen and should fight to run the 60 if they want to survive. I wonder if NXC has gone soft on their home patch?

Sorry for the rant and not ment to wind people up.

NX Group Full Year Results will be released this Thursday 2nd March - might give some ideas on progress & plans moving forward.

NXC along with WA were the garages suffering the highest driver shortages.

Quote from: Sandy Lane on February 27, 2023, 02:47:13 PMHopefully NX Group will sort themselves out.

I think they need to claw back routes lost to SC with some aggressive business plans - just like SC are doing to other operators.

Take Coventry as an example. NXC recently gave up on running the 3 from WSP to the hospital and this was a bad business mistake in my view. The SC 60 that replaced it is doing quite well in pass no's from what I see. Modern comfy buses and drivers generally are polite & helpful. If it carries on this way demand could need a 30 min frequency in my view? NXC should never had let this happen and should fight to run the 60 if they want to survive. I wonder if NXC has gone soft on their home patch?

Sorry for the rant and not ment to wind people up.

That section of the 3 was a TfWM Tender. If it had done well enough then I am sure NXC would have run it commercially. NXC obvioulsy decided to concentrate drivers and resourseces on the commercial network.

Quote from: D10 on February 28, 2023, 09:04:41 PMThat section of the 3 was a TfWM Tender. If it had done well enough then I am sure NXC would have run it commercially. NXC obvioulsy decided to concentrate drivers and resourseces on the commercial network.

and that's my point - SC seems so far to be doing quite well with pass numbers. NXC loss is SC gain

Quote from: Sandy Lane on February 27, 2023, 02:47:13 PMHopefully NX Group will sort themselves out.

I think they need to claw back routes lost to SC with some aggressive business plans - just like SC are doing to other operators.

Take Coventry as an example. NXC recently gave up on running the 3 from WSP to the hospital and this was a bad business mistake in my view. The SC 60 that replaced it is doing quite well in pass no's from what I see. Modern comfy buses and drivers generally are polite & helpful. If it carries on this way demand could need a 30 min frequency in my view? NXC should never had let this happen and should fight to run the 60 if they want to survive. I wonder if NXC has gone soft on their home patch?

Sorry for the rant and not ment to wind people up.

Was the change to the 3 not due to the road works on binley road

Quote from: Coventrybususer95 on March 01, 2023, 01:37:33 PMWas the change to the 3 not due to the road works on binley road

possibly. The 3 uses only a short section on the Binley Rd and the roadworks haven't got there yet. It's a new cycleway coming out of town.

I think NXC meant the delays that will happen when these roadworks go further onto Clifford Bridge Rd but I guess that is a few months away?

Quote from: Sandy Lane on March 01, 2023, 06:19:35 PMpossibly. The 3 uses only a short section on the Binley Rd and the roadworks haven't got there yet. It's a new cycleway coming out of town.

I think NXC meant the delays that will happen when these roadworks go further onto Clifford Bridge Rd but I guess that is a few months away?

Can any further discussion on this subject carry on on a more appropriate topic please

NX Group Full Year Results:
https://www.nationalexpressgroup.com/investors/results-reports-and-presentations/2022/

Quote from: winston on March 02, 2023, 07:22:39 AMNX Group Full Year Results:
https://www.nationalexpressgroup.com/investors/results-reports-and-presentations/2022/

Interesting reading 

Convince me I'm wrong that for every extra day that NX allow the West Mids bus strike to go on for is damaging their reputation and a poor reflection on NX management?
Could NX be turning out to be the Avanti Trains of the bus operators?

Quote from: Sandy Lane on March 22, 2023, 11:10:04 AMConvince me I'm wrong that for every extra day that NX allow the West Mids bus strike to go on for is damaging their reputation and a poor reflection on NX management?
Could NX be turning out to be the Avanti Trains of the bus operators?

Makes you wonder if a sale is slowly coming along

Quote from: Sandy Lane on March 22, 2023, 11:10:04 AMConvince me I'm wrong that for every extra day that NX allow the West Mids bus strike to go on for is damaging their reputation and a poor reflection on NX management?
Could NX be turning out to be the Avanti Trains of the bus operators?

Hopefully back to normal next week?
Wonder if NX management will have any ideas to bring their passengers back? Cheaper or even free fares for a few days or so?

I think getting the buses to actually all run and to timetable would be a thing the public would appreciate, given the last few months.

Quote from: Sandy Lane on March 25, 2023, 10:00:38 AMHopefully back to normal next week?
Wonder if NX management will have any ideas to bring their passengers back? Cheaper or even free fares for a few days or so?

Normal service is due to start on Monday...we hope.

Interesting NX Group Analysis by Simply WallSt:

Investors in National Express Group (LON:NEX) have unfortunately lost 67% over the last five years (https://uk.sports.yahoo.com/news/investors-national-express-group-lon-055941728.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAEWvWj1g2v9UoGZC5kE9jYFJgpMdQZL-NwTOroCUgQWw89Ni3pxRY_37k00NzvkeYBb3YXHmrPl7gORTSTu489xhW3GfKQZqXN8jD7VqMUxhIpu_i3M3C0_s4rjGlptMy4PXo8eKnf6yqLasNbbEmaY2iNeaH7NqYvrNcWl3ycym)

NX Group Q1 Trading Update:
https://www.nationalexpressgroup.com/media/news-releases/2023/q1-trading-update/

National Express Group are changing their name to Mobico Group from early June:
https://www.nationalexpressgroup.com/media/news-releases/2023/change-of-name/

MOBICO boardroom must bored 

Return of West Midlands Travel as a brand potentially?

Quote from: BK63 YWP on May 10, 2023, 11:40:45 AMReturn of West Midlands Travel as a brand potentially?

I've read that buses and coaches will keep the national express identity and it's just the group changing name

Quote from: 2900 on May 10, 2023, 10:40:24 AMMOBICO boardroom must bored

There's certainly far more pressing issues they should be worrying about it, rather than the name of the group. 

NX Group shareprice is continuing its decent, now down to 105.6p, Mkt Cap now just under £650 million. 

What's the point of a group name and brand change if the individual components of the group retain their exisisting brand names? Who are the changes intended to influence? NX aren't doing it for fun. As for Mobico what's that all about? 
Given that this is happening at a time when the group's share price is heading for the basement can't help wondering if there is more to this than meets the eye.

Quote from: RW on May 31, 2023, 05:27:04 PMWhat's the point of a group name and brand change if the individual components of the group retain their exisisting brand names? Who are the changes intended to influence? NX aren't doing it for fun. As for Mobico what's that all about?
Given that this is happening at a time when the group's share price is heading for the basement can't help wondering if there is more to this than meets the eye.

I feel like a sale is slowly happening and the name change is just the start

Quote from: RW on May 31, 2023, 05:27:04 PMWhat's the point of a group name and brand change if the individual components of the group retain their exisisting brand names? Who are the changes intended to influence? NX aren't doing it for fun. As for Mobico what's that all about?
Given that this is happening at a time when the group's share price is heading for the basement can't help wondering if there is more to this than meets the eye.

The reasoning for the groups name change was in the stockmarket announcement:

https://www.nationalexpressgroup.com/media/news-releases/2023/change-of-name/

The National Express name is known for its white UK coach network, it no longer reflects the Groups International multimodal businesses which are far large than their UK operations these days. 

National Express Group Plc has been renamed Mobico Group Plc as of today:
https://www.mobicogroup.com/media/news-releases/2023/change-of-name-1/

NEX shares will start trading under the MCG ticker as of 8am tomorrow.

New Group website:
https://www.mobicogroup.com/

The Group name change hasn't done anything for the shareprice, now at a new 3 year low circa 98p (£601 million Mkcap). 

Quote from: winston on June 30, 2023, 03:03:11 PMThe Group name change hasn't done anything for the shareprice, now at a new 3 year low circa 98p (£601 million Mkcap).

Good time to top up. No?

Quote from: MW on June 30, 2023, 03:27:56 PMGood time to top up. No?

I have actually had a top up today at 98.5p, plus I had ones at 124p & 153p, all thinking it was a good time to top up, but it's still going down.... 

Half Year results are due 27th July, they'll need to announce some exceptional profit growth, debt reduction + a new large contract win to turnaround this current downtrend.....🤔

Quote from: winston on June 30, 2023, 06:50:27 PMI have actually had a top up today at 98.5p, plus I had ones at 124p & 153p, all thinking it was a good time to top up, but it's still going down....

Half Year results are due 27th July, they'll need to announce some exceptional profit growth, debt reduction + a new large contract win to turnaround this current downtrend.....🤔

Could we see nxwm/nxc go up for sale if no profit is made from the fare increase?

Quote from: Coventrybususer95 on June 30, 2023, 07:01:39 PMCould we see nxwm/nxc go up for sale if no profit is made from the fare increase?

The NXWM fare increases won't be reflected in the Half Year results due 27th July. 

Quote from: winston on June 30, 2023, 07:31:45 PMThe NXWM fare increases won't be reflected in the Half Year results due 27th July.

Trust me, once the results are published, the local media rags will be telling their unsuspecting readership about how NXWM are making millions of pounds in profit while bus fares go up despite a "cost of living crisis". :rolleyes:

There's an agenda at play and it is all about conditioning people to become more welcoming of 'bus franchising' proposals.

Quote from: MW on June 30, 2023, 03:27:56 PMGood time to top up. No?

As I was saying, NX Group shareprice still continuing its decent to new multiyear lows, now 94p (£577 million Mkcap)

Quote from: winston on July 06, 2023, 09:40:22 PMAs I was saying, NX Group shareprice still continuing its decent to new multiyear lows, now 94p (£577 million Mkcap)

That's bad right?

Quote from: winston on July 06, 2023, 09:40:22 PMAs I was saying, NX Group shareprice still continuing its decent to new multiyear lows, now 94p (£577 million Mkcap)

Topped up at 96.05p, a few hours earlier!

Quote from: MW on July 06, 2023, 09:58:43 PMTopped up at 96.05p, a few hours earlier!

I can't seeing it going much lower, but I didn't expect it to go to £1 or under either...

I think a lot of US shareholders have been dumping UK stocks, not just NX, but their debt pile will not be doing them any favours. Half Year results are due 27th July. 

Mobico Group Half Year report: 
https://www.mobicogroup.com/investors/results-reports-and-presentations/2023/

Did I see that the Nxwm and another guy have been pushed out based on the results, can't remember where I saw it? 

Quote from: monkeyjoe on July 28, 2023, 05:00:36 PMDid I see that the Nxwm and another guy have been pushed out based on the results, can't remember where I saw it?

Tom stables and David Bradford

Information from route-one.net

Quote from: monkeyjoe on July 28, 2023, 05:00:36 PMDid I see that the Nxwm and another guy have been pushed out based on the results, can't remember where I saw it?

You did.  The CEO of NX UK and Germany and, notably, David Bradford the NXWM MD have left.  Route One may have reported it first - https://www.route-one.net/news/tom-stables-and-david-bradford-leave-national-express/.

Business Live (https://www.business-live.co.uk/enterprise/two-national-express-senior-executives-27415066) has reported that NX is bringing the bus and coach divisions brought under one senior leadership team, and that both gentlemen decided to leave.

I doubt we'll see any further strike action soon, as Unite will look silly if they try to roll out their "millions of pounds in profit" claim again as a stick to beat NX with.

Quote from: Stu on July 28, 2023, 06:46:36 PMI doubt we'll see any further strike action soon, as Unite will look silly if they try to roll out their "millions of pounds in profit" claim again as a stick to beat NX with.

well it took 40 years to strike this year, plus i got the memories from this years strike which will live long in the memory 

Quote from: 2900 on July 31, 2023, 10:52:52 AMwell it took 40 years to strike this year, plus i got the memories from this years strike which will live long in the memory

1992 was the last strike two Saturdays 

Mobico shareprice hitting new all-time lows of 80.75p, Mkt Cap now under £500 million

Mobico have released their 3rd Quarter Trading update:

- Profit recover will be slower than previously expected
- Preparing North America school bus unit for sale to reduce debt
- Closing down two NX Transport Solutions depots
- FY dividend suspended

https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4389921&lang=en-GB&companycode=uk-nex&v=r2023

Mobico shares currently top of the losers leader board down 32% at 58p/Share, Group Mkt Cap now well under £400 million

https://simplywall.st/stocks/gb/transportation/lse-mcg/mobico-group-shares/news/mobico-group-lonmcg-investor-five-year-losses-grow-to-76-as

Quote from: winston on October 12, 2023, 07:45:33 AMMobico have released their 3rd Quarter Trading update:


- Closing down two NX Transport Solutions depots

Gillingham  and Sydenham, staff told today.
Scheduled services operated by Clarke's from Sydenham have already transferred to NX London at Wandsworth.
Gillingham is one of the Kings Ferry bases, along with Dover, which will continue to run 007 and 022 services.

Quote from: winston on October 12, 2023, 07:45:33 AMMobico have released their 3rd Quarter Trading update:

- Profit recover will be slower than previously expected
- Preparing North America school bus unit for sale to reduce debt
- Closing down two NX Transport Solutions depots
- FY dividend suspended

https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4389921&lang=en-GB&companycode=uk-nex&v=r2023

They are in real trouble - watch this space 

Quote from: Smethwickian on October 12, 2023, 06:44:39 PMGillingham  and Sydenham, staff told today.
Scheduled services operated by Clarke's from Sydenham have already transferred to NX London at Wandsworth.
Gillingham is one of the Kings Ferry bases, along with Dover, which will continue to run 007 and 022 services.

Clarkes NX scheduled coach services moved to Wandsworth from 9th Oct.

I assume KF Dover base will be managed by another NX subsidiary.

Clarkes also have an outstation at West Drayton on their license:
CCH, Sipson Road, West Drayton, UB7 0HN, GB (10 Vehicles)

Quote from: metrocity on October 12, 2023, 07:16:15 PMThey are in real trouble - watch this space

Its certainly not looking good.... a repeat of 2009??

Quote from: metrocity on October 12, 2023, 07:16:15 PMThey are in real trouble - watch this space

I topped up my shares today 👀

Quote from: MW on October 12, 2023, 08:05:28 PMI topped up my shares today 👀

You may come to regret that yet - its still like catching a falling knife...  The trend is your friend & the trend is down. 

- In 3 months since HY results we've gone from confident on profit guidance, to guidance being slashed
- Confident profits growth alone would pay down debt, to preparing US School Bus divison for disposal (which generates substantial group profit)
- FY dividend cancelled
- NETS is one big mess, with a multitude of liveries & brands spread around various NETS subsidiaries including new allover white Tourismo's. 
The NETS fleet numbering is a mess even after a second attempt at a numbering system, there's various coaches still carrying up to 3 different fleet numbers. 

To be honest, I don't get why National Express don't just move all their fleets into a single fleet numbering system, similar to Stagecoach and First, as you've got TKF E400Cities (the ones on sublease for the Harry Potter contract to Mullanys) in the WM sequence, some of the NX coaches in the WM sequence, NEAT has its own sequence and then there's the mess that's the NETS sequence.

Quote from: the trainbasher on October 12, 2023, 10:38:36 PMTo be honest, I don't get why National Express don't just move all their fleets into a single fleet numbering system, similar to Stagecoach and First, as you've got TKF E400Cities (the ones on sublease for the Harry Potter contract to Mullanys) in the WM sequence, some of the NX coaches in the WM sequence, NEAT has its own sequence and then there's the mess that's the NETS sequence.

You also have Woods at Wigston with NETS fleet numbers, then Woods NX coaches at Aston & Park Lane with WMT fleetnumbers, but Woods Aston NETS coaches have NETS fleet numbers.....
Numerous coaches still carry LA2** or SH2** fleet numbers as well as there WMT or NETS fleet numbers. 

Quote from: winston on October 12, 2023, 11:09:43 PMYou also have Woods at Wigston with NETS fleet numbers, then Woods NX coaches at Aston & Park Lane with WMT fleetnumbers, but Woods Aston NETS coaches have NETS fleet numbers.....
Numerous coaches still carry LA2** or SH2** fleet numbers as well as there WMT or NETS fleet numbers.

Got 4986 here and even that carries EK09 as well

Do you think further asset stripping will occur?

Quote from: Rachvince53 on October 13, 2023, 04:05:06 PMDo you think further asset stripping will occur?

Could we see the sale of NATS or NEAT to help recover loses 

Quote from: Rachvince53 on October 13, 2023, 04:05:06 PMDo you think further asset stripping will occur?

Quote from: Coventrybususer95 on October 13, 2023, 04:36:01 PMCould we see the sale of NATS or NEAT to help recover loses

I would think it more likely that the UK Bus division could be offloaded, especially if the new management can't turn around their fortunes. But really in the current climate, who would want to takeover NX West Midlands and Coventry?

Realistically, I think they'll sit tight and wait to see what happens with bus franchising here.

QuoteI would think it more likely that the UK Bus division could be offloaded, especially if the new management can't turn around their fortunes. But really in the current climate, who would want to takeover NX West Midlands and Coventry?

Realistically, I think they'll sit tight and wait to see what happens with bus franchising here.

Before the purchase of Stagecoach by their current owners, i would have said them, as Souter always wanted NX Bus/operations in Brum.

Quote from: BN on October 13, 2023, 03:51:07 PMGot 4986 here and even that carries EK09 as well

TKF 49125 only carries EK12, it doesn't even carry its current fleetnumber.

Lucketts still number their coaches in their old format i.e. Worthing Coaches 55-60-55 instead of 5560, plus there's numerous existing Lucketts coaches displaying X560556 on the front & X5605 above the front windscreen.

Based on the mess that is the NETS fleet numbering, I'm assuming that is also why attempting to bring all day trip & holidays across NETS together under the 'Touromo' Brand has also failed miserably.

Quote from: the trainbasher on October 13, 2023, 06:26:09 PMBefore the purchase of Stagecoach by their current owners, i would have said them, as Souter always wanted NX Bus/operations in Brum.

If Stagecoach did still want a West Midlands based operation & a Birmingham depot, they could make an offer for Rotala Group.

Quote from: Rachvince53 on October 13, 2023, 04:05:06 PMDo you think further asset stripping will occur?

Rather than sell their US School Bus operation at a time when it isn't very profitable, I think Mobico should consider a friendly merger with First Group, this would give Mobico the scale in UK Bus & First Group are also debt free.

Quote from: winston on October 13, 2023, 06:34:25 PMTKF 49125 only carries EK12, it doesn't even carry its current fleetnumber.

Lucketts still number their coaches in their old format i.e. Worthing Coaches 55-60-55 instead of 5560, plus there's numerous existing Lucketts coaches displaying X560556 on the front & X5605 above the front windscreen.

Based on the mess that is the NETS fleet numbering, I'm assuming that is also why attempting to bring all day trip & holidays across NETS together under the 'Touromo' Brand has also failed miserably.
If Stagecoach did still want a West Midlands based operation & a Birmingham depot, they could make an offer for Rotala Group.
Rather than sell their US School Bus operation at a time when it isn't very profitable, I think Mobico should consider a friendly merger with First Group, this would give Mobico the scale in UK Bus & First Group are also debt free.

Wouldn't that be a problem with one of the rail franchises having Firstgroup involvement? 

Quote from: Rachvince53 on October 13, 2023, 08:15:56 PMWouldn't that be a problem with one of the rail franchises having Firstgroup involvement?

Which rail franchises? 

Quote from: winston on October 13, 2023, 08:29:31 PMWhich rail franchises?

First operates four franchises – Avanti West Coast (70%), Great Western Railway (GWR), South Western Railway (SWR) (70%) and open access passenger service, Hull Trains.

Quote from: busfan2847 on October 13, 2023, 09:08:16 PMFirst operates four franchises – Avanti West Coast (70%), Great Western Railway (GWR), South Western Railway (SWR) (70%) and open access passenger service, Hull Trains.

Yes, I know. But they're mostly just management contracts. 

I don't see where there would be an issue, unless you're referring to NX Coach routes & potential competition issues? 

Quote from: busfan2847 on October 13, 2023, 09:08:16 PMFirst operates four franchises – Avanti West Coast (70%), Great Western Railway (GWR), South Western Railway (SWR) (70%) and open access passenger service, Hull Trains.

And Open access Lumo

The Cosmens have increased their stake in Mobico Group by +1% to 13.04%

https://www.londonstockexchange.com/news-article/MCG/holding-s-in-company/16240540

Interestingly, they're increasing their stake now, but chose not to take part in the 2020 Covid Placing at 230p, seems like a good move.... 

Mobico senior executives have once again rattled the stock market by delaying FY results due to 'accounting judgments' in the German Rail business:
https://www.ft.com/content/f2730420-fbda-499c-ab4c-a64a36893f3a

Alex Jenson on UK bus & coach strategy:
https://www.route-one.net/news/data-and-investment-a-work-in-progress-for-national-express/

https://www.thetimes.co.uk/article/mobico-delays-reporting-again-to-review-german-accounts-rz7jrqhwt

Quote from: Wolves256 on March 26, 2024, 08:16:00 PMhttps://www.thetimes.co.uk/article/mobico-delays-reporting-again-to-review-german-accounts-rz7jrqhwt

Yes, the Mobico CEO & CFO are rapidly proving themselves to be completely incompetent & out of their depth.... many investors now have no confidence in them! 

Initially at the HY results end of July 2023, they stated the 'Evolve Strategy' was working, confirmed profit forecasts, confirmed an interim dividend & said that the 'Evolve' growth would be sufficient to start to pay down the massive group debt without disposals. 3 months later by October 2023, we had our first profits warning, interim dividend cancelled & entire US school division being prepared for sale. Then in February 2024 we had another profits warning along with FY results being delayed & a revised date set. March 2024, they have missed their own revised results date, issued another profits warning & put it back to late April. Its anyone's guess if that will actually happen......

Poor results from Mobico this morning after numerous delays & missing their own EBIT targets:

FY Results 2023: 
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4505169&lang=en-GB&companycode=uk-nex&v=r2023

Q1 Trading Update:
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4505170&lang=en-GB&companycode=uk-nex&v=r2023

CFO James Stamp has also fallen on his sword:
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4505175&lang=en-GB&companycode=uk-nex&v=r2023

Group share price down to new all time lows of 54p valuing entire group at just £331 million. 

Quote from: winston on April 22, 2024, 11:47:07 AMPoor results from Mobico this morning after numerous delays & missing their own EBIT targets:

FY Results 2023:
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4505169&lang=en-GB&companycode=uk-nex&v=r2023

Q1 Trading Update:
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4505170&lang=en-GB&companycode=uk-nex&v=r2023

CFO James Stamp has also fallen on his sword:
https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4505175&lang=en-GB&companycode=uk-nex&v=r2023

Group share price down to new all time lows of 54p valuing entire group at just £331 million.

While certainly not a great year over the whole group, reading the report for the U.K. bus and coach operations makes far more positive reading - return to 98% pre-Covid passenger numbers is amazing really compared to the situation just 2 years ago, and I doubt many other U.K. operators have regained passengers to that level so far.

Also, the big cost in this area was the 16% driver wage increase costing £130 million from last January. Looking forwards, such a one off dent in profitability won't likely happen this year so overall profitability should be pretty good in the UK market. If NX can shed some of the excess baggage in other areas of the business, the UK operations should provide a decent area for growth for the company and hopefully a potential merger with First which I believe would suit both companies.

Quote from: j789 on April 22, 2024, 05:32:33 PMWhile certainly not a great year over the whole group, reading the report for the U.K. bus and coach operations makes far more positive reading - return to 98% pre-Covid passenger numbers is amazing really compared to the situation just 2 years ago, and I doubt many other U.K. operators have regained passengers to that level so far.

Also, the big cost in this area was the 16% driver wage increase costing £130 million from last January. Looking forwards, such a one off dent in profitability won't likely happen this year so overall profitability should be pretty good in the UK market. If NX can shed some of the excess baggage in other areas of the business, the UK operations should provide a decent area for growth for the company and hopefully a potential merger with First which I believe would suit both companies.

Not sure there's much scope to grow UK bus, especially with the threat of franchising, it's certainly not worth the risk of buying any bus businesses going forward, even NXWM could be at risk of franchising in the future.
NX bid in all 3 rounds of Manchester Franchising, all for large franchises and walked away with nothing, so it doesn't bode well for their future UK bus business. Incidentally, First Group lost more work than they won too.

I agree on a potential First Group / Mobico Group merger, Mobico could offer First diversification away from just UK & Ireland, whilst First Group can bring a substantial increase to Mobico's UK bus operations & is debt free. The big issues I see on a friendly merger is the big difference in market caps i.e. NX £332 Million vs FGP £1.13 Billion....